Toncoin has recently made a significant move in the world of cryptocurrencies by displacing Cardano from its position in the top 10 largest cryptocurrencies by market capitalization. This change was reflected in the data from CoinMarketCap, which showed Toncoin reaching a market capitalization of $23.1 billion, surpassing Cardano’s $21.5 billion at the time the ranking was updated.
The rise of Toncoin in the market has been impressive, with the cryptocurrency hitting a new all-time high on April 9 for the second time since the beginning of the month. The price of Toncoin rose to $7.08 and is currently trading at $6.63, marking an 8.6% increase in the past 24 hours. Over the past month, Toncoin has seen a price increase of over 135%, while Cardano has experienced a 15% decrease. Year-to-date, Toncoin’s price has surged by 183%, while Cardano’s price is down by 1.3%.
The success of Toncoin can be attributed to a series of initiatives by the TON team. The TON Society recently announced a strategic partnership with HumanCode, a developer of AI solutions, to implement biometric identification in the popular messaging platform Telegram. Additionally, the TON community introduced a one million Toncoin incentive program to support the adoption of a new digital verification standard.
In March, Telegram made an announcement about integrating payments into TON, which had a positive impact on the Toncoin rate. This integration allows users to buy advertising in the messenger using the ecosystem token, and content creators can earn rewards for posting advertisements. Overall, these developments have contributed to the growth and success of Toncoin in the cryptocurrency market.
Toncoin’s displacement of Cardano in the market capitalization ranking is a significant milestone for the cryptocurrency. With its impressive growth, strategic partnerships, and innovative initiatives, Toncoin has shown great potential for further developments and advancements in the world of digital currencies. Keep an eye on Toncoin as it continues to make waves in the cryptocurrency space.
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