Toncoin Surpasses Dogecoin To Become The 8th Largest Cryptocurrency

July 1, 2024

In the past week, whale investors have bought over 45 million Toncoin (TON), amounting to roughly $346.5 million in value.

This surge in purchases has propelled Toncoin’s market capitalization beyond $18.8 billion, enabling it to surpass Dogecoin (DOGE) and secure its place as the 8th largest cryptocurrency globally.

One significant factor contributing to Toncoin’s rapid ascent is the introduction of mini apps, which have sparked considerable interest in the Ton Blockchain. These applications have attracted developers and users alike, enhancing the ecosystem’s overall appeal.

Adoption Of Tether On The Ton Blockchain Plays Crucial Role 

Moreover, the adoption of USDT (Tether) on the Ton Blockchain has played a crucial role in this growth. The partnership between Tether and TON has significantly boosted the adoption of stablecoins on Telegram, a key platform for TON users. The supply of USDT on the TON blockchain has now surpassed 500 million, underscoring the increasing demand for stablecoin solutions within this ecosystem.

Together, these developments have created a robust foundation for Toncoin’s growth, enabling it to climb the ranks and establish itself as a leading cryptocurrency.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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About The Author

Will

Will is a News/Content Writer and SEO Expert with years of active experience. He has a good history of writing credible articles and trending topics ranging from News Articles to Constructive Writings all around the Cryptocurrency and Blockchain Industry.