Toncoin (TON), the native token of The Open Network blockchain, has gained immense popularity in the world of cryptocurrency. In the year 2024, it has shown an impressive price performance, surpassing even Bitcoin by 118% according to CryptoQuant analysis. While US traders have shown a bullish attitude towards TON, the sentiment among European traders is quite the opposite.
Upon examining the price fluctuations during various trading sessions, CryptoQuant identified that different investor groups have contrasting views on TON. American investors are seemingly the most bullish on the token, with significant positive price changes often occurring during the US trading session. Conversely, European traders appear to be more bearish, as indicated by negative price changes during their local session. Asian traders, on the other hand, seem to be in line with historical price trends, experiencing both positive and negative movements.
Despite facing initial regulatory hurdles from the US Securities and Exchange Commission (SEC), Toncoin has managed to expand its ecosystem and attract developers and users alike. The introduction of Notcoin (NOT), a project aimed at promoting Web3, has garnered significant attention on the TON blockchain. By airdropping over 80 billion NOT tokens to participants, the project has gained traction within the community.
Telegram, a popular messaging app, recently integrated cryptocurrency and blockchain technology into its platform, specifically utilizing the TON blockchain. Advertisers now have the option to pay with TON, while content creators can receive crypto payouts using the token. This integration has paved the way for a new crypto-powered advertising ecosystem within Telegram, benefitting both advertisers and creators.
In a bid to further expand its reach, the TON ecosystem partnered with HashKey Group, the parent company of a Hong Kong-licensed crypto exchange. This collaboration aims to facilitate the on- and off-ramping of crypto and fiat for users in the Asia-Pacific region through the messaging app Telegram. Additionally, stablecoin issuer Tether recently announced the launch of USDT and XAUT tokens on The Open Network, targeting Telegram’s massive user base of 900 million.
Toncoin has emerged as a prominent player in the crypto market, with its increasing popularity and strategic partnerships contributing to its growth. Despite initial setbacks, the token has shown resilience and adaptability, positioning itself as a frontrunner in the ever-evolving world of blockchain technology.
