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Toncoin (TON) The best performing cryptocurrencies in the Top 100: what to know
Vladislav Sopov
TON, the native cryptocurrency of the blockchain of the same name, today becomes just a large green altcoin
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Although the global cryptocurrency segment has caught its breath, the price of Toncoin (TON) shows no signs of exhaustion. After a multi-week rally, it is aiming for new capitalization records and integrating dozens of decentralized applications (dApps) every day.
Toncoin (TON) up 5%: Best performing cryptocurrency in the elite league
Today, June 13, 2024, the price of Toncoin (TON) increased by almost 5%. It stopped one step away from the new all-time high above $7.65, while the capitalization of Toncoin (TON) reached $18.55 billion. Recently, TON replaced veteran cryptocurrency Cardano (ADA) as the tenth largest digital asset.
Image by Coingecko
Therefore, TON is the only asset in the top 20 that demonstrates positive dynamics and the best performing cryptocurrency in the top 100.
Daily trading volume has also increased: with a net trading volume of more than $723 million, it becomes the tenth most traded asset, excluding the stablecoins USDT, USDC, eUSD and FDUSD.
As previously explained by U.Today, expert analyst Ali Martinez has indicated the possibility of a staggering 40% rally for the TON price.
Although the TD sequential indicator suggests a potential decline, the medium-term target for TON price action is above $11, the top trader says.
Toncoin (TON) reaches the milestone of $500 million in TVL
Additionally, the Toncoin (TON) cryptocurrency application ecosystem reached a number of new milestones last week. Its total value locked (TVL) metrics have eclipsed $500 million.
Currently, TON hosts over 650 decentralized applications of various types. Largely, its popularity should be attributed to the euphoria around “Tap-to-Earn” apps like Notcoin (NOT), Hamster Combat (HAMSTER), and so on.
According to some data, TON has even surpassed Ethereum (ETH) in the number of daily active addresses transacting on-chain. However, this calculation excludes L2 solutions on Ethereum Virtual Machine (EVM).
About the author
Vladislav Sopov
Blockchain analyst and writer with scientific background. 6+ years in IT analytics, 3+ years in blockchain.
He has worked in independent analyzes and start-ups (Swap.online, Monoreto, Attic Lab etc.)