- TON, the native cryptocurrency of The Open Network, is experiencing significant gains in the crypto market, with a 13% increase in the past 24 hours.
- This surge comes in the wake of the announcement that the network’s highly anticipated token, NOT, will be launched on May 16.
- Major crypto exchanges Binance and OKX have also announced billions of NOT tokens as rewards to their customers, potentially driving an increase in Toncoin purchases.
Toncoin, the cryptocurrency of The Open Network, sees a significant surge ahead of the launch of its highly anticipated token, NOT. With major exchanges offering NOT tokens as rewards, the crypto market is buzzing with activity.
Toncoin Experiences Significant Surge
The Open Network’s native cryptocurrency, Toncoin, has seen a significant surge in the crypto market, with a 13% increase in the past 24 hours. This surge has placed it as the second-largest coin in the top 100 cryptocurrencies by market cap, just behind Akash Network, an AI-centric cloud computing project.
Anticipated Token Launch Drives Gains
The surge in Toncoin’s value comes on the heels of the announcement that the network’s highly anticipated token, NOT, will be launched on May 16. The token is associated with Notcoin, a viral Telegram-based game that attracted 35 million players. The launch has been eagerly awaited for weeks, with a couple of previously missed listing targets adding to the anticipation.
Major Exchanges Offer NOT Tokens as Rewards
Adding to the buzz, major crypto exchanges Binance and OKX have announced that they will offer billions of NOT tokens as rewards to their customers. In particular, OKX users will need to stake TON tokens to earn rewards, potentially driving an increase in Toncoin purchases in the days ahead.
Other Developments in the Crypto Market
While Toncoin is experiencing significant gains, the two largest overall coins, Bitcoin and Ethereum, have barely moved over the last day. Bitcoin’s price is up 1% on the day to $62,420, marking a 5% total gain over the past seven days, while Ethereum has nudged up by about 2% today to $3,020.
Conclusion
The surge in Toncoin’s value, driven by the upcoming launch of the NOT token and the announcement of rewards by major exchanges, highlights the dynamic nature of the crypto market. As the launch date approaches, the market will likely continue to buzz with activity.
