#TON in a week and re-enters the TOP 10 of cryptocurrencies
Toncoin has recently experienced significant fluctuations in its market cap, going from $17 billion to $11.5 billion in just a few weeks. However, thanks to a rapid price recovery, its market cap has now surpassed $14.5 billion again, allowing TON to re-enter the top 10 cryptocurrencies by market cap.
Toncoin re-enters the top 10 cryptocurrencies after a stunning fall
Toncoinâs downfall was marked by the arrest of Pavel Durov, the CEO of Telegram, in late August 2024. Accused of facilitating drug trafficking and organized fraud, his arrest sparked panic among investors. As a result, Toncoinâs market capitalization dropped significantly, from $17 billion on August 24 to $11.5 billion on September 5. This drop led to TON dropping out of the top 10 cryptocurrencies by market capitalization.
However, Toncoin quickly recovered. With the recent price recovery, Toncoinâs market cap has risen again, surpassing $14.5 billion. This recovery allowed TON to regain its place in the top 10, ranking as the 9th largest cryptocurrency by market cap, with a 25% growth in the past 7 days.
Factors contributing to recovery
Several elements have contributed to this impressive recovery. Firstly, the increase in investor demand for cryptocurrencies, which has led to a rise in prices. In addition, positive developments within the TON ecosystem, such as technological upgrades and strategic partnerships, have also spurred growth.
Toncoinâs recent performance shows that the cryptocurrency has the potential to recover quickly after significant declines. However, as with any cryptocurrency, it is important to note that prices can be volatile and subject to rapid fluctuations. Therefore, investors should remain vigilant and well-informed.
Toncoinâs market cap has seen ups and downs over the past few weeks, but the recent price recovery shows a positive trend. With a market cap exceeding $14.5 billion and a growth of more than 25% in a week, Toncoin is positioned as a cryptocurrency to keep an eye on.
Follow me, we're almost at 1000.
Dale like.
