Toncoin surpasses Cardano in market capitalization, achieves record-breaking peak
Toncoin has surpassed Cardano in market capitalization, securing the ninth spot in the ranking of the largest cryptocurrencies. According to data from CoinMarketCap, Toncoin’s market cap currently stands at $23.1 billion, while Cardano’s market cap is at $21.5 billion.
This shift in rankings comes as Toncoin continues to experience growth, reaching a new all-time high on April 9. The cryptocurrency reached a peak of $7.08 and is currently trading at $6.63, marking an 8.6% increase in the past 24 hours.
Toncoin’s recent success can be attributed to several factors, including a series of upgrades and partnerships. The TON Society, for instance, has partnered with HumanCode, a developer of AI solutions, to introduce biometric identification in the popular messaging app Telegram. Additionally, the TON community has launched a one million Toncoin incentive program to support the implementation of a new digital verification standard.
Furthermore, Telegram’s announcement that it will integrate payments into TON has positively impacted the Toncoin rate. This integration allows users to purchase advertising using the ecosystem token and rewards content creators for posting ads.
In terms of price performance, Toncoin has seen a significant increase of over 135% in the past month, while Cardano has experienced a decrease of 15%. Year-to-date, Toncoin has surged by 183%, while Cardano has declined by 1.3%.
With Toncoin’s recent achievements, it has cemented its position among the top 10 cryptocurrencies by market capitalization, overtaking Avalanche.
