Ethereum
Toncoin Points to Notcoin Rollout as Bitcoin and Ethereum Trade Flat
Toncoin, the native cryptocurrency of The open network (TON), is one of the biggest gainers in crypto markets on Thursday amid launch news of one of the network’s most anticipated tokens. And these are the two largest global coins, Bitcoin And Ethereumhave barely moved over the past day.
Over the last 24 hours, TON is up almost 13% at a current price of $6.46, per data from CoinGecko. This makes it the second largest coin in the top 100 cryptocurrencies by market capitalization, behind Akash Network (AKT), an AI-centric cloud computing project that saw a 16% jump that day.
Much of the gains came after The Open Network project Notcoina viral game based on Telegram, announced that its expected token NOT will launch on May 16. The project attracted 35 million players before April 1, when the “mining phase” ended, and the launch has been on the horizon for weeks amid some previously missed listing targets.
One of TON’s biggest price increases so far came on Thursday shortly after crypto exchange Binance announced it would be offering billions of NOT tokens as rewards to its customers via pre-registration . staking rewards.
Alongside a similar campaign from rival exchange OKX, over 4 billion NOT tokens will be distributed through such rewards initiatives. OKX users, in particular, will need to stake TON tokens to earn rewards, which could lead to increased purchases of Toncoin in the days to come.
Over the past day, centric perpetual decentralized exchange (DEX) dYdX also announced its support for Toncoin, while Hong Kong’s HashKey exchange listed TON on Thursday. With today’s price action, Toncoin is now up 24% from last week.
However, there have been few big winners among the top 100 cryptocurrencies over the past day and, as noted, Bitcoin and Ethereum are doing little.
The price of Bitcoin is up 1% on the day at $62,420 at the time of writing, a total gain of 5% over the past seven days, while Ethereum has increased by approximately 2% today at $3,020, but over the past week it hasn’t even increased 1%.
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment or other advice.
Edited by Ryan Ozawa.