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Toncoin (TON) has been in the news following big $1 million USD transactions that continue to impede its on-chain volume. According to CryptoQuant, since the value of Toncoin increased in 2024, the number of transactions has soared—a signal of investor interest from whales and an increase in network activities. With the price of the coin already surging to over $0.10 from the beginning of June, this week, activity surged again after the company announced a new project named Stars on June 12. This is a digital currency for frictionless purchases in the Telegram ecosystem. The social media channel, because of the announcement, says this has heightened the buzz, with a surge in the price of the Token. In addition, it has gained popularity due to the Telegram game community token and Cardano competitor Notcoin (NOT). During the last two months, its price has been on the upside to $6.35, ranking ninth in terms of market capitalization, now over $22 billion, temporarily moving above Cardano in the process.
