Toncoin (TON) has experienced a remarkable surge in value, reaching an unprecedented high of $6.98 on April 9th. This represents an impressive 24% increase in just one day and a staggering 137% growth over the course of a month. As a result, Toncoin has now positioned itself as the 9th largest cryptocurrency in the market, surpassing Cardano (ADA). Toncoin’s market cap currently stands at $23.5 billion, solidifying its place among the top contenders in the crypto world.
The surge in Toncoin’s price and market cap can be attributed to a series of positive developments for the platform. Telegram, the popular social messaging platform, recently announced its decision to integrate its native TON token for platform payments, replacing the use of Euros. This move has sparked a surge in activity on The Open Network, with the number of accounts nearly doubling to 12.5 million within the past month. Furthermore, the number of on-chain activated wallets has seen a significant increase of 77%, reaching almost 3 million.
These developments signify a growing confidence in and adoption of Toncoin, particularly with the expansion of TON payments for advertisers and the introduction of crypto payouts for content creators within the messaging app. The future looks promising for Toncoin as it continues to gain traction and establish itself as a prominent player in the cryptocurrency market.