Toncoin (TON) Overtakes Cardano (ADA).

Toncoin (TON) overtakes Cardano (ADA) to claim the 9th spot in terms of market capitalization. Data from CoinMarketCap shows that TON surpassed ADA's market value, reaching $23 billion, while ADA had a value of $22 billion.

In the last month, the price of TON has increased by over 134%, which is a significant rise compared to the competition. Meanwhile, the price of ADA has decreased by 14%. Furthermore, since the beginning of the year, the price of TON has increased by an impressive 182%, while ADA has lost 1.30% of its value.

The increase in TON's value was partly due to increased interest in this cryptocurrency. However, a key moment was the day when the creators of TON Society allocated $5 million in Toncoin to encourage users to use innovative palm-scanning technology to authenticate their identity. The project aims to deliver one million TON to users who participate in the proof-of-personhood program over the next five years, allowing them to verify their digital identities on the Telegram platform.

One of the key factors contributing to the increase in TON's value is also the $115 million social incentive program. This program aims to increase TON adoption by users.

Despite its successes, Toncoin may encounter uncertainty among retail investors due to the token distribution method. Statistical data shows that the top 100 wealthiest Toncoin holders own 93% of the total supply, while the top 10 holders control almost 60% of this resource, which may raise concerns about the evenness of distribution.

*This is not a financial advice