Toncoin (TON) Rises 17% as Market Recovers

One of the more noteworthy events today has been the rise of Toncoin (TON), which increased by up to 17% amid an overall market recovery. Indeed, Bitcoin has risen above $63,000, with assets like Render (RNDR) soaring throughout the day.

Toncoin is currently selling at around $7, up more than 23% over the last week, according to CoinMarketCap. Furthermore, the cryptocurrency embedded inside the popular messaging program Telegram has seen a 50% monthly gain.

Telegram Toncoin Rises to $7 in Key Rally

Although we are only five months into the year, 2024 has already proven to be a watershed moment for cryptocurrencies. Indeed, the digital asset market has witnessed several asset increases this year. Despite a market-wide drop in April, many of those tokens have resumed their upward trend.

Toncoin (TON), a Telegram-integrated and Open Network native token, has risen to 17% today to trade above $7. Indeed, the asset temporarily reached $7.20, its highest point in over three weeks.

The gain coincides with an overall market rebound, with TON still outperforming the positive network. Furthermore, the increase in value is likely due to the forthcoming release of Telegram’s Notcoin game. The game’s native token, NOT, will launch on May 16th and be minted on the Open Network.

NOT Coin to List on Binance, Bybit, OKX

The NOT coin is already expected to be supported by major cryptocurrency exchanges. According to the TON blockchain, some platforms include Binance, Bybit, and OKX. In anticipation of the launch, Binance offers 3 billion coins to users who stake the platform’s BNB or FDUSD stablecoins.

OKX also announced a reward program for TON stakes. Overall, these changes have contributed significantly to TON’s current climb. Furthermore, it stems from a recent Panerra Capital investment in TON.

When the investment was announced earlier this month, the asset price increased. Despite the unknown sum, the corporation discussed the token’s Telegram integration. It was explicitly mentioned as the most critical component in their investment decision.