Toncoin Price History:
An Ultimate Guide on TON Price Changes
Time to read: 12 min
The future of Toncoin (TON) appears promising as its ecosystem of Web3 applications expands and its integration with Telegram deepens. Originating as a wallet, TON has evolved into a payment method, with an ambitious roadmap that includes stablecoin tools and bridges to other blockchain networks. The project's token quickly ascended the cryptocurrency rankings, but its journey was not without challenges. This article explores Toncoin's price history, unique features, and future plans.
Toncoin (TON) Overview
TON Price $7.11 Price Change 24h -1.85% Price Change 7d -6.20% Market Cap $17,458,930,121 Circulating Supply 2,458,340,795 TON Total Supply 5,108,096,400 TON Trading Volume 24h $415,289,550 All-Time High (ATH) $7.78 (June 15, 2024) All-Time Low (ATL) $0.3906 (Sep 21, 2021)
Data is current as of mid-June 2024.
Technical Features of Toncoin (TON)
Toncoin is a third-generation blockchain designed to support a new wave of decentralized financial services and applications. Originally based on the technology from Pavel Durov's unreleased GRAM project, it is now deeply integrated into the Telegram messenger. The core components of its ecosystem provide a comprehensive infrastructure for Web3 development.
TON Blockchain
The TON Blockchain is a flexible and highly scalable platform featuring advanced smart contracts and instant micropayments. It uses innovative routing mechanisms, like instant hypercube routing, to ensure fast, secure, and stable network performance.
TON P2P Network
This peer-to-peer network is the foundation for accessing the blockchain, proposing transactions, and receiving updates. It efficiently distributes only relevant information to clients and supports a variety of distributed services.
TON Payments
TON Payments is a solution for instant off-chain transactions with zero fees. It is particularly useful for high-frequency micropayments where the main blockchain's confirmation time of approximately 5 seconds would be too slow.
TON Storage
Functioning like a decentralized Dropbox, TON Storage allows data to be stored across a peer-to-peer network of user devices. Users who provide storage space help maintain the network and earn TON as a reward.
TON Proxy
TON Proxy is a tool that enhances user privacy by concealing real IP addresses when accessing resources on the platform. It operates on peer-to-peer principles similar to the Tor network.
TON DHT
The Distributed Hash Table (DHT) acts as a decentralized index for the ecosystem. It is essential for locating and storing values across the network, playing a crucial role in services like TON Storage and TON Proxy.
TON Services
This platform provides developers with tools to create and deploy decentralized applications (dApps) and smart contracts with user-friendly interfaces, similar to how websites are accessed through a web browser.
TON DNS
TON DNS simplifies the user experience by assigning human-readable names to accounts, smart contracts, dApps, and network nodes, replacing long, complex addresses, much like the traditional internet DNS.
Toncoin (TON) Use Cases
Built on Telegram's vision for a decentralized internet, Toncoin offers high transaction speeds and scalability. Its key performance characteristics enable a wide range of applications:
- High Throughput: The network demonstrated a capacity of 104,715 transactions per second during a public test.
- Low Fees: Transaction costs are minimal, typically less than $0.01.
- Fast Finality: Transactions are confirmed on-chain in under 6 seconds.
- Scalability: The architecture is designed for reliable performance as user adoption grows.
Today, Toncoin is used for transaction fees, staking, gaming, and digital collectibles. It is also increasingly used for crypto payments and as the foundation for dApps requiring high speed and capacity.
Toncoin Price Chart
Toncoin (TON) Price History
Over the past year, the price of TON has more than quadrupled. With a circulating supply of over 2.45 billion tokens, its market capitalization has exceeded $17 billion, placing it among the top 10 cryptocurrencies globally. A look at its price history reveals a journey of regulatory hurdles, community revival, and technological growth.
2018: The Genesis of GRAM
Pavel Durov, the founder of Telegram, and his brother Nikolai initiated the development of the Telegram Open Network (TON). They aimed to create a blockchain platform for decentralized apps to solve Telegram's monetization challenges. The native cryptocurrency, GRAM, was designed to pay for services, support content creators, and manage subscriptions. The project generated immense interest, raising $1.7 billion from investors through a successful ICO.
2019: Regulatory Challenges
In 2019, the U.S. Securities and Exchange Commission (SEC) intervened, classifying GRAM tokens as securities. This required the project to comply with U.S. securities laws, leading the SEC to obtain a court order that banned the network's launch and postponed its start date.
2020: Project Termination and Open-Sourcing
After a prolonged legal battle with the U.S. regulator, the Durov brothers officially shut down the project in May 2020. Telegram returned $1.2 billion to investors and released the project's code into the public domain. Subsequently, a community of independent developers took over the technology to continue its development.
2021: Community Revival and Growth
The project, rebranded as The Open Network with the Toncoin token, saw significant development under the leadership of this new community. Key milestones included the creation of a stable blockchain, the launch of bridges to the Ethereum and BSC networks, and listings on several major cryptocurrency exchanges. The network also showcased its technical capabilities in a performance test.
2022: Ecosystem Expansion
Throughout 2022, the ecosystem expanded with the launch of essential infrastructure. This included a developer program, the TON Payments platform for crypto transactions, TON DNS for readable addresses, TON Sites for decentralized website hosting, and the initial releases of TON Proxy and TON Storage.
2023: Telegram Integration and Deflation
A pivotal year for the project, 2023 saw the integration of the TON Wallet directly into Telegram, making the cryptocurrency accessible to the messenger's vast user base. TON Space, a self-custodial wallet, was also launched within Telegram. Additionally, a deflationary mechanism was introduced to help sustain Toncoin's value over time.
2024: New Milestones and Roadmap
In 2024, Toncoin reached a new all-time high as its market capitalization continued to grow. The roadmap for the year includes further enhancements like the Stablecoin Toolkit, the release of Wallet 5.0, new cross-chain bridges, and the launch of TON Teleport for seamless cross-chain communication.
Conclusion
Toncoin stands out as a project with a unique history and significant potential. After overcoming early regulatory obstacles, it has thrived as a community-driven initiative. The developers are focused on merging blockchain technology with the conventional internet through a user-friendly interface, deeply integrated with Telegram's massive user base. With a consistent rollout of new tools and a growing community, Toncoin is well-positioned to continue its trajectory as a major player in the Web3 space.
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The future of Toncoin (TON) appears promising as its ecosystem of Web3 applications expands and its integration with Telegram deepens. Originating as a wallet, TON has evolved into a payment method, with an ambitious roadmap that includes stablecoin tools and bridges to other blockchain networks. The project's token quickly ascended the cryptocurrency rankings, but its journey was not without challenges. This article explores Toncoin's price history, unique features, and future plans.
Toncoin (TON) Overview
| TON Price | $7.11 |
| Price Change 24h | -1.85% |
| Price Change 7d | -6.20% |
| Market Cap | $17,458,930,121 |
| Circulating Supply | 2,458,340,795 TON |
| Total Supply | 5,108,096,400 TON |
| Trading Volume 24h | $415,289,550 |
| All-Time High (ATH) | $7.78 (June 15, 2024) |
| All-Time Low (ATL) | $0.3906 (Sep 21, 2021) |
Data is current as of mid-June 2024.
Technical Features of Toncoin (TON)
Toncoin is a third-generation blockchain designed to support a new wave of decentralized financial services and applications. Originally based on the technology from Pavel Durov's unreleased GRAM project, it is now deeply integrated into the Telegram messenger. The core components of its ecosystem provide a comprehensive infrastructure for Web3 development.
TON Blockchain
The TON Blockchain is a flexible and highly scalable platform featuring advanced smart contracts and instant micropayments. It uses innovative routing mechanisms, like instant hypercube routing, to ensure fast, secure, and stable network performance.
TON P2P Network
This peer-to-peer network is the foundation for accessing the blockchain, proposing transactions, and receiving updates. It efficiently distributes only relevant information to clients and supports a variety of distributed services.
TON Payments
TON Payments is a solution for instant off-chain transactions with zero fees. It is particularly useful for high-frequency micropayments where the main blockchain's confirmation time of approximately 5 seconds would be too slow.
TON Storage
Functioning like a decentralized Dropbox, TON Storage allows data to be stored across a peer-to-peer network of user devices. Users who provide storage space help maintain the network and earn TON as a reward.
TON Proxy
TON Proxy is a tool that enhances user privacy by concealing real IP addresses when accessing resources on the platform. It operates on peer-to-peer principles similar to the Tor network.
TON DHT
The Distributed Hash Table (DHT) acts as a decentralized index for the ecosystem. It is essential for locating and storing values across the network, playing a crucial role in services like TON Storage and TON Proxy.
TON Services
This platform provides developers with tools to create and deploy decentralized applications (dApps) and smart contracts with user-friendly interfaces, similar to how websites are accessed through a web browser.
TON DNS
TON DNS simplifies the user experience by assigning human-readable names to accounts, smart contracts, dApps, and network nodes, replacing long, complex addresses, much like the traditional internet DNS.
Toncoin (TON) Use Cases
Built on Telegram's vision for a decentralized internet, Toncoin offers high transaction speeds and scalability. Its key performance characteristics enable a wide range of applications:
- High Throughput: The network demonstrated a capacity of 104,715 transactions per second during a public test.
- Low Fees: Transaction costs are minimal, typically less than $0.01.
- Fast Finality: Transactions are confirmed on-chain in under 6 seconds.
- Scalability: The architecture is designed for reliable performance as user adoption grows.
Today, Toncoin is used for transaction fees, staking, gaming, and digital collectibles. It is also increasingly used for crypto payments and as the foundation for dApps requiring high speed and capacity.
Toncoin Price Chart
Toncoin (TON) Price History
Over the past year, the price of TON has more than quadrupled. With a circulating supply of over 2.45 billion tokens, its market capitalization has exceeded $17 billion, placing it among the top 10 cryptocurrencies globally. A look at its price history reveals a journey of regulatory hurdles, community revival, and technological growth.
2018: The Genesis of GRAM
Pavel Durov, the founder of Telegram, and his brother Nikolai initiated the development of the Telegram Open Network (TON). They aimed to create a blockchain platform for decentralized apps to solve Telegram's monetization challenges. The native cryptocurrency, GRAM, was designed to pay for services, support content creators, and manage subscriptions. The project generated immense interest, raising $1.7 billion from investors through a successful ICO.
2019: Regulatory Challenges
In 2019, the U.S. Securities and Exchange Commission (SEC) intervened, classifying GRAM tokens as securities. This required the project to comply with U.S. securities laws, leading the SEC to obtain a court order that banned the network's launch and postponed its start date.
2020: Project Termination and Open-Sourcing
After a prolonged legal battle with the U.S. regulator, the Durov brothers officially shut down the project in May 2020. Telegram returned $1.2 billion to investors and released the project's code into the public domain. Subsequently, a community of independent developers took over the technology to continue its development.
2021: Community Revival and Growth
The project, rebranded as The Open Network with the Toncoin token, saw significant development under the leadership of this new community. Key milestones included the creation of a stable blockchain, the launch of bridges to the Ethereum and BSC networks, and listings on several major cryptocurrency exchanges. The network also showcased its technical capabilities in a performance test.
2022: Ecosystem Expansion
Throughout 2022, the ecosystem expanded with the launch of essential infrastructure. This included a developer program, the TON Payments platform for crypto transactions, TON DNS for readable addresses, TON Sites for decentralized website hosting, and the initial releases of TON Proxy and TON Storage.
2023: Telegram Integration and Deflation
A pivotal year for the project, 2023 saw the integration of the TON Wallet directly into Telegram, making the cryptocurrency accessible to the messenger's vast user base. TON Space, a self-custodial wallet, was also launched within Telegram. Additionally, a deflationary mechanism was introduced to help sustain Toncoin's value over time.
2024: New Milestones and Roadmap
In 2024, Toncoin reached a new all-time high as its market capitalization continued to grow. The roadmap for the year includes further enhancements like the Stablecoin Toolkit, the release of Wallet 5.0, new cross-chain bridges, and the launch of TON Teleport for seamless cross-chain communication.
Conclusion
Toncoin stands out as a project with a unique history and significant potential. After overcoming early regulatory obstacles, it has thrived as a community-driven initiative. The developers are focused on merging blockchain technology with the conventional internet through a user-friendly interface, deeply integrated with Telegram's massive user base. With a consistent rollout of new tools and a growing community, Toncoin is well-positioned to continue its trajectory as a major player in the Web3 space.
FAQ
Similar guides
What Is Toncoin (TON): A Step-by-Step Guide on TON
Darina Perepelitza
Toncoin Price Prediction: TON Price Forecast
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How to Buy Cryptocurrency for Beginners: An Ultimate Guide
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