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The Toncoin (TON) protocol is on a bullish rampage today after the protocol jumped by more than 14% to lead the current altcoin trend. At the moment, Toncoin is changing hands at a price of $1.92, the most emphatic growth surge it has printed thus far this month. While the Toncoin protocol is one of the most recognized midcap blockchains, the latest ecosystem expansionary moves are setting it apart for a more directed growth push.
Though it operates as an independent blockchain, the current bullish sentiment being exhibited by Toncoin comes from the latest update from the Telegram social media platform. The messaging giant has integrated a TON-based crypto wallet to support tokens associated with the Toncoin ecosystem.
According to the update from The Open Network Foundation, TON-based wallets can be accessed through Telegram settings. As detailed, all Telegram users can now access the TON Space and have the flexibility to conduct transactions such as buying and selling through the Telegram Wallet Bot.
The positive sentiment around the integration is the potential accessibility that the integration will bring to the TON ecosystem, drawing on the more than 800 million active Telegram users.
Steady ecosystem build-up
Despite its innovative feat, the expansion of the Toncoin ecosystem is still largely gradual. While it has always received the needed backing from Telegram from its inception, the TON token is now actively being supported by top exchanges, which are now listing it for trading and, as such, creating new accessibility points for its users across the board.
Toncoin has picked up a definitive growth course over the past few months, and after the current surge, it represents one of the altcoins in the Web3.0 world with the largest growth over the past month. At a time when most altcoins are in the red, this bullish resurgence backed by Telegram might be here to stay for Toncoin.
Alex Dovbnya
Gamza Khanzadaev
Valeria Blokhina
