Sirwin
Sirwin

Kucoin new gem: Toncoin

By Crypto4you23 | Cryptoanswers22 | 27 Oct 2022


Are you tired to research for a new gem? Did you ever tried Toncoin?

The Telegram cryptocurrency with the price of more or less $2 is creating a huge impact after being listed on Kucoin.

The price goes up with 53% during a week.

Comparatively, its performance is 2.5 times better than the 20.76% amassed by Bitcoin over that time, and 6 times better than the 8.52% achieved by Ethereum.

Despite the increase, Toncoin has lost 50% of its value since the beginning of the year, when it was trading at $3.7.

The Telegram Open Network, often known as TON, is a blockchain network that Telegram created to facilitate smart contracts, decentralized apps (dApps), and the use of its own currency, TON, for micropayments inside the messaging service.

Despite the price's optimism, it doesn't seem like the cryptocurrency has any significant news that will excite investors.

In the Telegram environment, which recently stated that it will make the function of buying usernames available, its ecology looks to be fairly isolated.

The service is similar to the Ethereum Name Service (ENS), the domain engine for Ethereum, where users pay a fee to register a name in the smart contract network.

The name can be used as an address for sending and receiving cryptocurrency once it has been registered and associated with the registrant's wallet.

The cryptocurrency's inclusion on the KuCoin, which in the eyes of investors can confirm the increasing demand for the asset, may also have contributed to the rise of the asset.

 

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