Toncoin's Remarkable Surge Propels It Into the Top Ten Digital Assets

By: Eva Baxter

Toncoin, associated with the renowned messaging platform Telegram, has seen an exceptional rise, vaulting it straight into the top ten digital assets by market capitalization. This remarkable event stems from several developments within the network, the most significant of which is the recent partnership between TON Society and AI company HumanCode to initiate an identity verification system using advanced palm scanning technology.

TON Society is providing a million TON tokens, approximately equal to $7 million, as an incentive for users to validate their identities. Concurrently, Telegram has evolved to integrate Toncoin payments for its innovative advertising initiative, which allows users to purchase advertisements using Toncoin and shares revenue with public channel creators with more than 1000 subscribers.

This series of developments in the TON ecosystem has ignited a price surge of over 22% in a single day, with a consistent upward trend resulting in gains exceeding 30% over the past week. The token has reached a record-breaking high of approximately $7, leading to a rise in its market capitalization to over $23 billion - surpassing well-known blockchain networks such as Cardano, Avalanche, and Dogecoin.

Moreover, this sharp rise coincides with increased network activity in the TON ecosystem, with the number of active Ton blockchain wallets soaring to 1.65 million in the past month alone, ultimately triggering an exponential rise in daily transactions to over 4 million.