Toncoin has recently surpassed Cardano to claim the ninth spot in the ranking of the largest cryptocurrencies by market capitalization. According to data from CoinMarketCap, Toncoin (TON) now boasts a market capitalization of $23.1 billion, outpacing Cardano’s $21.5 billion at the time of this writing.

This change in ranking comes on the heels of Toncoin’s impressive growth, with the cryptocurrency hitting a new all-time high on April 9 for the second time this month. Currently trading at $6.63, Toncoin reached a high of $7.08, marking an 8.6% increase in the past 24 hours.

Toncoin’s Growth and Upgrades

Over the past month, the price of TON has surged by more than 135%, while ADA has experienced a 15% decline. Year-to-date, TON has seen a remarkable 183% increase in price, while ADA has dipped by 1.3%.

Toncoin’s recent surge to new heights can be attributed to a series of strategic moves by the TON team. The TON Society partnered with HumanCode, developers of AI solutions, to introduce biometric identification in the Telegram messenger. Additionally, the TON community launched a one million Toncoin incentive program to support the adoption of a new digital verification standard.

In late March, Telegram’s announcement of integrating payments into TON had a positive impact on Toncoin’s value. This integration allows users to purchase advertising in the messenger using an ecosystem token, while content creators can earn rewards for posting ads.

For more updates on Toncoin and other cryptocurrencies, stay tuned to Global Crypto News.

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