Telegram's Toncoin Reaches New All-Time High... Chasing Dogecoin's Market Cap

▲ Hotel and flight booking site Travala supports crypto payments Travala has announced that it is now accepting TON payments through X. The company's newest product, Travala, is now available for purchase. Currently, Travala supports more than 90 cryptocurrencies, including BTC, ETH, USDT, and more.

Telegram's so-called coin, TON, which has over 900 million monthly active users, has surged 5% in the past 24 hours, the highest price gain among the top 100 cryptocurrencies.

As of 11:09 a.m. ET on June 14, the TON coin price had surged 5.07% from 24 hours earlier to $7.94, a new all-time high, according to CoinMarketCap, a global cryptocurrency price aggregator.

TON's current market capitalization is approximately $98.3 billion, closely trailing eighth-place Dogecoin (DOGE) at $20.6 billion.

Recently, TON overtook veteran cryptocurrency Cardano (ADA) to become the ninth-largest digital asset.

Cryptocurrency analyst and trader Ali Martinez predicts that TON price could surge by as much as 40%.

He estimated that the intermediate target for TON price movement is above $11.

Meanwhile, 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 set to explode, which is positive for TON."