Toncoin (TON) made headlines in the cryptocurrency world as it overtook Cardano (ADA) to claim the ninth position in terms of market capitalization on April 9th.

With a remarkable 13% surge in its daily price, TON soared to a new all-time high of $7.08. This surge propelled its market capitalization to over $23 billion, surpassing Ada’s market value of $21.4 billion, according to data from CoinMarketCap. In contrast, Cardano experienced a 2.1% decline, with its current price hovering around $0.60.

Toncoin, after linking with Telegram, overthrew Cardano to become the 9th largest cryptocurrency.

Toncoin (TON) surpassed Cardano (ADA) to become the ninth largest cryptocurrency by market capitalization on April 9.

After a 13% daily price increase, #TON rose to $6.65 at 1:45… pic.twitter.com/QPceor1hiz

— Rodrygo (@rodrygogoes001) April 9, 2024

Reports indicate that Telegram, the popular messaging app, played a significant role in TON’s ascent. Telegram pledged to distribute half of its advertising earnings to channel owners, exclusively in TON. Last week, Telegram further solidified its commitment to the TON ecosystem by announcing that it would accept revenue for TON advertising.

Moreover, the integration with Telegram has opened up new avenues for cryptocurrency projects. Notcoin, a Telegram-based game, attracted a staggering 35 million players over the last three months. In an effort to reward its participants, Notcoin will introduce its native token, NOT, on the TON blockchain on April 20th.

Telegram has announced that owners of public channels with at least 1,000 subscribers can receive 50% of the revenue from ads displayed on their channels, which will be available on Fragment in the coming weeks. Additionally, Telegram is launching a new type of advertising that…

— Wu Blockchain (@WuBlockchain) April 1, 2024

Toncoin’s meteoric rise and its partnership with Telegram signify a significant milestone in the cryptocurrency space. As the competition among digital assets intensifies, the collaboration between blockchain projects and popular platforms like Telegram underscores the growing mainstream adoption of cryptocurrencies.

Overall, Toncoin’s achievement of surpassing Cardano highlights the dynamic nature of the cryptocurrency market and the importance of strategic partnerships in driving growth and adoption within the industry.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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