TONcoin (TON) Climbs in Rankings: A Spotlight on Its Recent Success
Toncoin (TON), the native cryptocurrency of The Open Network, recently claimed the 10th spot among digital assets in terms of market cap and briefly surpassed Dogecoin to become the ninth largest cryptocurrency.
The launch of a self-custodial digital wallet on the Telegram messaging app attributed to this surge in TON’s ranking. Over the last week, TON has seen impressive gains, with a 31% increase in value, making it the top-performing asset among the top 100 cryptocurrencies. Telegram initially introduced TON on a proof-of-stake blockchain in 2018, although the project transitioned to the TON Foundation following an SEC lawsuit.
It now enables users to send commission-free crypto transfers within the Telegram ecosystem. The Open Network also offers various features like TON Storage, TON Proxy (a decentralized VPN service), and the TON naming system, with payments made in TON tokens. While the broader crypto market has experienced fluctuations, TON’s recent performance stands out as a notable success story.
Clever Robot News Desk 22nd September 2023
