Toncoin (TON), the native cryptocurrency of The Open Network, has become the 10th largest cryptocurrency by market capitalization, surpassing Justin Sun’s Tron (TRX).
Toncoin (TON) Overtook Tron (TRX)
Toncoin (TON), the native cryptocurrency of The Open Network, has become the 10th largest cryptocurrency by market capitalization, surpassing Justin Sun’s Tron (TRX). According to CoinMarketCap data, this comes after TON's recent rally, with the token up over 24% in the past seven days.
This can be attributed to the launch of a self-custodial digital wallet on popular messaging app Telegram, which developed the TON blockchain. The announcement was made during the Token2049 conference in Singapore.
The TON Foundation took over the project after an SEC lawsuit forced Telegram to stop working on it in 2020. Besides the self-custodial wallet, which allows users to send crypto without fees, the TON Foundation also laid out plans on bringing Web3 features to Telegram’s over 800 million users. This includes Telegram mini apps integrated within the messaging app itself.
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