Toncoin (TON), the native token of The Open Network blockchain, has emerged as one of the most popular Layer 1 cryptocurrencies. Since the beginning of 2024, its price has surpassed Bitcoin by 118%, according to the latest analysis from CryptoQuant. 🚀

CryptoQuant found that some investor groups are bullish on TON, while others are more bearish. According to the data, American investors are the most bullish on the token, while European investors are the most bearish. 🌍

TON had a rough start due to regulatory hurdles from the U.S. Securities and Exchange Commission (SEC). However, it has managed to expand its ecosystem and increase participation by attracting both developers and users.

Telegram has taken a big step to integrate cryptocurrency and blockchain technology into its platform, specifically the TON blockchain. In April, Telegram enabled advertisers to pay using TON and creators to receive crypto payments using tokens. This created a new crypto-supported advertising ecosystem within Telegram.

More recently, stablecoin issuer Tether announced the launch of USDT and XAUT tokens on The Open Network. This move targeted Telegram's 900 million users.