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The cryptocurrency market continues to run into several significant hurdles, although Toncoin (TON) is looking strong, notching yet another fresh all-time high at $8.01 today. With a minor correction to $7.84, the token added 10.49% in the past month, while its market capitalization now stands at $19.06 billion—number nine in the global ranking. Its performance was further boosted on this day by 2.93%, and trading volume expanded by 4%, reaching $520.38 million.
During the past month, Toncoin continued growing, capable of gaining for 13 days. At the moment, investors are speculating that TON might go over the level of $10 since the token keeps demonstrating severe trading activity, besides having a volume-to-market cap ratio of 2.72%. Volatility and, to a large extent, its influence on the market has been registered after the token reached a 24-hour high of $8.01, followed by a minor decline.
The spike in Toncoin’s traction is primarily attributed to the vast 900 million user base of Telegram, fueling massive network activity. Improvement in features, like Tether (USDT) integration, followed by fresh projects within the ecosystem, such as Notcoin and Telegram Stars, further fueled interest and activity.
