Toncoin (TON), a Layer-1 cryptocurrency integrated with Telegram, has surged over 6.5%, hitting an all-time high of $7.65 with trading volumes exceeding $354M.
Layer-1 cryptocurrency Telegram-integrated Toncoin (TON) has surged by over 6.5 percent, defying the general market consolidation. Trading volumes have surpassed $354 million, and the price of Toncoin has reached an all-time high of $7.65, contributing to a market worth of $18.6 billion.
Toncoin-Linked New Telegram In-App Currency Announced
In a move that would unify all of Telegram’s mini-apps into a single crypto-backed ecosystem, CEO Pavel Durov unveiled a new in-app currency on Thursday, June 6.
You can buy Stars, the in-app currency, with real money through in-app purchases on Android and iOS, or directly in Telegram. Later on, the widely used messaging network will include small programs like Notcoin and Hamster Kombat, where users can use Stars to purchase digital goods. Telegram made a note of:
“With fast, user-friendly payments for digital goods and services, the bot and mini app platform will allow new types of businesses to reach over 900 million potential customers inside Telegram”.
Telegram
The Open Network’s chosen cryptocurrency, Toncoin (TON), will soon be available for developers on Telegram to withdraw, according to Pavel Durov. These transactions will take place in Fragment, the marketplace for in-app usernames and advertisements on Telegram.
Afterwards, the Wallet bot on Telegram will allow developers and retailers to trade TON for other cryptocurrencies, including USDT, the biggest stablecoin in the world.
TON Whale Activity: Can We Expect Prices to Keep Rising?
There is a big whale accumulation happening for Toncoin at the moment, which is supporting the current price surge. This week, leading market analyst Ali Martinez reported that The Open Network whale transactions increased by more than 237% in just one day.
Toncoin whale transactions surged from five a week ago to twenty-seven as of June 3, according to Martinez’s data.
If Bitcoin and the cryptocurrency market as a whole continue their climb this year, analysts believe Toncoin’s price will reach $10.