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Toncoin, the native coin of The Open Network ($TON) and the Telegram ecosystem, is performing better than several of its counterparts. The coin has outshone Bitcoin ($BTC), Ripple-associated $XRP and Dogecoin ($DOGE).
Toncoin outsmarts Bitcoin in recovery phase
A few days ago, the crypto market experienced a significant plunge, with the price of leading digital assets like Bitcoin testing the waters below $50,000. Since then, Bitcoin has recovered a significant portion of its market value, but it is currently not performing as high as $TON.
Based on data from CoinMarketCap, $BTC is currently trading at $60,789.63, corresponding to a 0.32% increase in the last 24 hours. On the other hand, Toncoin has registered a price gain of 3.77% within the same time frame and is trading at $6.72. In the last seven days, $TON has equally seen an upside, recording as much as 9.42%.
Considering how $TON lost a significant amount of its value at the beginning of the week, this is an applaudable outlook for the coin. Bitcoin has yet to recover fully, as it has had a 1.5% deficit in the last seven days.
Market downturn intensifies for $XRP and $DOGE
$XRP and $DOGE demonstrate negative sentiment on the charts. At the time of this writing, $XRP traded at $0.589 after gaining 0.04% in 24 hours. In addition, its market cap and trading volume are facing a mild downturn. The actual figures in these critical metrics equal 0.11% and 46.45%, respectively.
$DOGE has been down by 0.36% in the last 24 hours and is trading at $0.1042. Like $XRP, its market cap and trading volumes have also experienced some dip. Coincidentally, the $DOGE price dip came when Shiba Inu lead developer Shytoshi Kusama compared SHIB superiority to $DOGE, putting the latter at a disadvantage.