The Toncoin cryptocurrency has recently hit a new all-time high, showing significant growth in its price. On April 8, the Toncoin (TON) price reached a historic peak, surpassing $5.90. According to CoinMarketCap, the asset saw an 8.3% increase in a day and a remarkable 103% surge in a month. Currently, the cryptocurrency is trading at $5.88, marking a 9.6% rise in the past 24 hours. TON’s market capitalization also reached a record high, standing at $20.3 billion.

This surge in Toncoin’s price comes amidst various developments in the cryptocurrency space. Last week, TON made its way back to the top 10 by market capitalization, nearly doubling its price in a month. The founder of Telegram, Pavel Durov, recently introduced a new financial reward system for Telegram channel owners. Additionally, Telegram’s preliminary valuation of $30 billion and the launch of a perpetual futures contract for Toncoin on Binance have contributed to Toncoin’s success.

Pavel Durov, along with his brother Nikolai, launched the Telegram Open Network (TON) blockchain in 2018. Despite facing legal challenges with the U.S. SEC, the TON network has continued to evolve with the support of the TON Foundation community members. The SEC lawsuit against Telegram in 2019 led to a settlement where investor funds were returned, and a fine of $18.5 million was paid.

The recent achievements and developments in the Toncoin ecosystem highlight its growing popularity and potential for future growth. Investors and enthusiasts are closely monitoring Toncoin’s progress in the dynamic cryptocurrency market.

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