24 May 2023 10:59, UTC
Reading time: ~2 m
Toncoin (TON) has joined the list of the best performing altcoins on the market today, having surged by 6.28% to $2. The growth of Toncoin is best appreciated when placed in comparison to other major assets, including Bitcoin (BTC) and Ethereum (ETH), both of which are down by 1.94% and 2.07%, respectively.
Toncoin is a silent performer, serving as the native token of the The Open Network protocol, a decentralized blockchain that was rebranded from the Telegram Open Network. Toncoin has been breaking new grounds as it seeks to establish itself among the elite blockchain protocols around.
One of its latest strides that appears to be boosting its current sentiment is the listing of the TON/USDT trading pair on the BitForex trading platform. The listing opened the TON token to a whole new market, solidifying its proposition as a multipurpose digital currency.
🆕BitForex new listing: TON @ton_blockchain
⏰2023/05/23 18:00 (GMT+8)
✈️https://t.co/A2T9QMAJZP#BitForex #newlistings #Crypto #cryptocurrency $TON pic.twitter.com/68xjcaChPJ
— BitForex (@bitforexcom) May 23, 2023
The upsurge over the past 24 hours has helped TON pare off its losses accrued in the past week and, at the time of writing, the asset is up by a mild 0.52% in the trailing seven-day period.
Pathway to new milestones
Despite the major strain that the crypto winter introduced into the industry last year, Toncoin was one of the projects that ended 2022 with impressive growth records. As reported earlier by U.Today, Toncoin rose in the ranks to become the 23rd largest cryptocurrency, and while it has slipped three steps from this level, TON is still tagged as one of the elite cryptocurrencies serving defined utility today.
Based on its close affiliation with messaging platform Telegram, TON stands to benefit immensely from the growth of the platform in general. Both entities have been doing a lot to integrate each other’s technology with the goal of dominating the evolution of payments through social media in the near future.
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