TON Network Memecoins Soared Higher
The price of memecoins from The Open Network (TON) ecosystem skyrocketed during the last week and there are tokens that registered a rise of more than 80%.
As Criptonoticias has explained, memecoins are digital assets created as jokes, inspired mainly by Internet memes. They can also be based on various breeds of dogs, lizards, foods, and famous people or politicians.
The practical usefulness of these assets is generally zero, since They are mostly used for financial speculation. In fact, their creators and followers assure that they are for fun.
Therefore, just as they tend to increase in price easily, they also tend to lose their value quickly and unpredictably.
In the last week, according to CoinMarketCap, Raccoon (ROON), a meme cryptocurrency whose image is a raccoon, registered an increase of 84%. Meanwhile, the digital asset bearing the face of former US President Donald Trump, Tonald Trump (TONALD) rose 47.47%.
One step below appears the Povel Durev meme token (DUREV), a meme based on the founder of Telegram, whose price increased by 31.66% in the last week.
Below are the TON network memecoins that rose in the last seven days:
The rise of these tokens is driven by the price of Toncoin (TON), the cryptocurrency of the TON ecosystem, which on June 14 marked its all-time high (ATH) and reached the barrier of $8.10.
As CriptoNoticias already reported, TON increased in price as the ecosystem gains more and more adoption. In the last two months, its total value locked (TVL) grew 1,900% to more than USD 450 million.
How does the TON ecosystem work?
The Open Network has several utilities and allows you to create wallets, exchanges, video games, staking platforms, DeFi protocols and non-fungible tokens (NFT), among other solutions.
It also offers the possibility of running applications on Telegram, one of the main mobile messaging apps. One of them is Notcoin, a game that offers NOT tokens for clicking the screen. Its adoption boosted the price of TON and NOT, which on June 2 marked its ATH.
TON’s goal is to change the image of memecoins and, therefore, now makes it easier for communities to design and create their tokens from scratch, using options according to their knowledge and skill.
“Launching a meme coin on TON would now be more accessible than ever and would require no coding experience,” the TON blog details.
