- Toncoin surpasses Dogecoin in market cap, securing the 8th largest cryptocurrency spot.
- Toncoin ecosystem expands with $600 million TVL and Telegram integration.
Toncoin (TON) has advanced significantly in the cryptocurrency market, surpassing Dogecoin (DOGE) in terms of market cap. With a valuation around $19.5 billion, this milestone has driven TON to become the eighth biggest cryptocurrency on CoinMarketCap.
Recent Price Surge and Market Performance
Data from CoinMarketCap shows that Toncoin’s present price is roughly $7.95, which reflects a 3.43% rise over the past 24 hours.
This upward trend is not restricted to one day; TON has shown a positive pattern throughout the past week with a 4.92% climb. These achievements draw attention to Toncoin’s rising market presence and increasing investor confidence.
When the Astana Financial Services Authority (AFSA) of Kazakhstan permitted Toncoin’s trading on a licensed platform, its legitimacy and acceptance shot forward, as previously reported by CNF.
This regulatory nod not only improves Toncoin’s validity but also creates new trade and investment opportunities in areas where government approval is absolutely vital.
Expansion of the Toncoin Ecosystem
Also, with the total value locked (TVL) in the TON network lately approaching an amazing $600 million, the Toncoin ecosystem has been rapidly increasing.
This rise in TVL points to rising user engagement and network deployment of more distributed apps (dApps). Maintaining long-term increase and drawing additional users to the platform depend on such advancements.
Strategically improving its ecosystem, Telegram has unveiled “Telegram Stars,” an in-app currency meant to simplify the purchasing of digital items via its network. Along with giving Toncoin a new use case, this integration uses Telegram’s large user base to encourage adoption of Toncoin.
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