Toncoin, The Open Network’s native cryptocurrency, has shown a significant rise in the past 24 hours. Among the top 100 market-cap cryptocurrencies, it gained second place after Akash Network in performance.
Toncoin’s value rose significantly over the past 24 hours, climbing from about $6.04 to $6.98, an increase of over 15%. The trading volume also spiked significantly, up 153%, which indicates a high level of trading activity, This is according to CoinMarketCap Data
The price jump is closely tied to the upcoming launch of NOT, which is scheduled for May 16, following a period of heightened anticipation and some delays in listing targets.
This has further fanned interest after major cryptocurrency exchanges Binance and OKX announced the distribution of token rewards to their customers. Moreover, OKX called upon its customers to buy and stake TON to earn rewards.
While Toncoin has seen quite large gains, the wider cryptocurrency market remains relatively stable, with Bitcoin and Ethereum only up by 1% and 2%, respectively. This attests to the crypto market’s dynamic features, where some developments can lead to significant changes in the value of individual coins.
Also Read: Binance Unveils Notcoin (NOT) as 54th Launchpool Project
