Toncoin (TON) has neared its all-time excessive, surging in a second to $5.6 earlier than retracting again to $5.24.
On Mar. 26, Toncoin’s native token (TON) jumped to $5.6, nearing an all-time excessive final seen in November 2021 when the Telegram linked token was buying and selling at $5.8.
With this newest value improve, TON’s market capitalization crossed the $18 billion threshold, positioning it because the eleventh token by market worth.
The surge in TON’s value follows a set of constructive developments surrounding the venture dun largely to its affiliation with Telegram, the cloud messaging platform based by the Durov brothers and one of many largely broadly used messaging functions on the planet.
One vital issue behind the worth surge seems to be Telegram’s plan to go public with a valuation of $30 billion. Though the precise timeline is unsure, this announcement propelled TON’s value from $2.78 to $4.46.
Moreover, the Binance cryptocurrency alternate introduced the introduction of perpetual futures buying and selling for TON, additional fueling investor curiosity within the token. In mid-March, TON unveiled The Open League, a 30 million TON initiative geared toward encouraging TON ecosystem utilization by rewarding contributors partaking with ecosystem tasks.
On a year-to-date (YTD) foundation, TON’s value has surged by over 150%, positioning itself as one of many quickest appreciating tokens. This development surpasses that of Bitcoin, which has skilled a YTD improve of solely 68.83%, as per MarketWatch information.