TON Blockchain’s Native Token, TONcoin, Surges 4% After Partnership Announcement with Telegram

TON Blockchain’s Native Token, TONcoin, Surges 4% After Partnership Announcement with Telegram

Crypto News – The native token of the TON blockchain, Toncoin (TON), has continued its bullish trajectory from the previous quarter, sparked by a significant partnership announcement with the messaging giant Telegram.

In the last 24 hours, Toncoin surged by an impressive 4%, outpacing gains across the broader cryptocurrency market on Thursday.

CoinGecko data indicates that Bitcoin (BTC) and Ethereum (ETH) maintained prices comparable to those of the previous day, trading at 27,641 and 1,634 respectively.

The recent surge in Toncoin’s value can be attributed to a recent investment injection from MEXC Ventures and sustained positive momentum carried over from the previous quarter.

MEXC Ventures, the investment arm of the MEXC exchange, disclosed a substantial “eight-figure” investment in Toncoin, implying a funding surpassing $10 million into the TON ecosystem.

This significant investment is set to bolster various TON-based projects, including Megaton Finance, TONPlay, Fanzee, and Sonet.

Furthermore, MEXC exchange has committed to providing marketing services and implementing a 0% trading fee for Toncoin.

Looking ahead, the MEXC group has ambitious plans, aiming to launch a TON-based collateral lending service, as outlined in their official announcement.