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TON Jumps 10% to Become 10th Largest Crypto as Altcoins Rally

The altcoin scene is buzzing with excitement as several cryptocurrencies witness a notable surge, with Telegram Open Network (TON) standing out with its recent impressive performance.

Over the last 24 hours, TON’s price surged by more than 10%, propelling it into the top 10 cryptocurrencies by market capitalization. This significant achievement follows a robust week for TON, during which its value increased by 15%. According to Coingecko data, TON now holds a market capitalization of nearly $18 billion.

Altcoins Rally as Bitcoin Nears All-Time High

BNB, the native token of the Binance chain, has recently experienced a notable surge, soaring by over 11% in the past 24 hours to hit $690. This impressive rally has pushed BNB’s market capitalization back above the coveted $100 billion mark, a milestone it hadn’t reached since early December 2021.

Meanwhile, Solana (SOL) is trading at $173, marking a gain of over 5% in the last 24 hours. Avalanche (AVAX), Bitcoin Cash (BCH), and Uniswap (UNI) have also seen positive movements, rising by 4.3%, 4.8%, and 18.5%, respectively, over the same period.

While altcoins are taking the spotlight, Bitcoin is also on the rise, steadily approaching its all-time high at $71,000. This collective surge across the market hints at a potential resurgence of the “altcoin season,” a period characterized by altcoins outperforming Bitcoin.

On the other hand, Ethereum, the second-largest cryptocurrency, remains stable at $3,785, experiencing a 2% decrease over the last seven days. As of the time of writing, Bitcoin is trading slightly above $71,000, marking a gain of over 3% in the last 24 hours.

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I want to save money. Will cryptocurrency work?

Cryptocurrency is essentially virtual money that operates in a decentralized manner, not through a bank but directly on multiple independent computers.

Every cryptocurrency has two main components: the units of digital exchange called “coins” and the network within which the exchange takes place. These units can be transferred between wallets and exchanged on exchanges. The networks in which these coins exist are called blockchains, which translates to “chains of blocks.”

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