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Toncoin (TON)'s broader digital currency ecosystem is consolidated, with prices slipping from earlier bullish trends. What does not come as a surprise is that the current Toncoin market outlook is such that it is currently outshining that of its peers. These include Bitcoin (BTC), XRP and Cardano.
Toncoin's performance in eyes of its peers
As of this writing, Toncoin traded for $6.76, up more than 4.8% in 24 hours, per data from CoinMarketCap. When placed side by side, Bitcoin's price was $58,111.04, and the coin slipped 3.05% within the same period.
Arman ShirinyanXRP is also lagging, with the price changing for $0.5841 at 2.95% in 24 hours. Cardano also saw a 1.88% price slump to $0.3304. Over the past week, TON has been in the lead, jumping by over 11%, with BTC and ADA dropping by 2.22% and 0.2%, respectively. XRP has maintained its resilience over the past week with a 0.87% surge.
Toncoin's growth over the past few months hinges on the vibrant ecosystem it represents, The Open Network. TON has dominated the blockchain gaming ecosystem thus far, with the likes of Hamster Kombat, Notcoin and Catizen helping it amass massive users.
The incentivization model of these games has placed an enormous demand on TON, contributing to its sustained resilience in the face of uncontrollable market slumps.
Backing from industry giants
Toncoin is outshining BTC, ADA and XRP, but this is not a new trend, as the coin has a rich history of making similar moves. Notably, this growth trend from TON is also based on the backing it receives from top industry giants like Pantera Capital.
Gamza KhanzadaevBeyond the influx of Venture Capital firms, whale investors have swooped into the ecosystem, helping to solidify its growth trends across the board. Overall, Toncoin is stabilizing its foothold in the top 10 list of the most capitalized coins, with plans to sustain this outlook in the long term.
Gamza Khanzadaev
Vladislav Sopov
Dan Burgin