The TON chain became popular since the co-founder of Telegram app Pavel Durov and his brother created it and launched an ICO where they raised several billion US dollars. Even thought the brothers were driven to back off from their idea and decided not to launch the coin, giving the money back to investors, it was taken over by the community who were keen to release the TON coin after all.
Now that the TON blockchain has been running for several years, it became home and a launchpad for many coins, similarly to Ethereum. Below, we will talk about five TON-powered cryptocurrencies with the largest market caps.
TonCoin (TON)
TonCoin is the native cryptocurrency of The Open Network (TON). When the blockchain and the coin were being created, the idea was to make a high-speed and efficient ledger which would avoid Ethereum congestion issues and handle millions of transactions per second (TPS). After Telegram withdrew from the project due to the pressure put on the team by the American Security and Exchange Commission (SEC), a dedicated open-source community got on with working on it.
TonCoin, with a market capitalization of $16,885,284,893 powers dapps on the TON network. Users leverage it for paying gas fees, staking, and taking part in making governance decisions. There are a lot of DeFi platforms built and running on the TON chain, including gaming ecosystems and NFT marketplaces. TON is trading at $6.71 and it is the ninth largest coin in terms of market cap.
Notcoin (NOT)
Notcoin was built in the TON ecosystem. It is a native cryptocurrency of the Telegram-based game. It is a tap-to-earn project where players get rewards in these coins by simply tapping on the screens of their smartphones. This game boasts approximately 35 million users in total and it has 6 million daily active players. In April, gamers were able to exchange their gaming Notcoins into actual tradeable NOT coins at a 1,000:1 rate.
At the end of May, NOT was integrated into the Wallet on Telegram, and thus it was exposed to hundreds of millions of Telegram users, which gave TON user base a major boost. The coin’s market capitalization sits at $1,202,926,808. It is changing hands at $0.0119 at this very moment. It is the 69th largest cryptocurrency on the CoinMarketCap list.
Gomining Token (GOMINING)
GOMINING token was created to provide some innovation in cryptocurrency mining. This token helps to make the mining process more democratic by letting users participate in it without leveraging costly hardware or big technical skills. GOMINING is a project that intends to make mining accessible to all sorts of users and given them a chance to earn rewards in crypto in return for their supporting the network’s activity and on-chain operations.
GOMINING coins can buy their users mining power directly from the GOMINING platform, thus providing them with an opportunity to share mining activities with other users and get rewards for that. This method enables users to take up cryptocurrency mining without facing large mining gear expenses and maintenance costs. Besides, the bright side here is that GOMINING tokens are tradable on crypto exchanges, so they allow investors to profit on their market movements.
This approach of removing barriers for joining the circle of miners has helped GOMINING to attract a diverse group of users who are eager to take part in the crypto economy. The GOMINING team provides the community with regular updates, has transparent communication with them, making them feel inspired and necessary for the ecosystem. GOMINING’s market cap constitutes $125,286,748, it is trading at $0.2984.
Resistance Dog (REDO)
Resistance Dog (REDO) is a meme cryptocurrency that has become quite popular on the TON blockchain as of late. It started as a joke on the crypto space, however, it quickly overgrew that status and evolved into a project that demonstrates real potential and is actively supported by its community. Initially inspired by such mega popular cryptocurrency as Dogecoin, REDO intends to offer a mix of entertainment and utility and create a unique offering for all crypto lovers on the TON network.
As was the case with many meme coins, REDO started gaining popularity as a fun cryptocurrency, gradually hinting that it has a lot more to give the community. By now, this popular meme coin has evolved and it now has quite a lot of utility cases, such as tipping, donations, and crowdfunding. The developer team of REDO is signing partnerships with multiple platforms in the gaming space, aiming to be integrated as an in-game currency. This will allow it to massively expand its utility and make it much more popular within the crypto and gaming communities.
The Resistance Dog meme coin boasts a market cap of $49,810,028 and is changing hands at $0.4951.
Shrapnel (SHRAP) coin
Shrapnel was designed as a DeFi token that runs on the TON chain and to offer a wide range of financial products and services. It was created by a seasoned team of developers who were inspired by the DeFi potential they saw in the TON network. Shrapnel intends to provide users with state-of-the-art financial instruments and allow them to undertake lending, borrowing crypto, as well as trading various cryptocurrencies in an easy and secure manner.
SHRAP provides users with access to various DeFi platforms, which include decentralized exchanges, and platforms that allow yield farming. Besides, SHRAP is utilized for governance purposes. With its help, token owners have a say in shaping the future of the Shrapnel platform by voting on various developments, upgrades and proposals. SHRAP’s market cap comprises $33,170,895. The coin is trading at $0.05004.
Overall, these five coins and many others that were launched on the TON chain are something much more than a way of optimizing their crypto investments. They underscore the variety and great potential of the TON ecosystem and show how decentralized technologies can actually transform the modern world.
