Toncoin (TON) Taps Major Listing, Here's Its Impact on Price

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.

Timeline of Toncoin

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.

The TON Foundation, a non-profit association of developers and enthusiasts that exists to advance The Open Network (TON), has today announced that Tonstarter, the primary fundraising platform on TON, has closed a seed round of $1.5 million.

Today, TON validators will vote on a proposal to adjust the circulating supply of the Toncoin. If approved, the Toncoin circulating supply will be reduced by 20%— freezing it for the next 48 months and then unfreezing it.

TON validators are set to vote on a proposal that could adjust the supply of Toncoin by freezing 1 billion tokens for the next 48 months before eventually unfreezing it.  The proposal aims for greater decentralization and, if executed, could see the supply of Toncoin drop by around 20%.

Margex users can now deposit TON and use it as collateral to trade all available pairs on the platform MOSCOW , Jan. 27, 2023 /PRNewswire/ -- Margex, a leading cryptocurrency exchange platform, is proud to announce that it is among the first exchanges to offer Telegram's TON coin to its users. The addition of TON coin to the platform's list of available options will provide users with more opportunities to diversify their portfolios and take advantage of different market trends, settling all trading outcomes in TON.