On April 9th, Toncoin (TON) experienced a remarkable surge, reaching an all-time high of $6.98. This surge amounted to a 24% increase in just one day and an astonishing 137% growth over the past month. As a result, Toncoin’s market cap now stands at $23.5 billion, propelling it to the 9th position in the cryptocurrency market, surpassing Cardano (ADA). However, Cardano has experienced a slight 1.12% daily gain but has fallen out of the top ten rankings.
The surge in Toncoin’s price and market cap can be attributed to several positive developments for the platform. Notably, Telegram, the popular social messaging giant, has recently announced its decision to utilize its native TON token instead of the Euro for platform payments. This move has sparked a surge in activity on The Open Network, with the number of accounts nearly doubling to 12.5 million in the past month. Additionally, the number of on-chain activated wallets has spiked by 77%, reaching nearly 3 million.
This upward momentum reflects the growing confidence and adoption of Toncoin, particularly with the expansion of TON payments for advertisers and crypto payouts for content creators within the messaging app.
