TON Token Ecosystem Soars to $20 Billion, Driven by Gaming and Meme Tokens
In the last month, the value of toncoin (TON) has surged by 18.4% against the U.S. dollar, hitting a record high last week. Data shows that the total worth of the top ten TON chain coins, which includes TON, now exceeds $20 billion.
The Open Network (TON) has become a major player in the blockchain industry, drawing attention to its native token, toncoin (formerly known as GRAM), as well as its gaming ecosystem and the various tokens issued on the platform. The market valuation of toncoin alone stands at around $18.71 billion.
Furthermore, nine other cryptocurrencies issued on the TON network have individual market valuations of over $19 million each. Notably, notcoin (NOT) is valued at $1.5 billion and resistance dog (REDO) at $93.06 million. NOT is a tap-to-earn game token, while REDO is a meme token inspired by a symbol created by Pavel Durov, the founder of Telegram.
Jetton games (JETTON) token follows with a market valuation of $47.1 million, linked to a cross-platform gaming solution where tokens can be earned, traded, and used for in-game purchases. Similarly, shrapnel (SHRAP) is associated with a blockchain-powered first-person shooter game, with a market valuation of $34.61 million. Punkcity (PUNK), designed for use within the Punkcity decentralized gaming ecosystem, has a market cap of $33.03 million.
Other tokens in the top ten include ston (STON) with $31.86 million, hypergpt (HGPT) with $23.52 million, and gamee (GMEE) at $21.47 million. The ton fish memecoin (FISH) completes the top ten with a market cap of $19.24 million. Together, these ten tokens have a combined value of $20.51 billion.
The next five tokens issued on TON have market caps ranging from $1 million to $5.67 million, while four other tokens, including BURN, TOGE, PET, and SHIP, have valuations in the six-digit range. Additionally, the TON chain circulates $489 million in tether (USDT), making it the sixth-largest network under Omni to hold the most USDT.
While the recent surge in toncoin’s value and the increasing worth of its related tokens reflect a specific phase, the inherent volatility of short-term hype requires cautious optimism. Market dynamics and public sentiment can quickly shift, potentially altering the overall trend. Nevertheless, The Open Network’s impact on the blockchain sector remains evident.
What are your thoughts on the TON token ecosystem’s growth to nearly $20 billion? Share your opinions in the comments section below.
