Toncoin (TON) is the native token of the decentralized blockchain network The Open Network, created by Russian Pavel Durov's Telegram company. This cryptocurrency is actively growing, and since the beginning of 2024, it has overtaken even Bitcoin in terms of pace.
On April 11, the TON rate set its all-time high at $7,6 per coin, and its market capitalization grew to $25,9 billion, making this cryptocurrency one of the top 10 largest. In terms of growth rates since 2024, the asset has overtaken bitcoin - 235% against 130%.
According to cryptoaggregator data Coinmarketcap, since then the asset has been heavily adjusted and its capitalization has decreased to $18,7 billion, which still allows it to take the 9th place on the list of the largest. Despite this, major crypto exchanges have announced the listing of this cryptocurrency in this regard, including OKX, Bybit, Gate.io, HTX Global, KuCoin and others.
The exchange rate of a cryptocurrency is influenced by its usefulness. For example, in April, Telegram developers implemented the function of payments in TON for displaying ads in the messenger, allowing channel owners to receive 50% of the revenue from advertisements. And in March, the distribution of 30 million TON was announced, which is equivalent to $224,4 million for the participation of users in ecosystem projects. The distribution of coins for activity began on April 1.
In addition, Telegram will start rewarding content creators with the ability to send TON-based cryptocurrency tips. Users themselves will be able to buy and sell goods for cryptocurrency, although sellers will receive 70% of the income.
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