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Toncoin, the native cryptocurrency of The open network (TON), is one of the biggest gainers at the top of crypto markets on Thursday amid launch news about one of the network’s most anticipated tokens. And it comes as the two biggest currencies overall, Bitcoin It is Ethereumit barely moved the last day.
In the last 24 hours, TON is rose almost 13% at a current price of $6.46, per data from CoinGecko. This makes it the second largest coin among the top 100 cryptocurrencies by market cap, behind Akash Network (AKT), an AI-centric cloud computing project that saw a 16% jump on the day.
Many of the gains came after The Open Network project Notcoina viral game based on Telegram, announced that its anticipated token NOT will be released on May 16th. The project attracted 35 million players before April 1, when the “mining phase” ended, and launch has been on the horizon for weeks amid some previously missed listing goals.
One of TON’s biggest price surges so far on Thursday came shortly after cryptocurrency exchange Binance announced that it would offer billions of NOT tokens as rewards to its customers through pre-listing bet rewards.
Along with a similar campaign from rival exchange OKX, more than 4 billion NOT tokens will be distributed through such rewards initiatives. OKX users in particular will need to stake TON tokens to earn rewards, which could lead to an increase in Toncoin purchases in the coming days.
In the last day, perpetual-centric decentralized exchange (DEX) dYdX also announced support for Toncoin, while Hong Kong exchange HashKey listed TON on Thursday. With today’s price action added, Toncoin is up 24% in the last week.
However, there were few big gainers among the top 100 cryptocurrencies in the last day and, as noted, Bitcoin and Ethereum are doing little.
The price of Bitcoin is up to 1% on the day to $62,420 at the time of writing, marking a total gain of 5% over the past seven days, while Ethereum increased by around 2% today to $3,020 – but last week, it didn’t rise even 1%.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment or other advice.
Edited by Ryan Ozawa.
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