Layer-1 Crypto Rallies 11%, Leaving Bitcoin, Ethereum In The Dust

Toncoin (CRYPTO:TON) is rallying over 11% in the past 24 hours, outshining apex crypto Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

What Happened: At the time of writing, TON was trading at $2.42. BTC at $17,777, up 3.49% and ETH at $1,318, up 4.67% in the past 24 hours.

$TON Weekly Digest

✅ @telegram launched the sale of anonymous numbers based on TON.
✅ @DefiLlama started tracking TON.
✅ @Cryptomuscom added support for TON.
✅ The X-mas NFT Contest is over.

Read this week’s full roundup here: https://t.co/y0A8cJIWLP pic.twitter.com/7SHP9zXj4n

— TON (@ton_blockchain) December 12, 2022

The rally can be attributed to Telegram’s decision to launch the sale of anonymous numbers based on The Open Network (TON). DeFiLlama, the largest TVL aggregator for DeFi, has also started tracking TON. 

The Tegro team completed testing the Libermall NFT Marketplace on the TON testnet and intends to launch the platform in the mainnet by the end of the year, driving positive sentiments in the market.

See More: Best Crypto Day Trading Strategies

TON is currently trading above both its 50-day and 200-day Simple Moving Averages (SMAs). This demonstrates that the asset’s short-term and long-term price movements are mostly positive, indicating a bullish trend in TON’s price over the course of its trading history.

Toncoin has implemented a proof-of-stake system which expedites its adoption. This approach rewards investors for staking their tokens, allowing them to benefit without having to go through the laborious process of mining.

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