Toncoin, the native cryptocurrency of The Open Network (TON), is among the greatest gainers atop the crypto markets Thursday amid launch information about one of many community’s most anticipated tokens. And it comes as the 2 largest total cash, Bitcoin and Ethereum, have barely moved during the last day.
Over the previous 24 hours, TON is up nearly 13% to a present worth of $6.46, per information from CoinGecko. That makes it the second-largest coin within the prime 100 cryptocurrencies by market cap behind Akash Network (AKT), an AI-centric cloud computing venture that’s seen a 16% soar on the day.
A lot of the positive factors got here after The Open Community venture Notcoin, a viral Telegram-based recreation, introduced that its anticipated token NOT will be launched on May 16. The venture attracted 35 million gamers forward of April 1, when the “mining section” ended, and the launch has been on the horizon for weeks amid a few beforehand missed itemizing targets.
One of many greatest TON worth will increase thus far on Thursday got here shortly after crypto alternate Binance introduced that it could supply billions of NOT tokens as rewards to its prospects through pre-listing staking rewards.
Together with an identical marketing campaign from rival alternate OKX, greater than 4 billion NOT tokens can be distributed through such rewards initiatives. OKX customers, specifically, might want to stake TON tokens to earn rewards, which may drive a rise in Toncoin purchases within the days forward.
Within the final day, perpetual-centric decentralized alternate (DEX) dYdX additionally introduced help for Toncoin, whereas Hong Kong’s HashKey alternate listed TON on Thursday. With right this moment’s worth motion added in, Toncoin is now up 24% during the last week.
There have been few massive gainers among the many prime 100 cryptocurrencies over the previous day, nonetheless, and as famous, Bitcoin and Ethereum are doing little.
Bitcoin’s worth is up 1% on the day to $62,420 as of this writing, marking a 5% complete achieve over the previous seven days, whereas Ethereum has nudged up by about 2% right this moment to $3,020—however over the previous week, it hasn’t even gained by 1%.
The views and opinions expressed by the writer are for informational functions solely and don’t represent monetary, funding, or different recommendation.
Edited by Ryan Ozawa.
