In an unexpected shift, Toncoin (TON) overtook Cardano (ADA) in terms of market value and joined the elite group of top 10 cryptocurrencies. Within the past day, Cardano dropped from ninth to tenth position with a market cap of $21.65 billion.
Currently, TON, a blockchain initiative linked to Telegram, the widely-used messaging app, is drawing significant attention. The excitement surrounding TON‘s cryptocurrency, Toncoin, has skyrocketed due to bold declarations from Pavel Durov, Telegram’s billionaire founder.
In the last month, Toncoin experienced a significant surge in value due to plans for it to be integrated into a messenger platform as a payment method and reward for ads, along with large-scale purchases of the tokens. As a result, Toncoin’s price increased by an impressive 135%, giving it a market capitalization of $23.94 billion.
The Open Network, also known as TON, has experienced exceptional expansion, with its network value increasing by almost 700% since March. This significant surge brought the total value locked within the network up to an impressive $145 million. Consequently, Toncoin has solidified its place among the top 10 cryptocurrencies, pushing Cardano down from its previous ranking.
Toncoin aims to reach new achievements, such as exceeding Dogecoin‘s market value of $28.33 billion. The cryptocurrency world prepares for more disruptive changes as a result.
Currently, Cardano faces challenges from competitors such as Toncoin as well as newer entrants like Avalanche (AVAX) and Shiba Inu (SHIB), all aiming to secure positions at the top of the cryptocurrency market.
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2024-04-09 16:49