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Toncoin TON/USD is rallying over 11% in the past 24 hours, outshining apex crypto Bitcoin BTC/USD and Ethereum ETH/USD.
What Happened: At the time of writing, TON was trading at $2.42. BTC at $17,777, up 3.49% and ETH at $1,318, up 4.67% in the past 24 hours.
The rally can be attributed to Telegram’s decision to launch the sale of anonymous numbers based on The Open Network (TON). DeFiLlama, the largest TVL aggregator for DeFi, has also started tracking TON.
The Tegro team completed testing the Libermall NFT Marketplace on the TON testnet and intends to launch the platform in the mainnet by the end of the year, driving positive sentiments in the market.
See More: Best Crypto Day Trading Strategies
TON is currently trading above both its 50-day and 200-day Simple Moving Averages (SMAs). This demonstrates that the asset’s short-term and long-term price movements are mostly positive, indicating a bullish trend in TON’s price over the course of its trading history.
Toncoin has implemented a proof-of-stake system which expedites its adoption. This approach rewards investors for staking their tokens, allowing them to benefit without having to go through the laborious process of mining.
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Image and article originally from www.benzinga.com. Read the original article here.