Toncoin flips Cardano by market capitalization, reaches new all-time high

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Cardano‘s position as the ninth largest cryptocurrency by market cap was taken over by Toncoin.

Based on information from CoinMarketCap, the market value of Toncoin (TON) currently exceeds that of Cardano (ADA). At present, Toncoin boasts a market capitalization of $23.1 billion in comparison to Cardano’s $21.5 billion.

The market rankings of the top ten cryptocurrencies have shifted due to TON‘s continued growth. In fact, TON reached a new all-time high on April 9 for the second time this month.

At the current moment, the value of the cryptocurrency has peaked at $7.08 before settling at $6.63 for a gain of 8.6% in the last 24 hours.

Toncoin makes strides amid upgrades

Over the past month, TON‘s price has surged over 135%, whereas ADA‘s price has dropped by 15%. So far this year, the price of TON has gone up by as much as 183%, while ADA‘s cost has only decreased by 1.3%.

The value of Toncoin has reached new peaks after a string of actions taken by the TON team. Notably, the TON Society unveiled a collaboration with HumanCode, creators of AI technologies, to integrate biometric verification into Telegram messaging.

The TON community unveiled a plan to give out one million Toncoins as rewards to encourage adoption of the latest digital verification standard.

Towards the end of March, Telegram shared news that they would be adding payment functionality to TON, which boosted the value of Toncoin. Now, advertisers can purchase ad space within the messaging app using the ecosystem token. Content creators also benefit by earning rewards each time their ads are posted.

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2024-04-09 20:19