Blockchain
Telegram-linked Toncoin flips Cardano to become 9th-largest cryptocurrency
After pushing out Cardano’s ADA, TON became the ninth-largest cryptocurrency by market cap. Can it maintain momentum to surpass Dogecoin next?
Toncoin (TON) flipped Cardano’s ADA token to become the ninth-largest cryptocurrency by market capitalization on April 9. Can Toncoin continue its parabolic rise?
TON becomes the ninth-largest cryptocurrency
Following a 13% daily price increase, TON rose to $6.65 as of 1:45 pm UTC to reach a $23 billion market capitalization, overtaking the ADA’s $22 billion market cap, according to CoinMarketCap data.
The rally comes a day after TON Society developers set aside $5 million in Toncoin to incentivize users to verify their identity using palm-scanning technology. The project aims to enable digital identity verification for Telegram users over the next five years and will distribute 1 million TON to users participating in the proof-of-personhood program.
The increased interest in TON helped it outperform ADA. TON’s price has surged over 135% during the past month, while ADA’s price has fallen 15%.
TON launched a $115 million community incentive program on March 20, with $38 million for token mining and user incentives, $22 million for airdrops, $15 million for The League developer ecosystem, and $40 million for liquidity pool boosts. The program aims to drive more user adoption.
In contrast with Toncoin, ADA saw little interest this year, as investor attention was focused on the United States Bitcoin exchange-traded funds (ETFs) and other major blockchain upgrades, such as Ethereum’s Dencun upgrade.
Can TON maintain its momentum?
Toncoin’s price action has been drastically outperforming Dogecoin. TON rose 130% during the past month, while DOGE only gained 14.8%. Year-to-date, TON is up 177%, while DOGE is up 108%, according to TradingView.
While Dogecoin’s price action is purely based on speculation-driven demand, Toncoin’s utility within the Telegram messaging app can lead directly to its price appreciation with increasing user uptake.
On the downside, Toncoin’s token distribution could raise concerns among retail investors. According to CoinCarp data, over 60% of Toncoin is held by the 10 largest holders, while 93% of the supply is held by the 100 richest holders.
Source: cointelegraph.com
The post Telegram-linked Toncoin flips Cardano to become 9th-largest cryptocurrency appeared first on HIPTHER Alerts.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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