Toncoin (TON) has recently made significant gains, surging to $5.6 before settling back to $5.24.

On Mar. 26, Toncoin’s native token (TON) reached $5.6, approaching its previous all-time high reached in November 2021 at $5.8. This surge has pushed TON’s market capitalization above $18 billion, making it the eleventh largest token by market value.

The recent price increase can be attributed to several positive developments related to the project, largely due to its affiliation with Telegram, the popular cloud messaging platform founded by the Durov brothers. Telegram is one of the most widely used messaging apps globally.

One major factor contributing to the price surge is Telegram’s plan to go public with a valuation of $30 billion. While the exact timeline is uncertain, this announcement boosted TON’s price from $2.78 to $4.46.

Additionally, Binance, a leading cryptocurrency exchange, introduced perpetual futures trading for TON, further attracting investors to the token. In March, TON also launched The Open League, a 30 million TON initiative designed to incentivize TON ecosystem usage by rewarding participants engaging with ecosystem projects.

Year-to-date, TON’s price has increased by over 150%, making it one of the fastest appreciating tokens. This growth surpasses that of Bitcoin, which has seen a YTD increase of only 68.83%, according to MarketWatch data.

For more information, TON has announced collaborations with Fireblocks and DWF Labs.

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