TONCOIN SURPASSES CARDANO FOR TOP 10 SPOT AFTER HITTING ATH 

Today’s crypto market cap saw a notable 3.2% increase, with altcoins leading the surge. Toncoin reached a new all-time high of $6.50 on April 9, marking a significant 20% increase on the day, which outshined the performance of any other cryptocurrency in the top 50. This impressive gain propelled Toncoin past Cardano (ADA) into the tenth position, boasting a market capitalization of $22.4 billion. Despite a 4% increase in its value to $0.61, Cardano was ejected from the top ten, still reeling from an over 80% decrease from its peak in 2021. Additionally, since early March, Toncoin has seen a surge of more than 150%, as per data from CoinGecko.

Toncoin’s Rise and Integration with AI

The surge in Toncoin’s momentum can be attributed to recent developments, including Telegram’s decision to replace the Euro with its own TON token for transactions on the platform. This move, particularly the introduction of TON payments for advertisers and crypto rewards for content creators on Telegram, has significantly increased activity on The Open Network. Over the past month, the network’s account numbers have nearly doubled, reaching around 12 million, and the number of activated on-chain wallets has increased by 77% to almost 3 million, according to TonStat.

A pivotal factor in the recent price rally is Toncoin’s foray into artificial intelligence (AI). The Open Network and biometrics firm HumanCode AI announced a collaboration involving a $5 million incentive program in TON for participants of the company’s palm-scanning “proof-of-personhood” system. This initiative aims to distribute 1 million Toncoins among TON community members who link their wallets and participate in palm scans, addressing the high demand for proof-of-humanity verification tools. HumanCode AI’s co-founder, Dong Zhang, highlighted the privacy and ease-of-use benefits of their palm system over other proof-of-human solutions, which require specialized hardware.

Cardano and Other Crypto Market Movements

On the other hand, Cardano has experienced a period of stagnation, affected by FUD (Fear, Uncertainty, Doubt), which its founder, Charles Hoskinson, has been actively countering. ADA’s price has struggled to capture the bullish momentum seen in other cryptocurrencies, leading to its fall from the top ten rankings.

In contrast, Ethereum enjoyed a strong performance, crossing the $3,700 mark for the first time in three weeks after an 8% increase. Other altcoins such as Polkadot (DOT), Polygon (MATIC), and Near Protocol (NEAR) also reported gains of around 5% on the day, highlighting the altcoin-driven momentum in the market.

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