#How Did Toncoin Benefit from Telegram's Involvement?
Toncoin experienced a significant surge of over 30% following the announcement by Telegram's founder that the company would become the principal force behind the network. This news encouraged not just Toncoin but also meme coins within the TON ecosystem to rally.
With Telegram stepping in as the largest validator, the focus will be directed towards essential technical developments. Within an estimated two to three weeks, users can anticipate improvements such as an updated ton.org, enhanced developer tools, and overall performance upgrades.
In a stunning climb, Toncoin's price jumped from $1.37 to $1.84 within 24 hours, marking a surge that elevated its market capitalization to $4.5 billion. Alongside this price increase, the trading volume saw an impressive increase of 600%, reaching over $630 million.
#What Impact Did This Have on Meme Tokens?
During the same time frame, the total market capitalization of meme tokens associated with TON swelled by 67% in just one day. Notcoin, which is gaining popularity through Telegram mini-apps, saw a 26% rise. Meanwhile, the community-driven token named Dogs soared by over 90%.
Despite the remarkable percentage growth of Dogs, it's essential to note that this rebound followed significant prior losses, with the token still down approximately 96% from its peak. Notcoin is similarly struggling, trading around $0.0004, which is roughly 98% lower than its all-time high of about $0.029.
#Which Smaller Tokens Showcased Greater Potential?
Smaller-cap tokens exhibited even more dramatic movements. Morfey skyrocketed by nearly 1,000%, while Resistance Duck increased by 645%. Cubigator also made tremendous gains with a rise of 390%.
Investors should keep a close watch on these trends as the collaboration between Telegram and the TON network could potentially reshape the landscape for these cryptocurrencies.