• Toncoin (TON) sees a significant boost, momentarily outdoing Dogecoin after Telegram’s digital wallet launch.
• Major DeFi tokens like MKR and AAVE record appreciable gains, highlighting the ongoing evolution in the decentralized finance space.

While Bitcoin has shown a mild increase of nearly 1% in the past day, the real heroes of today’s crypto market seem to be a slew of altcoins. Based on recent updates from Coinalyze, it’s evident that digital assets like Toncoin (TON), Aave (AAVE), and Maker (MKR) are setting the pace for gains in the sector.

The DeFi giant, MKR, has seen a jump of over 3% and is now trading at $1,455, as per CoinGecko data. A plausible reason for this uptrend is the project’s “Endgame Plan.” Launched with the aim to maximize revenue for the protocol through yields from real-world assets, this strategy faced skepticism at its outset. However, it has since proven its mettle by fostering notable returns for the project.

AAVE and Toncoin’s Notable Performance

Not far behind, AAVE, ranking 45th in terms of market capitalization, recorded a growth of over 6% in the past week, currently priced at $68.82. Meanwhile, TON, the native token of The Open Network, has also made headlines with a 6.5% increase in value in the past 24 hours. It’s now valued at $2.07.

The spike in Toncoin’s valuation isn’t just a one-off event. This token recently earned a spot among the top 10 cryptocurrencies, even temporarily surpassing Dogecoin. This surge in interest is attributed to last week’s announcement of a self-custodial digital wallet’s launch on the widely-used messaging platform, Telegram. With this momentum, TON has accumulated an impressive growth of over 31% in the past week alone.

Bitcoin’s Recent Highs

Despite the spotlight on altcoins, Bitcoin, the foremost digital asset in terms of market capitalization, shouldn’t be overlooked. It’s trading at $27,441 and recently reached a two-month peak, possibly driven by a sequence of short liquidations in the futures market. In contrast, other prominent cryptos, including Ethereum, Ripple, and Polygon, have witnessed a dip in the last day.

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