• Dogecoin dethroned briefly as Toncoin knocked it out to become the ninth most valuable digital asset by market cap. 
• The asset has now claimed the 10th position, after snagging more than 31% in weekly gains attained over the past seven days. 

Toncoin, a promising cryptocurrency, has outperformed its competitors as it hits a new milestone. As market data shows, Toncoin has made the list as one of the top ten most valued digital assets by market capitalization.

The asset saw its market cap increase significantly on Tuesday, which led to its takeover. Notably, altcoin unseated another prominent rival bitcoin and memecoin Dogecoin. While Dogecoin held the spot as the ninth most valued cryptocurrency by market cap, Toncoin dethroned the asset and claimed the position for a brief period.

The new development comes not long after it was announced that a self-custodial digital wallet had been launched on the Telegram message platform. Interest in the Toncoin surged not long after, and the market cap skyrocketed significantly.

From here onwards, adoption for Toncoin might continue to increase at a meteoric level, as the asset gains popularity over time.

The newly attained milestone has been reflected in the price value of TON, as it has seen gains increase by more than 31% in the last week. As a result, TON has beaten more than 100 assets to become the best-performing cryptocurrency in the market at this time.

TON Foundation lays out its long-term goals

Meanwhile, Ton has announced that the Ton Foundation will be working with Telegram and Wallet In Telegram, which is now available to 800 million users.

The Ton Foundation will be working exclusively with Telegram, to integrate and promote the TON Web3 ecosystem. As a result, the TON ecosystem will gain exclusive access to the Telegram global ads platform.

The Tron Foundation also hopes to increase its active Web3 users by more than 33 times its current value. The goal is to onboard as much as 30% of active telegram users to TON by 2028, which is an estimated 500 million people.

“Telegram is working with TF to put digital ownership in their user’s hands! TON is perfect for Web3 projects looking to build on existing user experience rails and scale to billions of users. “TON ecosystem is designed to make crypto feel like social media.” The announcement read.

Users of the Wallet In Telegram app can now access the TON space wallet using the Telegram menu. In addition to this, the wallet is looking to make this gesture available to Telegram users outside the United States come November.

“Integrating TON Space self-custody wallet into Telegram makes crypto simple and enriches the Telegram Web3 App ecosystem. For builders, it gives their users seamless onboarding and enables dApp authorization and transaction signing, without ever leaving Telegram.” The announcement added.