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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.