Toncoin Price Today

The current real-time Toncoin price is $5.55 . TON price has grew by 10.35% in the last day and decreased by 12.52% in the last seven days. It’s important to note that the current Toncoin market capitalization is $14,166,456,961. The maximum supply is coins, with a circulating supply of 2,551,711,616.70. TON is ranked #13 in terms of market cap.

Let's Explain What Is Toncoin

Toncoin (TON) is an innovative cryptocurrency project building a decentralized layer one blockchain. Telegram initially created the project, but the Securities and Exchange Commission (SEC) forced the company to hand off development to the community following a lawsuit. 

Toncoin's blockchain, The Open Network (formerly Telegram Open Network), powers many popular Telegram mini apps, including Hamster Kombat. Moreover, you can send, receive, and store TON directly within the Telegram Wallet app.

How Toncoin Works: The Basics

Telegram created Toncoin, but the company was sued by the US Securities and Exchange Commission for conducting an unregistered securities sale, resulting in Telegram ceasing to work on the project. 

Toncoin (TON) is the propriety token of The Open Network (also called TON). People can use the token to pay transaction fees and Telegram advertising. Earnings from Telegram channel owners are also paid in the token. The Open Network is a blockchain on which developers can build mini-apps. 

Toncoin uses a Proof-of-Stake consensus mechanism. However, TON tokens were initially distributed to miners via a smart contract. However, the tokens pledged to miners were depleted in June 2022, leading Toncoin to add validators to its network and increase the number of tokens required to become a validator on the network. 

Despite the social media company ceasing to work on the project, Telegram has integrated Toncoin into its ecosystem. People can use TON to pay for advertising within Telegram, and channel owners also receive a share of the profits paid in TON tokens. Moreover, Toncoin facilitates Telegram mini apps like Hamster Kombat and Notcoin. 

Toncoin Price History

TON tokens were initially distributed via a crypto mining system instead of an Initial Coin Offering (ICO). As a result, the majority of the supply was made available to investors. Throughout August and September 2021, TON hovered around $0.50 to $0.75. Learn more about how staking compares to mining.

By November 2021, Toncoin had achieved some substantial milestones from its roadmap, investor sentiment swung heavily positive, and the project began to receive media attention. These factors led TON to surge to a then-all-time high of $4.50. In the month following, TON was highly volatile, falling to $1.8556 before rebounding to $4.34.

TON had a mixed 2022, with the asset falling to $0.8181 by July but building itself back up to around $2.25 by December. Throughout 2023, the asset stagnated, trading around $2.25 for the majority of the year, save a few months where it dropped to approximately $1.35

While early 2024 was not particularly exciting for TON, the asset catapulted in price from late February onwards as demand for Telegram mini apps surged and media attention fell on Toncoin. The asset achieved an all-time high of $7.9442 in June and currently trades for $6.88, marking a return of roughly 197% for investors who purchased at the start of the year. 

Toncoin Circulating Supply

Toncoin has a circulating supply of 2,514,931,374 TON and a total supply of 5,109,422,255 tokens. There is no maximum supply, and new tokens will continually be added to the amount of tokens in existence. It's worth noting that Telegram holds 10% of the TON supply, while The Open Network Foundation and the TON Believers Fund also hold a significant portion of the supply. 

Toncoin is an inflationary cryptocurrency with no fixed maximum supply. However, the team behind the project has introduced a mechanism to restrict the newly minted supply of TON based on how much of the supply is used for crypto staking by validators.

The team expects inflation to be consistent at around 2% annually. However, 50% of TON transaction fees get burned, reducing the amount of TON that is circulating. This approach will ensure validators are fairly paid without over-devaluing the supply. 

Where To Buy Toncoin

Toncoin is a relatively new cryptocurrency that has been on the market for around three years. It wasn't until this year that the asset gained widespread popularity. As a result, TON is unsupported by some exchanges like Binance. However, you can purchase TON on platforms including Bybit, OKX, and MEXC.