Is Toncoin the next big thing in crypto? The open-source blockchain, deeply intertwined with Telegram, is making serious waves. In the past week, Toncoin (TON) has surged, and it’s now hot on the heels of Dogecoin (DOGE) in terms of market capitalization. Let’s dive into what’s fueling this impressive growth.
Toncoin (TON) Closing the Gap with Dogecoin (DOGE)
Toncoin is rapidly gaining ground and approaching the market capitalization of Dogecoin. But how close is it really?
- Market Cap Surge: In the past 7 days, Toncoin experienced a significant surge of 42.3%, propelling its market cap to an impressive $25 billion.
- Dogecoin’s Lead: This puts Toncoin just $2 billion behind Dogecoin.
- Ranking: TON is now ranked the 9th largest cryptocurrency by total market capitalization.
This move signifies a major shift in the crypto landscape, suggesting that TON could soon be a top-10 cryptocurrency.
The Telegram Connection: Fueling Toncoin’s Rise
Toncoin’s origins are closely linked to Telegram, and this connection continues to play a significant role in its growth. After Telegram dropped the project, it was transferred to the open-source community, but the underlying infrastructure remains connected.
Rumors of Telegram going public have also contributed to the price surge. In March, Telegram CEO Pavel Durov mentioned receiving offers valuing the company at over $30 billion, hinting at a potential direct IPO.
Notcoin and TON Ecosystem Engagement
Another major catalyst for Toncoin’s popularity is the Notcoin game. How does this game boost the TON ecosystem?
- Engagement Driver: The game rewards users for interacting with TON-based projects.
- Ecosystem Growth: Users are incentivized to install wallets, purchase NFTs, and upgrade Telegram accounts.
- Wider Adoption: This creates a positive feedback loop, driving adoption of both Notcoin and Toncoin.
Toncoin vs. Cardano (ADA): A Market Cap Showdown
Toncoin has recently surpassed Cardano (ADA) in terms of market capitalization. Let’s take a quick look at the numbers:
- Toncoin (TON): $25 billion
- Cardano (ADA): $20 billion
This milestone highlights Toncoin’s increasing dominance in the market.
See Also: TON Rallies After Telegram Announced Ad Revenue Sharing Through Toncoin
Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
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Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
