Toncoin (TON) is no longer one of the top 10 most valuable cryptocurrencies in the world, following an update from The Open Network to more accurately reflect the asset’s circulating supply via price trackers.In a Telegram As the change went effective, Toncoin’s market capitalization dropped more than $7 billion instantaneously, according to The data reported by CoinGecko can be linked to As of this writing, it was unclear what entity manages After TON The Open Network did not immediately respond to a request for comment from As competing layer-1 ecosystems, the tension between TON and ADA captures how projects value their portrayal by data aggregators, including CoinMarketCap. Amid 14,500 coins tracked by CoinGecko, for example, a top-ten spot is highly coveted.The U.S. Securities and Exchange Commission brought charges against Telegram in 2020 over the Telegram Open Network. The regulator accused the messaging app of violating securities laws by offering the network’s native token “Grams,” The Open Network today is built using technology designed by Telegram, though the project was ultimately continued by the external community of developers after Telegram abandoned it in 2020.However, Telegram has more openly embraced TON over the past several months. Last September, the messaging platform said it had adopted TON as its “official Web3 infrastructure.” That same month, the TON Foundation Over the past year, TON’s price has skyrocketed more than 240% to $6.49. And the asset’s price has been bolstered recently by the popularity of Edited by Andrew HaywardDisclaimerThe views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
