Bitcoin Officially Halving, What Are Analyst Predictions Regarding Crypto Prices?

Previously, Telegram's crypto, TON Coin, managed to become the 9th largest crypto in the world, following the Cardano token (ADA Coin), which is now in 10th position. So what is the cause of the increase in TON Coin's crypto position?

Reporting from Cointelegraph, Thursday (11/4/2024), this followed a daily price increase of 13%, TON rose to USD 6.65 or the equivalent of IDR 105,391 (assuming an exchange rate of IDR 15,853 per US dollar) on Wednesday, April 10 2024.

TON Market Capitalization This price increase pushed TON Coin's market capitalization to USD 23 billion or the equivalent of IDR 364.5 trillion, surpassing ADA's market capitalization of USD 22 billion or the equivalent of IDR 348.6 trillion, according to CoinMarketCap data.

The rally comes a day after developer TON Society set aside USD 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 identity proof program.

ADA Coin

The increasing interest in TON also helped it outperform ADA. TON price has surged more than 135% over the past month, while ADA price is down 15%.

In contrast to Toncoin, ADA saw little interest this year, as investor attention focused on the Bitcoin Spot ETF in the United States and other major blockchain upgrades, such as Ethereum's Dencun upgrade.

Disclaimer: Every investment decision is in the hands of the reader. Study and analyze before buying and selling Crypto. Liputan6.com is not responsible for profits and losses arising from investment decisions.