The cryptocurrency market is abuzz with activity as altcoins experience a significant upswing. Telegram Open Network (TON) has witnessed a remarkable rise recently.
TON’s price jumped over 10% in the last 24 hours, propelling the cryptocurrency into the top 10 cryptocurrencies by market capitalization. This impressive feat comes on the heels of a strong week for TON, with its value increasing by 15% over the past seven days. TON currently boasts a market capitalization of nearly $18 billion, according to Coingecko data.
Altcoins Rally as Bitcoin Nears All-Time High
BNB, the native token of the Binance chain, also experienced a significant surge, rising over 11% in the past 24 hours to reach a price of $690. This impressive rally has propelled BNB’s market capitalization back above the coveted $100 billion mark, a level it hadn’t seen since early December 2021.
Trading at $173, Solana (SOL) is up over 5% in the last 24 hours. Avalanche (AVAX), Bitcoin Cash (BCH), and Uniswap (UNI) have also shown notable gains, with increases of 4.3%, 4.8%, and 18.5%, respectively, in the last 24 hours.
While altcoins are stealing the show, the leading cryptocurrency Bitcoin hasn’t been left behind. Bitcoin has also seen a steady rise, inching closer to its all-time high by reaching $71,000. This collective surge in the market suggests a potential resurgence of the “altcoin season,” a period where altcoins outperform Bitcoin.
On the other hand, the second-largest cryptocurrency Ethereum remains stable at $3,785, down 2% over the last seven days. At the time of writing, Bitcoin is trading just above $71,000, over 3% up in the last 24 hours.