Hamster

Cardano

Toncoin

Gains

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<p dir="ltr">Toncoin (TON)'s broader digital currency ecosystem is consolidated, with prices slipping from earlier bullish trends. What does not come as a surprise is that the current Toncoin market outlook is such that it is currently outshining that of its peers. These include Bitcoin (BTC), XRP and Cardano.</p>
<h2 id="toncoin-s-performance-in-eyes-of-its-peers">Toncoin's performance in eyes of its peers</h2>
<p dir="ltr">As of this writing, Toncoin traded for $6.76, up more than 4.8% in 24 hours,&nbsp;<a href="https://coinmarketcap.com/currencies/toncoin/" rel="noopener noreferrer nofollow">per</a> data from CoinMarketCap. When placed side by side, Bitcoin's price was $58,111.04, and the coin slipped 3.05% within the same period.</p>
<p dir="ltr">XRP is also lagging, with the price changing for $0.5841 at 2.95% in 24 hours. Cardano also saw a 1.88% price slump to $0.3304. Over the past week, TON has been in the lead, jumping by over 11%, with BTC and ADA dropping by 2.22% and 0.2%, respectively. XRP has maintained its resilience over the past week with a 0.87% surge.</p>
<p dir="ltr">Toncoin's growth over the past few months hinges on the vibrant ecosystem it represents, The Open Network. TON has dominated the blockchain gaming ecosystem thus far, with the likes of Hamster Kombat,&nbsp;<a href="https://u.today/notcoin-not-skyrockets-66-in-volume-heres-why" rel="noopener noreferrer nofollow">Notcoin</a> and Catizen helping it amass massive users.</p>
<p dir="ltr">The incentivization model of these games has placed an enormous demand on TON, contributing to its sustained resilience in the face of uncontrollable market slumps.</p>
<h2 id="backing-from-industry-giants">Backing from industry giants</h2>
<p dir="ltr">Toncoin is outshining BTC, ADA and XRP, but this is not a new trend, as the coin has a rich&nbsp;<a href="https://u.today/toncoin-ton-outperforms-btc-xrp-and-doge-what-next" rel="noopener noreferrer nofollow">history of making similar moves</a>. Notably, this growth trend from TON is also based on the backing it receives from top industry giants like Pantera Capital.</p>
<p dir="ltr">Beyond the influx of Venture Capital firms,&nbsp;<a href="https://u.today/ton-surges-983-in-key-whale-metric-as-market-faces-uncertainty" rel="noopener noreferrer nofollow">whale investors</a> have swooped into the ecosystem, helping to solidify its growth trends across the board. Overall, Toncoin is stabilizing its foothold in the top 10 list of the most capitalized coins, with plans to sustain this outlook in the long term.</p>

Toncoin (TON) Dusts BTC, XRP and ADA in Weekly Gains

Table of Contents

U_Today

Other articles published on Aug 19, 2024

BlackRock Surpasses Grayscale as World’s Largest Crypto ETF Provider

Ethereum To Hit $4K By October, Rollblock Expected to Capture Large Part of $450B Industry, Botto...

MTN Group’s revenue drops by 20.8% in H1 2024

Gate Ventures and Abu Dhabi Blockchain Center Launch New Fund

What Gaming Projects Are on Our Radar?

In 2024, Ripple Will Introduce Secure Gold and Silver on the Xrp Ledger.

Join our free newsletter for daily crypto updates!