Telegram-backed cryptocurrency Toncoin (TON) has made it into the top ten most successful crypto projects over the past few weeks.
Toncoin (TON), the native cryptocurrency of The Open Network blockchain backed by social network Telegram, has gained 14% in the past 24 hours and was trading at around $6.9 in the middle of the London session on Friday. The #Toncoin Project (TON) has grown to blockchain level one (L1) and the total blockchain funding (TVL) has surpassed $259 million.
Notably, Project Toncoin has managed to overtake Web3 blockchain veterans such as #Cardano (ADA), Tron (TRX) and Avalanche (AVAX). At the time of writing, Toncoin has a fully diluted value of around $35 billion and an average daily transaction volume of around $672 million.
As Coinspeaker previously noted, the Toncoin economy is heavily reliant on social network Telegram, which has about 200 million daily active users (DAUs), so the Toncoin ecosystem is well positioned for rapid growth amid a confirmed bull market in cryptocurrencies.
For example, Notcoin (NOT), a Telegram-based community token that seamlessly connects users to the web3 ecosystem through a tap-to-earn mining mechanism, has received tremendous support and backing. On Thursday, leading cryptocurrency exchange #Binance Holdings Limited announced that users can start mining NOTcoin on May 13 by bidding on #BNB and FDUSD in separate pools.
Binance announced that NOTcoin will be the 54th project in the Binance Launchpool and will begin trading on May 16. NOT tokens will be traded using #ETFvsBTC , Tether USDT, BNB and FDUSD.
The listing of the NOT token on Binance follows similar decisions by other major cryptocurrency exchanges such as Bybit and OKX.
The Toncoin ecosystem includes more than 700 applications, including wallets and exchanges that facilitate the seamless adoption of cryptocurrencies. As a result, since inception, the Toncoin network has more than 17.
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