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Toncoin led gains among the top 20 cryptocurrencies by market capitalization over the past 24 hours, according to CoinGecko.
Toncoin (TON) surged 10% on Thursday, hitting an intraday high of $3.93 after Grok AI announced its integration with Telegram.
Toncoin led gains among the top 20 cryptocurrencies by market capitalization over the past 24 hours, according to CoinGecko.
Meanwhile, Bitcoin hovered just below $87,000, while Ethereum traded slightly above $2,000 in U.S. midday trading.
The move marks Grok’s first expansion beyond X, formerly known as Twitter, tapping into Telegram’s vast user base. Telegram recently reported over one billion monthly active users.
Toncoin is the native cryptocurrency of The Open Network (TON), a decentralized Layer-1 blockchain initially developed by Telegram co-founder Nikolai Durov.
The project, originally called the Telegram Open Network, was handed over to the TON Foundation in 2020 following legal challenges. The foundation now oversees its development, aiming to create a blockchain ecosystem for decentralized applications (dApps) and digital payments.
Meanwhile, Grok is an AI chatbot developed by Elon Musk’s company, xAI. Designed to compete with OpenAI’s ChatGPT, it distinguishes itself with real-time access to information via X and a deliberately edgy, sometimes provocative tone.
For now, access to Grok on Telegram is limited to Telegram Premium users.
Musk launched xAI in 2023 as a direct competitor to OpenAI. The company has positioned Grok as an alternative to mainstream AI chatbots, leveraging Musk’s platforms to expand its reach.
On Stocktwits, retail sentiment around Toncoin’s token remained in ‘neutral’ territory.
Toncoin’s price has rallied 14% over the past 30 days but has lost 20% of its value over the past 12 months.
Despite Thursday’s rally, the cryptocurrency continues to trade 52% below its all-time high of $8.25, seen in June last year.
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