Main navigation

Toncoin (TON) Taps Major Listing, Here's Its Impact on Price

Wed, 05/24/2023 - 10:41
article image
Godfrey Benjamin
Toncoin among few altcoins with positive growth outlook on market today
Toncoin (TON) Taps Major Listing, Here's Its Impact on Price
Cover image via

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News

Toncoin (TON) has joined the list of the best performing altcoins on the market today, having surged by 6.28% to $2. The growth of Toncoin is best appreciated when placed in comparison to other major assets, including Bitcoin (BTC) and Ethereum (ETH), both of which are down by 1.94% and 2.07%, respectively.

Toncoin is a silent performer, serving as the native token of the The Open Network protocol, a decentralized blockchain that was rebranded from the Telegram Open Network. Toncoin has been breaking new grounds as it seeks to establish itself among the elite blockchain protocols around.

One of its latest strides that appears to be boosting its current sentiment is the listing of the TON/USDT trading pair on the BitForex trading platform. The listing opened the TON token to a whole new market, solidifying its proposition as a multipurpose digital currency.

The upsurge over the past 24 hours has helped TON pare off its losses accrued in the past week and, at the time of writing, the asset is up by a mild 0.52% in the trailing seven-day period.

Toncoin (TON) Listed by People's Exchange KuCoin

Pathway to new milestones

Despite the major strain that the crypto winter introduced into the industry last year, Toncoin was one of the projects that ended 2022 with impressive growth records. As reported earlier by U.Today, Toncoin rose in the ranks to become the 23rd largest cryptocurrency, and while it has slipped three steps from this level, TON is still tagged as one of the elite cryptocurrencies serving defined utility today.

Based on its close affiliation with messaging platform Telegram, TON stands to benefit immensely from the growth of the platform in general. Both entities have been doing a lot to integrate each other's technology with the goal of dominating the evolution of payments through social media in the near future.

article image
About the author

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on, Cryptonews and Coingape, among others.