TON network announces its new encrypted messaging feature

The TON network, developed by the TON Foundation, recently unveiled a new on-chain encrypted messaging feature, allowing users to send private messages within the network. TON, which originated from code created by the Telegram instant messaging app team, was forked and open-sourced after Telegram abandoned the project in July 2020 before its mainnet launch.

Timeline of Toncoin

In Q2 2023, The Open Network (TON) saw a 2.88 million total accounts and 173 million transactions, making it the 14th largest cryptocurrency by market capitalization. TON's technology, ecosystem, and economy improved significantly, comparable to the previous quarter.

The Open Network (TON) currently provides multiple excellent cross-chain solutions: a bridge for Toncoin between the TON network and Ethereum or BNB Smart Chain, as well as a token bridge that enables the transfer of Ethereum tokens (such as USDT or USDC) to the TON network and vice versa.

Toncoin (TON) has experienced a negative price decline, resulting in a bearish sentiment among investors of the altcoin. TON has been exhibiting a bearish strength on a monthly timeframe, based on data from CoinMarketCap.

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.

The Open Network (TON), an avant-garde technology aiming to integrate all blockchains and Web2 internet into a unified network, revealed today that it had launched its highly anticipated TON Accelerator Program.

Toncoin is trading in the red today, losing some of its price gains in the past week. Its 24-hour trading volume is down over 3% at press time, indirectly contributing to today's price slump.

Recently, the price of Toncoin (TON) witnessed a rapid decline, causing investors and traders to worry about the asset's potential. The bear's refusal to surrender control can cause TON's price to drop, increasing the negative market sentiment around it.

As the broader cryptocurrency market turns bullish, with Ethereum breaking past the $1,840-resistance level to hit $1,900 and Bitcoin attempting to climb above $29,200 again, Toncoin (TON/USDT) displayed mixed signals based on various technical indicators.

Toncoin [TON] has gained 15.85% in the past week, measured from the swing low at $1.96 that TON registered last Saturday. It appeared likely that bulls could continue to drive prices higher.

With the bears controlling the crypto market, many coin prices have gone south, trading at values far below their previous weeks' prices. The downtrend could be due to increased bearish sentiments and fear among investors in the market.