Toncoin

Avalanche

Toncoin, The Open Network’s native cryptocurrency token, has once again entered the list of the 10 most significant coins by market cap. 
According to data from CoinMarketCap, Toncoin (<a href="https://crypto.news/price/Toncoin/" target="_blank" rel="">TON</a>) has overtaken Avalanche (<a href="https://crypto.news/price/Avalanche/" target="_blank" rel="">AVAX</a>) in market capitalization, reaching a market capitalization of $19 billion at the time of writing. 
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Along with the increase in market capitalization, the token’s trading volumes also jumped sharply, increasing by 91% over the last 24 hours and amounting to $223 million. 
TON also increased in price by 6.3% over the past 24 hours, reaching $5.45 at the time of writing. Since the beginning of the year, the coin’s price has risen by 120%. 
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<h2 class="wp-block-heading" id="toncoin-s-market-cap-history">Toncoin’s market cap history</h2> 
In September 2023, TON overtook Tron (<a href="https://crypto.news/price/tron/" target="_blank" rel="">TRX</a>) after launching a digital wallet on Telegram’s popular messaging app. The announcement was made during the Token2049 conference in Singapore. 
Telegram Founder Pavel Durov announced a new financial reward system for channel owners using the TON cryptocurrency in March. Telegram users can purchase advertisements using <a href="https://crypto.news/tag/Toncoin/" target="_blank" rel="">Toncoin</a>, and channel owners <a href="https://crypto.news/telegram-ad-revenue-ton-blockchain/" target="_blank" rel="">will receive</a> 50% of advertising revenue. Withdrawals will be available through the Fragment blockchain platform. 
Also in March, Durov reported that Telegram had received a preliminary valuation of “$30 billion or more” ahead of a potential <a href="https://crypto.news/ton-toncoin-high-telegram-ipo/" target="_blank" rel="">IPO</a>, and crypto exchange Binance announced the launch of a perpetual futures contract for Toncoin. News of this gave impetus to the growth of <a href="https://crypto.news/telegrams-ton-nears-all-time-high-following-150-surge-ytd/" target="_blank" rel="">TON’s price</a>. 
 You might also like: <a href="https://crypto.news/ton-hits-world-record-for-blockchain-speed/" rel=""> TON hits world record for blockchain speed </a>

Toncoin enters top 10 crypto by market capitalization, overtakes Avalanche

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