Toncoin surpassed Bitcoin with 118% growth! Is the price of TON going to rise further?
Study time: 2 minutes
TonCoin (TON) digital currency has shown a great performance this year and has overtaken Bitcoin with a growth of 118%. This price jump has occurred after positive developments in the Ton network and the increase of its intra-chain transactions.
Analysts suggest certain trading patterns for TonCoin. In this regard, CQ Ben, an analyst at CryptoQuant, states that one of his investment methods in altcoins is to identify positive trends in projects with dollar and bitcoin values.
He has emphasized the importance of this project in the upward trend of the digital currency market, considering the relative strength of TenCoin against Bitcoin and the network effect of Telegram.
It is noteworthy that among the layer 1 networks, Ten Network and BNB (BNB) are the only networks that have been able to perform better than Bitcoin this year.
Several other factors have also contributed to the increase in the price of TonCoin. Among these factors, we can mention the beginning of partnerships with Telegram. Based on these partnerships, Pantera Capital has also invested an unknown but significant amount in Ton Network.
According to Pantera, Telegram's wide reach, with more than 900 million users and 36.7 million monthly downloads, increases Ten's potential to become a larger crypto network.
In addition, the launch of the new digital currency NotCoin (NOT) and the free distribution of its tokens have also contributed to the rise in the price of TonCoin .
This game of making money through the game, which is run on the Telegram platform, has been widely welcomed and about 34 million users have participated in the extraction of these tokens.
