Toncoin (TON), the native cryptocurrency of The Open Network, is now the 10th biggest digital asset by market cap—and on Tuesday, it briefly overtook Dogecoin as the ninth largest cryptocurrency by that metric.

Riding on the back of news last week that a self-custodial digital wallet had launched on popular messaging app Telegram, TON is now up more than 31% in the past seven days, making it the best-performing asset in the top 100 cryptocurrencies during that span.

TON is right now trading hands for $2.45, according to CoinGecko. TON, which runs on the proof-of-stake blockchain, was launched by messaging app Telegram back in 2018.

But following an SEC lawsuit, Telegram abandoned the project. It has since been taken over by the TON Foundation and allows users to send commission-free crypto transfers to other Telegram users.

The Open Network has a host of other features, including TON Storage, TON Proxy (a decentralized VPN serv

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Author: Mathew Di Salvo

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