Toncoin (TON)'s broader digital currency ecosystem is consolidated, with prices slipping from earlier bullish trends.
Toncoin (TON) is outshining its peers in the broader digital currency ecosystem as prices consolidate following earlier bullish trends.
Prices slip from earlier highs
Toncoin prices are up more than 4.8% over the past 24 hours, trading at $6.76 at the time of writing, as per data from CoinMarketCap.
When placed side by side, Bitcoin (BTC) prices were seen at $58,111.04, slipping by 3.05% within the same period. XRP prices also lagged behind, trading for $0.5841 at 2.95% up over 24 hours.
Cardano (ADA) also saw a 1.88% price slump to $0.3304. Over the past week, TON has been in the lead, jumping by over 11%, with BTC and ADA dropping by 2.22% and 0.2%, respectively. XRP has maintained its resilience over the past week with a 0.87% surge.
Toncoin’s performance in eyes of its peers
Toncoin’s growth over the past few months hinges on the vibrant ecosystem it represents, The Open Network. TON has dominated the blockchain gaming ecosystem thus far, with the likes of Hamster Kombat, Notcoin and Catizen helping it amass massive users.
The incentivization model of these games has placed an enormous demand on TON, contributing to its sustained resilience in the face of uncontrollable market slumps.
Toncoin is outshining BTC, ADA and XRP, but this is not a new trend, as the coin has a rich history of making similar moves. Notably, this growth trend from TON is also based on the backing it receives from top industry giants like Pantera Capital.
Beyond the influx of Venture Capital firms, whale investors have swooped into the ecosystem, helping to solidify its growth trends across the board. Overall, Toncoin is stabilizing its foothold in the top 10 list of the most capitalized coins, with plans to sustain this outlook in the long term.
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