Toncoin

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Toncoin (TON) has neared its all-time high, surging in a moment to $5.6 before retracting back to $5.24. 
On Mar. 26, Toncoin’s native token (<a href="https://crypto.news/price/toncoin/" target="_blank" rel="noreferrer noopener">TON</a>) jumped to $5.6, nearing an all-time high last seen in November 2021 when the Telegram linked token was trading at $5.8. 
With this latest price increase, TON’s market capitalization crossed the $18 billion threshold, positioning it as the eleventh token by market value. 
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 <img loading="lazy" decoding="async" width="988" height="344" src="https://crypto.news/app/uploads/2024/03/hsidluhfdsailuh.png" alt="Telegram's TON nears all-time high following 150% surge YTD - 24" class="wp-image-14261141">
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 TON price by market value | Source: CoinMarketCap 
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</figure> 
 You might also like: <a href="https://crypto.news/ton-investment-telegram-web3/"> TON receives $8m investment, announces Telegram web3 SuperApp launch </a> 
The surge in TON’s price follows a set of positive developments surrounding the project dun in large part to its association with <a href="https://crypto.news/tag/telegram/" target="_blank" rel="noreferrer noopener">Telegram</a>, the cloud messaging platform founded by the Durov brothers and one of the mostly widely used messaging applications in the world. 
One significant factor behind the price surge appears to be Telegram’s <a href="https://crypto.news/ton-toncoin-high-telegram-ipo/" target="_blank" rel="noreferrer noopener">plan to go public</a> with a valuation of $30 billion. Although the exact timeline is uncertain, this announcement propelled TON’s price from $2.78 to $4.46. 
Furthermore, the <a href="https://crypto.news/tag/binance/" target="_blank" rel="noreferrer noopener">Binance</a> cryptocurrency exchange announced the introduction of perpetual futures trading for TON, further fueling investor interest in the token. In mid-March, TON <a href="https://crypto.news/ton-open-league-launch-telegram/" target="_blank" rel="noreferrer noopener">unveiled</a> The Open League, a 30 million TON initiative aimed at encouraging TON ecosystem usage by rewarding participants engaging with ecosystem projects. 
On a year-to-date (YTD) basis, TON’s price has surged by over 150%, positioning itself as one of the fastest appreciating tokens. This growth surpasses that of Bitcoin, which has experienced a YTD increase of only 68.83%, as per MarketWatch data. 
 Read more: <a href="https://crypto.news/ton-collaboration-fireblocks-dwf-labs/"> TON announces collaboration with Fireblocks and DWF Labs </a>

Telegram’s TON nears all-time high following 150% surge YTD

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