Toncoin has overtaken Solana and Tron to become the 9th largest cryptocurrency by market cap.
Toncoin began to rally following Telegram’s endorsement of the TON project.
Toncoin is now one of the top 10 cryptos by market cap
TON, the native coin of the Toncoin blockchain, has become one of the top 10 cryptocurrencies by market cap.
The coin has added 30% to its value over the past seven days, outperforming the other major cryptocurrencies in the process. At press time, the price of Toncoin stands at $2.53, up by more than 4% in the last 24 hours.
The sustained rally comes a few days after the messaging platform Telegram endorsed the Toncoin project. At the time, Telegram’s chief investment officer, John Hyman, said,
“We are putting digital ownership rights in the hands of our entire user base. While also giving TON projects the tools to reach our audience in the largest Web3/Web2 partnership there has ever been.”
Telegram is set to integrate the TON network into the app’s user interface. With the integration, the TON Web3 wallet would be available to over 800 million Telegram users via their settings.
BTC and others experience a positive performance
Bitcoin and the other major cryptocurrencies have also recorded positive performance in recent days. At press time, the price of Bitcoin stands at $27,111, up by more than 4% over the last seven days.
Other major cryptocurrencies, including XRP, Solana, Tron, Polygon, Litecoin, Bitcoin Cash, and Chainlink, have added more than 4% to their values over the last few days.