The Toncoin (TON) cryptocurrency has experienced a turnaround in its price over the past month as it managed to stage an impressive recovery. In the last 30 days, the token registered a growth of 76%, attracting attention in the crypto market.
The magnificent rise in the price of TON has triggered more than 7x growth in active addresses on the Ethereum network, according to data shared by crypto analytics platform IntoTheBlock on September 19.
“The price of $TON has made a significant recovery over the last month. This increase also resulted in a more than 7x increase in active $TON addresses on the Ethereum network,” he noted.
The price of $TON has made a significant recovery in the last month. This increase has also resulted in a 7x+ increase in active $TON addresses on the Ethereum network. @ton_blockchain pic.twitter.com/7hfE29HfUt
— IntoTheBlock (@intotheblock) September 19, 2023
At the time of publication, the price of Toncoin was priced at US$2.51, up 0.6% in the last 24 hours. In the last seven days alone, the cryptocurrency has recorded a 42.1% increase.
The high growth in recent days happened after the TON Foundation announced an integration with the Telegram application, on September 12th. The partnership aims to launch a cryptocurrency wallet, called Ton Space. The new feature allows self-custody for Telegram users.
According to the TON Foundation, the newly launched crypto wallet is now available to Telegram users. Based on the TON cryptocurrency, the wallet can be accessed by the social media platform’s more than 800 million users.
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