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TON Jumps 10% to Become 10th Largest Crypto as Altcoins Rally

Bitcoin TON

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Jai Pratap

Author

Jai Pratap

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Jai serves as the Asia Desk Editor for Cryptonews.com, where he leads a diverse team of international reporters. Jai has over five years of experience covering the web3 industry.

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Last updated:

June 5, 2024

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The cryptocurrency market is abuzz with activity as altcoins experience a significant upswing. Telegram Open Network (TON) has witnessed a remarkable rise recently.

TON’s price jumped over 10% in the last 24 hours, propelling the cryptocurrency into top 10 cryptocurrencies by market capitalization. This impressive feat comes on the heels of a strong week for TON, with its value increasing by 15% over the past seven days. TON currently boasts a market capitalization of nearly $18 billion, as per Coingecko data.

Altcoins Rally as Bitcoin Nears All-Time High

BNB, the native token of the Binance chain, also experienced a significant surge, rising over 11% in the past 24 hours to reach a price of $690. This impressive rally has propelled BNB’s market capitalization back above the coveted $100 billion mark, a level it hadn’t seen since early December 2021.

Trading at $173, Solana (SOL) is up over 5% in the last 24 hrs. Avalanche (AVAX), Bitcoin Cash (BCH), and Uniswap (UNI) are up 4.3%. 4.8% and 18.5% in the last 24 hrs, respectively.

While altcoins are stealing the show, the leading cryptocurrency Bitcoin hasn’t been left behind. Bitcoin has also seen a steady rise, inching closer to its all-time high by reaching $71,000. This collective surge in the market suggests a potential resurgence of the “altcoin season,” a period where altcoins outperform Bitcoin.

On the other hand, second largest crypto Ethereum is stable at $3,785, with 2% down in the last seven days. At the time of writing, Bitcoin is trading just above $71,000, over 3% up in the last 24-hrs.