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TON inspires: The rise of the best altcoin
The TON price explodes and overtakes Cardano (ADA) - All details about the current forecast and why TON could be the best altcoin right now! Benefit from the power of Toncoin on CoinEx! 📈 #TON #Cryptocurrencies #Forecast
TON inspires: The rise of the best altcoin
The price of Toncoin (TON) has shown explosive development in the last few days, with an increase of almost 140 percent, which resulted in the cryptocurrency entering the top 10 largest cryptocurrencies. This impressive upward trend is supported by various developments and the success of the project is reflected in its trajectory.
Toncoin founders Nikolai and Pavel Durov had a vision to create a connection between internet users, blockchain technology and cryptocurrencies. With a seamless integration with Telegram, access to the Toncoin ecosystem is simplified, resulting in an impressive price increase. In the last 30 days, TON recorded a gain of 138 percent and reached a new all-time high of $7.06 yesterday. With a market cap of around $23.4 billion, TON has overtaken well-known cryptocurrencies such as Shiba Inu, Avalanche and Cardano and could set its sights on Dogecoin next.
Expert estimates suggest that Toncoin could potentially move into a consolidation phase between $6.50 and $6.75. Although TON's price rise has temporarily stalled, the cryptocurrency remains strong compared to other assets. Amid a broader market decline, TON emerged as the only top 10 crypto stock to post a gain.
Toncoin's impressive price rally is supported by various initiatives such as the launch of a self-custody Ton wallet as well as revenue share programs. Telegram introduced the revenue sharing program in which Telegram channel owners receive 50 percent of advertising revenue. The decision to use the TON blockchain is based on low transaction fees and high processing speed. Mirana Ventures has further increased support for TON with an $8 million acquisition of Toncoin and a long-term partnership.
Despite the positive momentum and support, there are also concerns about Toncoin’s decentralization. Analysis shows that there is an uneven distribution of TON tokens in circulation, which is due to the top wallets controlling a majority of the tokens. The dependence on the top holders and their power over the pricing of the token is considered a critical point. Investors should be aware that their investment in Toncoin could be influenced by the decisions of these top holders.