{"id":12452,"date":"2024-04-11T11:32:24","date_gmt":"2024-04-11T08:32:24","guid":{"rendered":"https:\/\/forklog.com\/en\/toncoin-surpasses-cardano-in-market-capitalisation-after-reaching-new-high\/"},"modified":"2024-04-11T11:32:24","modified_gmt":"2024-04-11T08:32:24","slug":"toncoin-surpasses-cardano-in-market-capitalisation-after-reaching-new-high","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/toncoin-surpasses-cardano-in-market-capitalisation-after-reaching-new-high\/","title":{"rendered":"Toncoin Surpasses Cardano in Market Capitalisation After Reaching New High"},"content":{"rendered":"<div class=\"wp-block-text-wrappers-keypoints article_keypoints\">\n<ul class=\"wp-block-list\">\n<li>TON reached an all-time high of $7.6.<\/li>\n<li>The asset&#8217;s growth is driven by numerous announcements from The Open Network and Telegram.<\/li>\n<\/ul>\n<\/div>\n<p>On April 11, the price of Toncoin (TON) exceeded $7.6, marking a new all-time high. Over the past week, the asset has risen by approximately 50%.\u00a0<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/NLZkB5uTIanmbjnrnHkakbdHz-0BjMCWQSMUgKftE3DBZi3X-41MTztj4c4Ym8h1cXdwlY_1WOliRfqfkPb0U4oKykMUtyosVbgYTatmYrjBkz0oOSzBt_rDpCqIGg0Xm_JSJkZVNpL8gYYo76vTpmE\" alt=\"Toncoin \u043e\u0431\u043d\u043e\u0432\u0438\u043b \u043c\u0430\u043a\u0441\u0438\u043c\u0443\u043c \u0438 \u043e\u0431\u043e\u0448\u0435\u043b Cardano \u043f\u043e \u043a\u0430\u043f\u0438\u0442\u0430\u043b\u0438\u0437\u0430\u0446\u0438\u0438\"\/><figcaption class=\"wp-element-caption\">15-minute chart of TON\/USDT on OKX exchange. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/TONUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>At the time of writing, the coin&#8217;s price had adjusted to $7.4. According to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/toncoin\">CoinGecko<\/a>, TON&#8217;s market capitalisation stands at $25.9 billion.\u00a0<\/p>\n<p>The token has secured the 10th position, surpassing Cardano (ADA) with a market cap of $20.9 billion. Since the beginning of the year, the asset has outpaced Bitcoin in growth \u2014 235% compared to 130%.\u00a0<\/p>\n<p>There are some concerns within the community regarding the distribution of TON&#8217;s issuance. According to <a href=\"https:\/\/www.coincarp.com\/currencies\/toncoin\/richlist\/\">CoinCarp<\/a>, over 60% of the coins are held by the top 10 holders, and 93% are concentrated among 100 users.\u00a0<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/qZ3jZoUULDePJ8m70lliGdNtXEG9pvAOO2QskETN_R1Nkgn1Pi7YYLNlRkrngIJlRfqglzB2r1o4YIduLFb7AkSZ-beXjqPlNrph_SEs-Id5750Q6Yfo4Tlg1EKMux6l3TMzhWcQpkjyW4yWCNXJcTM\" alt=\"Toncoin \u043e\u0431\u043d\u043e\u0432\u0438\u043b \u043c\u0430\u043a\u0441\u0438\u043c\u0443\u043c \u0438 \u043e\u0431\u043e\u0448\u0435\u043b Cardano \u043f\u043e \u043a\u0430\u043f\u0438\u0442\u0430\u043b\u0438\u0437\u0430\u0446\u0438\u0438\"\/><figcaption class=\"wp-element-caption\">Distribution of TON issuance. Data: CoinCarp.<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\"><strong>Reasons for Growth<\/strong><\/h2>\n<p>The positive trend for TON is linked to recent initiatives by The Open Network blockchain developers, including several integrations with the Telegram messenger. The network and the social platform maintain a close relationship, despite legally separating in 2020.\u00a0<\/p>\n<p>One of the most significant initiatives was the allocation of 1 million TON (~$7.4 million) to the TON Society community to reward participants who undergo verification through palm scanning. The partnership with HumanCode aims to address the issue of bots and implement Web3 identification in Telegram.\u00a0<\/p>\n<p>Previously, the messenger team implemented a feature for payments in TON for advertising. Channel owners can receive 50% of revenues from marketing ads. Channels with more than 1,000 subscribers are eligible for monetisation, and funds can be withdrawn via the Fragment exchange.\u00a0<\/p>\n<p>In March, blockchain developers also <a href=\"https:\/\/u1f987.com\/en\/news\/the-open-network-to-distribute-30-million-toncoin-to-active-community-members\">announced the distribution of 30 million TON<\/a> (~$224.4 million) for user participation in ecosystem projects. The distribution of coins for activities began on April 1.\u00a0<\/p>\n<p>On April 8, the Web3Festival conference took place in Hong Kong, where TON representatives spoke on the main stage.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">? TON&#8217;s mainstage event in Hong Kong was a huge success!<\/p>\n<p>For the first time, <a href=\"https:\/\/twitter.com\/hashtag\/TON?src=hash&#038;ref_src=twsrc%5Etfw\">#TON<\/a> became a title sponsor of the <a href=\"https:\/\/twitter.com\/festival_web3?ref_src=twsrc%5Etfw\">@festival_web3<\/a>, hosting a full-day event packed with major announcements, giveaways, product demos, and more!<\/p>\n<p>Let\u2019s dive into some of the highlights ?\u2b07\ufe0f <a href=\"https:\/\/t.co\/ShU22GLWuu\">pic.twitter.com\/ShU22GLWuu<\/a><\/p>\n<p>\u2014 TON ? (@ton_blockchain) <a href=\"https:\/\/twitter.com\/ton_blockchain\/status\/1777678485575586241?ref_src=twsrc%5Etfw\">April 9, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In addition to the already announced initiatives, the event showcased several projects from the first season of the accelerator focusing on Asia, including Tradoor, TONTIX, Xircus, and Bounty Bay.\u00a0<\/p>\n<p>Steve Yun, President of the TON Foundation, introduced a new catalogue feature in TON Space, a non-custodial version of Wallet, which simplifies tracking applications on the blockchain.\u00a0<\/p>\n<p>The next significant event for TON will be the <a href=\"https:\/\/www.dubai.token2049.com\/\">Token2049<\/a> conference in Dubai on April 18-19, where Telegram CEO Pavel Durov will speak.\u00a0<\/p>\n<p>Earlier, it was revealed that the company is <a href=\"https:\/\/u1f987.com\/en\/news\/ton-rises-10-following-telegram-ipo-speculation\">preparing<\/a> for a potential <span data-descr=\"initial public offering\" class=\"old_tooltip\">IPO<\/span>.<\/p>\n<p>Back in February, Durov <a href=\"https:\/\/u1f987.com\/en\/news\/durov-proposes-solution-to-preserve-tons-decentralization\">proposed<\/a> a solution to preserve TON&#8217;s decentralisation. The Telegram team will be limited to owning 10% of the total token issuance, and advertising in the messenger will be sold for digital assets.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TON reached an all-time high of $7.6. The asset&#8217;s growth is driven by numerous announcements from The Open Network and Telegram. On April 11, the price of Toncoin (TON) exceeded $7.6, marking a new all-time high. Over the past week, the asset has risen by approximately 50%.\u00a0 15-minute chart of TON\/USDT on OKX exchange. Data: [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12451,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1150,723,1422],"class_list":["post-12452","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-news-plus","tag-telegram","tag-toncoin"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/12452","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=12452"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/12452\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/12451"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=12452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=12452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=12452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}