Toncoin (TON) is the native network cryptocurrency of the TON decentralized ecosystem. It was initially developed as Gram tokens associated with Telegram but later rebranded as The Open Network (TON) to gain independence from Telegram.
Toncoin operates on its layer-1 independent blockchain, offering fast payment settlement, easy-to-use decentralized applications, small fees, and other advantages. It is used within the TON network for staking in the Proof-of-Stake (PoS) consensus mechanism to secure the blockchain.
Toncoin is listed on various exchanges like Binance, Bybit, Kucoin, MEXC, and LBank, with a current price around $5.86 to $5.97 per TON/USD, a market cap of approximately $20.37B to $20.71B USD, and a 24-hour trading volume ranging from $184.40M to $209.37M USD.