Toncoin (TON), the native token of The Open Network blockchain, has been gaining significant attention in the cryptocurrency market. According to the latest analysis by CryptoQuant, TON has outperformed Bitcoin by 118% since the beginning of 2024. The on-chain analytic company has found that while US traders are bullish on TON, European traders have shown a more bearish sentiment towards the token. By examining price fluctuations across different trading sessions, CryptoQuant has identified various investor groups with differing opinions on TON.
The analysis of price performance during global trading sessions reveals that American investors are the most bullish on TON. The US trading session has seen numerous instances of significant positive price changes for TON. On the contrary, European traders have displayed a more bearish attitude, with multiple instances of negative price changes during local sessions. Asian traders, on the other hand, seem to align with past price performance trends, showing both positive and negative price movements.
Despite facing regulatory hurdles from the US Securities and Exchange Commission (SEC) in its early stages, TON has made significant strides in expanding its ecosystem and increasing user engagement. Projects like Notcoin (NOT), a web3 clicker game designed to introduce users to Web3, have gained traction on the TON blockchain. Notcoin has airdropped over 80 billion NOT tokens to participants in recent weeks, showcasing the growing interest in decentralized applications on the TON network.
Telegram, the popular messaging app, has integrated cryptocurrency and blockchain technology, particularly the TON blockchain, into its platform. Advertisers can now pay using TON, while content creators have the option to receive crypto payouts in the form of TON tokens. This integration has created a new crypto-powered advertising ecosystem within Telegram, enhancing the utility of TON for users. Additionally, the TON ecosystem has partnered with HashKey Group to facilitate on- and off-ramping of crypto and fiat for Asia-Pacific users of the Telegram wallet service.
In a recent development, Tether, the stablecoin issuer, announced the launch of USDT and XAUT tokens on The Open Network. This move aims to tap into Telegram’s massive user base of 900 million users, further expanding the utility and adoption of TON in the cryptocurrency market. With a series of partnerships and developments, TON coin continues to make a mark in the blockchain industry and attract a diverse range of users and investors.
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