Toncoin's Surge: Approaching Dogecoin's Market Cap Amid Rumors of Telegram's IPO

Toncoin (TON), an open-source blockchain project originally associated with Telegram, has seen a remarkable surge in value over the past week, approaching Dogecoin's market capitalization. With a notable 42.3% increase in value, Toncoin's market cap has soared to $25 billion, trailing Dogecoin by just $2 billion. Originally initiated by Telegram and later handed over to the open-source community, Toncoin has garnered attention in the crypto sphere amid rumours of Telegram's potential public offering. Speculation surrounding a direct initial public offering (IPO) for Telegram has been circulating, fueled further by CEO Pavel Durov's statements expressing interest in such a move. Toncoin's rising popularity is also attributed to the Notcoin game, which incentivizes engagement with the TON ecosystem through various activities, including wallet installations and NFT purchases. As a result of its recent surge, Toncoin has surpassed Cardano (ADA) in market capitalization, securing its position as the 9th largest cryptocurrency by market cap.