What is Toncoin (TON)?

Toncoin (TON) is a decentralized layer-1 (L1) blockchain developed in 2018 by Telegram, an encrypted messaging platform. After its founding, the project was abandoned, and then taken over by the TON Foundation. It was renamed to “The Open Network,” from its previous name “Telegram Open Network.”

This project focuses on serving the average consumer, and is a community-driven blockchain with a flexible architecture. One of the reasons it stands out for some is its quick validation/processing of transactions per second (TPS). In September 2021, the network processed 55,000 TPS during a contest, setting a then-world record. However, its current TPS could be in the hundreds of thousands, or more.

Such a feature can allow the project to avoid performance losses while maintaining rapid growth, and remaining simultaneously environmentally friendly. 

Toncoin (TON) price chart

When looking at Toncoin price today, it’s critical to have access to the latest market information and changes. Cryptocurrency prices fluctuate almost momentarily, making it invaluable to have access to real-time data for the purpose of making the most informed decisions. 

CEX.IO’s Spot Trading platform empowers users and crypto enthusiasts to keep track of this information, including data on 300+ markets and cryptocurrencies. For instance, if your goal is to stay up-to-date on the TON to USDT live price, our Spot Trading platform is an excellent choice.

Our comprehensive ecosystem of crypto products and services features a plethora of near-effortless choices, including the ability to open a crypto savings account, or put your wealth to work via crypto staking.* Moreover, our Spot Trading platform comes readily available with deep liquidity, advanced order tools, and more. Consequently, it can serve as your one-stop shop for all things crypto- and TON-related.

CEX.IO Staking is currently not available in the U.S. Check the list of supported jurisdictions here.

Toncoin (TON) market info

The current Toncoin market cap (as of March 26, 2024) is $17,538,596,525, with a 24-hour trading volume of $289,670,340. 

Toncoin’s all-time high of $5.69 was recorded on March 25, 2024. Conversely, this token’s all-time low of $0.5194 took place on September 20, 2021, with a circulating supply of 3,470,252,325 TON tokens.

More information on this token’s market statistics, as well as various other transactions, are available at CEX.IO. Whether you’re looking to buy and sell crypto, buy crypto with Apple Pay, or are in need of a straightforward and secure crypto wallet, CEX.IO is a comprehensive ecosystem of crypto products and services.

TON price history

Examining a price chart is one of the most effective methods of understanding not only crypto prices, but also their movements over time. When it comes to the TON historical price, you can track these changes on our award-winning Spot Trading platform. But, there’s more.

You can also buy, sell, and trade TON against USD and USDT on the platform, with all of the previously mentioned features like deep liquidity, multiple sub-accounts, and more.

What to know about TON

Toncoin (formerly known as Gram) is the native cryptocurrency of the TON network. Since 2020, the technology has been developing thanks to a non-commercial group of supporters, and an independent community of enthusiasts referring to themselves as the TON Foundation. 

The project’s original goal was to integrate TON into a user-friendly application that empowers holders to buy, send, and store funds. Clients use TON to validate transactions, settle payments, and pay transaction fees. 

Toncoin uses the proof of stake (PoS) consensus mechanism to ensure network reliability and scalability. According to the website of the project, the platform “provides its users with secure, transparent, and fast payment services, facilitating transactions with minimal third-party applications and fees.” 

Also, the developers’ mission is “to build a full-fledged ecosystem with decentralized storage, decentralized services, a domain name system (DNS), an anonymous network, an instant payment platform, and fast/affordable transaction processing. 

Toncoin (TON) token facts

As of March 26, 2024, Toncoin’s circulating supply is 3,470,252,325 TON tokens, with a total supply of 5,104,663,452 TON. 

This token was designed to fuel the ecosystem, and can be used for a variety of purposes within the network. Use cases include Toncoin serving as a staking payment to secure the blockchain and services, a cross-chain transaction fee, a transaction processing fee, as well as building decentralized applications (dApps). 

Alternative use cases also include payment for decentralized data storage, TON DNS/TON Proxy, and other fees within decentralized services. TON is also used to pay validator fees, with the addition of this token granting holders the ability to vote for changes and development within TON’s governance structure.

Community and social media links

If you’re curious to learn more about this crypto project, and stay up-to-date on the most relevant Toncoin (TON) information in real-time, please feel free to observe the project’s social media presence and online community at the following links:

• Toncoin official website
• Official Telegram communities
• X (formerly Twitter) profile
• Facebook 
• LinkedIn