Toncoin price climbs 33% over the week

Toncoin (TON) traded near the $2 level but failed to clear the psychological barrier. Over the last 24 hours, the asset rose 11%, according to CoinGecko.

At the time of writing, Toncoin trades at $1.9 and ranks 12th in CoinGecko’s digital asset ranking with a market capitalization of $6.6 billion.

In August, the number of registered addresses in the project’s network превысило 3.2 million. In the same month, the official bridge between TON and Ethereum supported transfers of all ERC-20 tokens.

In July, the developers integrated message encryption into the TON network. This ensures that only the sender and recipient can see the encrypted information.

Earlier in the TON Foundation proposed to burn 50% of validator rewards. The proposal is analogous to Ethereum’s EIP-1559 strategy, which led to a reduction in network inflation.

In July, Telegram CEO Pavel Durov admitted that he holds some amount of Bitcoin and ‘a little’ Toncoin.