Toncoin (TON) Price History

Toncoin's price history began with an initial distribution of tokens through an open mining process that started in June 2020 and ran until June 2022.

Toncoin, the native cryptocurrency of the Telegram blockchain, was first introduced in 2020 through an open mining process. Initially, the blockchain employed the energy-intensive Proof-of-Work (PoW) consensus mechanism to bootstrap the network's adoption. However, the blockchain has since transitioned to the Proof-of-Stake (PoS) system, which is known for its energy efficiency and enables investors to stake their tokens to earn passive income and secure the network.

Toncoin tokens were mined by many developers, investors and early adopters using computer hardware during this time. Like most other cryptocurrencies, trading for Toncoin began before all of the available tokens were mined. According to CoinMarketCap data, Toncoin traded at around $0.50 in August 2021. However, the token’s price quickly gained momentum, jumping to as high as $4.50 by November 2021—an 800% gain in just a few months.

The price of Toncoin suffered during the crypto market downturn of 2022, with the collapse of FTX and Terra Luna being two catastrophes that the industry experienced within a period of just six months, dramatically impacting the prices of digital assets. Toncoin's price fell as low as $0.82 by July 2022.

However, Toncoin's price began to recover in the latter half of 2022 and into 2023 as the project acquired more users and constructed its network infrastructure. During 2023, the coin saw steady growth before exploding to new all-time highs in early 2024. As of November 14th, 2024, Toncoin was trading around $5.54 with a total market capitalisation of $US27.7 billion.

The above is the detailed content of Toncoin (TON) Price History. For more information, please follow other related articles on the PHP Chinese website!