Telegram's Toncoin Surges 9%... "TON Expected to Grow the Most This Cycle"

▲ Source: Toncoin Twitter ©Coinleaders

Telegram's coin of choice, Toncoin (TON), which has more than 900 million monthly active users, has surged about 9% in the past 24 hours, the highest price gain among major coins.

As of 9:33 a.m. ET on June 13, TON was trading at $7.54, up 8.59% from 24 hours earlier, according to CoinMarketCap, a global cryptocurrency marketplace.

This is 3.51% below the all-time high of $7.78 reached on June 5.

TON's current market capitalization is about $18.3 billion, chasing the eighth-largest market capitalization, Dogecoin (DOGE), which is valued at about $21.2 billion.

Andrew Kang, co-founder of crypto investment firm Mechanism Capital, said: "TON will be the biggest growth story of this cycle. Pavel Durov has built Telegram into one of the biggest apps in the world. Mini-apps are going to explode, and that's positive for TON."

Meanwhile, Travala, a hotel and flight booking site that supports crypto payments, recently announced that it is now accepting TON payments via X. The company said it's adding support for TON payments. Currently, Travala supports more than 90 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and more.

Travelala's newest addition to the X platform is the first to support TON payments.