Toncoin Overtakes Dogecoin Amidst Surge
Introduction
Toncoin's recent surge has propelled it past Dogecoin in market capitalization. Previously ranked 9th, Toncoin's value increase led to a market cap of $19,750,250,837. This shift coincides with heightened interest in BTC to INR conversions, indicating broader crypto market activity
This rise is attributed to the decline in Bitcoin's dominance, new trading approval in Kazakhstan, a significant ongoing investment round, and increased activity on evrey global crypto exchange and crypto exchange India.
Ton Price Surge Led To Overtaking Dogecoin In Market
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Toncoin was previously ranked 9th on Coinmarketcap by market capitalization.
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Dogecoin held the 8th position for a long time, establishing its dominance among meme coins and the overall market.
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However, with Dogecoin's price struggling at $0.1238, its market capitalization is limited to $17,942,271,166.
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With the rise in Toncoin's price, its market capitalization has surged to $19,750,250,837, overtaking Dogecoin's market position.
Why Toncoin price Is Rising?
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Not only Toncoin, but many altcoins have also been struggling previously.
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However, with Bitcoin's dominance declining from a high of 54.4% to the current 53.4%, these altcoins have experienced a significant surge in the market.
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More importantly, Kazakhstan exchanges began trading Toncoin after receiving approval from the Astana Financial Services Authority (AFSA).
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The ongoing TON investment round has invited investors, requiring a minimum stake of $250,000 per participant.
Conclusion
Toncoin's ascent past Dogecoin highlights its recent market dominance, fueled by favorable conditions and increased accessibility on Kazakhstan exchanges and every crypto exchange app, amidst declining Bitcoin dominance.
This trend reflects a dynamic cryptocurrency market responding to global financial shifts.
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