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Despite the global cryptocurrency segment taking a breath, the Toncoin (TON) price shows no signs of exhaustion. After a multi-week rally, it targets fresh capitalization records and onboards dozens of decentralized applications (dApps) daily.
Toncoin (TON) up by 5%: Top performing crypto in elite league
Today, on June 13, 2024, the price of Toncoin (TON) added almost 5%. It stopped one step from a new ATH over $7.65, while Toncoin (TON) capitalization reached $18.55 billion. Recently, TON replaced veteran cryptocurrency Cardano (ADA) as the 10th largest digital asset.
As such, TON is the only asset in the top 20 that demonstrates positive dynamics and the best performing cryptocurrency in the top 100.
Daily trading volume has also increased: with net trading volume over $723 million, it becomes the 10th most traded asset, excluding stablecoins USDT, USDC, eUSD and FDUSD.
As covered by U.Today previously, seasoned analyst Ali Martinez indicated the possibility of a jaw-dropping 40% rally for the TON price.
Although the TD Sequential Indicator is hinting at potential drop, the midterm goal for TON price action is above $11, the top trader says.
Toncoin (TON) hits $500 million TVL milestone
Also, the Toncoin (TON) ecosystem of cryptocurrency applications accomplished a number of new milestones last week. Its total value locked (TVL) metrics eclipsed $500 million.
Right now, TON is hosting over 650 decentralized applications of various types. Largely, its popularity should be attributed to the euphoria around "Tap-to-Earn" apps like Notcoin (NOT), Hamster Combat (HAMSTER) and so on.
By some data, TON even surpassed Ethereum (ETH) in the number of daily active addresses transacting on-chain. However, this calculation excludes L2 solutions on Ethereum Virtual Machine (EVM).