The price of this top 10 cryptocurrency increased by 100% in 3 months – How to explain this increase?

The project’s cryptocurrency has shown a staggering increase of over 100% in the last 3 months and is now approaching a market cap of $20 billion. How to explain such a remarkable performance of this cryptocurrency?

TON: Growing adoption and thriving ecosystem

While the cryptocurrency sector is trying to revive, the TON token is an exception in the markets. The top 10 cryptocurrency has been experiencing a remarkable rise recently, doubling its price in just 3 months.

👉 To learn more about TON – The Open Network (TON), a blockchain designed for Telegram

The rise in the price of the TON token can be explained by several key factors. First, adoption of its blockchain, The Open Network, is growing. The number of active addresses on the TON blockchain has grown significantly in recent months, demonstrating the growing interest in its features and potential.

Blockchain TON is also Telegram’s preferred solution for integrating its services on Web3. Telegram, one of the most used messaging systems in the world, has approximately 900 million users.

Earlier this month, the messaging app introduced a widget payment system called Telegram Stars. The latter offers app developers lower fees than traditional platforms such as the Apple and Google app stores.

Telegram’s potential user base, approximately 100 times larger than the current base of all other blockchains combined, is good news for the future development of TON and its ecosystem.

In addition to growing adoption, TON benefits from a growing ecosystem. New projects and decentralized applications (DApps) are regularly deployed on the blockchain.enriches its functions and attracts new users.

such, The total locked value of TON (TVL) recently exceeded $610 milliondouble compared to just 3 weeks.

Development of TVL on the TON blockchain from the beginning of 2024

All these diversifications strengthen the utility of TON and attract a wider audience, which positively contributes to the value of its token.

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What are the other big winners in recent months?

The current context plays in TON’s favor. Memecoins, humorous cryptocurrencies often associated with viral trends or web communities, are currently particularly popular on The Open Network.

According to data from CoinGecko, some memecoins deployed on the TON network have experienced an unexpected surge in the past 7 days. Resistance Dog (REDO), The Resistance Cat (RECA), and TEPE are up 59%, 92%, and 70%, respectively, over that period.

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While TON currently stands out as one of the big winners in the market, other cryptocurrencies have also seen remarkable performances in recent months. Between them, we can quote PEPE, XMR, KAS and BNBwhich have seen increases of 78%, 67%, 63% and 47% in the last 3 months.

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Source: Coincodex

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