In the past week, whale investors have bought over 45 million Toncoin (TON), amounting to roughly $346.5 million in value.
This surge in purchases has propelled Toncoin’s market capitalization beyond $18.8 billion, enabling it to surpass Dogecoin (DOGE) and secure its place as the 8th largest cryptocurrency globally.
🚨 BREAKING: In the previous week, whales purchased over 45 million #Toncoin [ $TON ], amounting to approximately $346.5 million in value.
With a market capitalization exceeding $18.8 billion, #TON has outpaced #Dogecoin's # #DOGE [ $DOGE ].
Consequently, Toncoin has elevated… pic.twitter.com/2nBhtbT0J4
— CoinEcho (@mycoinecho) July 1, 2024
One significant factor contributing to Toncoin’s rapid ascent is the introduction of mini apps, which have sparked considerable interest in the Ton Blockchain. These applications have attracted developers and users alike, enhancing the ecosystem’s overall appeal.
Adoption Of Tether On The Ton Blockchain Plays Crucial Role
Moreover, the adoption of USDT (Tether) on the Ton Blockchain has played a crucial role in this growth. The partnership between Tether and TON has significantly boosted the adoption of stablecoins on Telegram, a key platform for TON users. The supply of USDT on the TON blockchain has now surpassed 500 million, underscoring the increasing demand for stablecoin solutions within this ecosystem.
🌎DOEX WEEKLY REPORTS: 2024/06/24 – 2024/6/30
✅#CRYPTO NEWS HIGHLIGHTS❇️Tether and TON Partnership Fuels Stablecoin Adoption on Telegram❇️Mt. Gox to distribute $9 billion of bitcoin, bitcoin cash repayments from beginning of July❇️#USDT stablecoin supply on TON blockchain… pic.twitter.com/mEJbrM0UUj
— DOEX (@DoexGlobal) July 1, 2024
Together, these developments have created a robust foundation for Toncoin’s growth, enabling it to climb the ranks and establish itself as a leading cryptocurrency.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Image Source: stlegat/123RF / Image Effects by Colorcinch
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