On April 9, Toncoin reached its peak price of $6.50, marking a significant increase of 20% for the day. This exceptional growth surpassed the performance of all other cryptocurrencies in the top 50 in terms of market capitalization.
Through the major shift, Cardano (ADA) has been surpassed, allowing it to secure the tenth position in the cryptocurrency rankings with a market capitalization of $22.4 billion.
Despite a 4% increase on the day, pushing Cardano‘s price up to around $0.61, it has fallen out of the top ten cryptocurrencies by market capitalization due to its value remaining over 80% below its 2021 high.
Additionally, Telegram’s native digital asset has experienced a significant gain of over 150% since March, as reported by CoinGecko.
Toncoin Payments and AI Program
Recently, Toncoin has gained significant traction with several noteworthy developments. For instance, Telegram made an announcement earlier this month that they would be switching from using the Euro to their native TON token for transactions within their platform.
Introducing TON payments for advertisers and crypto rewards for content creators on the messaging app led to a significant increase in action within The Open Network.
Over the past month, TonStat reports that the number of accounts on the network has nearly reached 12 million, which is almost double the previous count. Furthermore, there has been a significant increase of around 77% in the number of activated wallets, bringing the total to close to 3 million.
Today’s price surge was kickstarted by companies like The Open Network and HumanCode AI entering the AI field. HumanCode AI recently announced a partnership with The Open Network, offering a $5 million incentive in TON for individuals to join their palm-scanning “proof-of-personhood” system.
Members and users of the TON community can link their wallets and use palm scanning to secure a portion of the distributed 1 million Toncoins through the program.
Demand is high for methods that confirm human involvement in digital processes, stated Dong Zhang, co-founder of HumanCode AI. Unlike other human verification tools, HumanCode’s palm technology ensures more robust privacy safeguards and operates without the need for specialized equipment.
Ton Society collaborates with HumanCode, a cutting-edge AI tech firm, to revolutionize the process of verifying identities online.
TON Society offers 1M $TON in incentives for users to verify their identity
Why does this matter? Let’s find out
— TON (@ton_blockchain) April 8, 2024
Elsewhere on Crypto Markets
Recently, Cardano’s performance has been underwhelming and has faced increased negative rumors (FUD). Its founder, Charles Hoskinson, has been proactively addressing these concerns.
The price of ADA is currently low and has not risen as much as other cryptocurrencies during this bull market, resulting in investors selling off large quantities, causing it to leave the top ten by market capitalization.
Today, Ethereum is performing strongly and has reached a new three-week high of over $3,700, marking an impressive 8% increase in value.
Additionally, Polkadot (DOT), Polygon (MATIC), and Near Protocol (NEAR) each saw approximately a 5% gain in value on that day, contributing to the surge in altcoin prices.
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2024-04-09 08:50