Toncoin (TON) flipped Cardano’s (ADA) token to become the ninth-largest cryptocurrency by market capitalization on April 9. Can Toncoin continue its parabolic rise?

4 月 9 日，Toncoin (TON) 超越了 Cardano (ADA) 代币，成为市值第九大加密货币。Toncoin 能否继续其抛物线式上涨？

TON becomes the ninth-largest crypto

TON 成为第九大加密货币

Following a 13% daily price increase, TON rose to $6.65 as of 1:45 p.m (UTC), to become the ninth largest cryptocurrency with a $23 billion market capitalization, overtaking the ADA token’s $22 billion market cap, according to CoinMarketCap data.

根据 CoinMarketCap 的数据，在每日价格上涨 13% 后，截至下午 1:45（UTC），TON 升至 6.65 美元，成为第九大加密货币，市值达 230 亿美元，超过 ADA 代币的 220 亿美元市值。

The rally comes a day after TON Society developers set aside $5 million Toncoin to incentivize users to verify their identity using palm scanning technology. The project aims to enable digital identity verification for Telegram users over the next five years and will distribute one million TON to users participating in the proof-of-personhood program.

此次集会是在 TON Society 开发商拨出 500 万美元 Toncoin 来激励用户使用手掌扫描技术验证身份的第二天发生的。该项目的目标是在未来五年内为 Telegram 用户提供数字身份验证，并将向参与身份证明计划的用户分发 100 万 TON。

The increased interest in TON helped it outperform Cardano’s ADA. TON price has surged over 135% during the past month, while the ADA price fell 15%.

人们对 TON 兴趣的增加帮助它超越了卡尔达诺的 ADA。过去一个月，TON 价格飙升超过 135%，而 ADA 价格下跌 15%。

Zooming out further, TON price increased 183% year-to-date (YTD), while ADA price fell 1.30% YTD.

进一步缩小范围，TON 价格年初至今上涨 183%，而 ADA 价格年初至今下跌 1.30%。

TON launched a $115 million community incentive program on March 20, with $38 million for token mining and user incentives, $22 million for airdrops, $15 million for The League developer ecosystem, and $40 million for liquidity pool boosts. The program aims to drive more user adoption.

TON 于 3 月 20 日启动了 1.15 亿美元的社区激励计划，其中 3800 万美元用于代币挖矿和用户激励，2200 万美元用于空投，1500 万美元用于 The League 开发者生态系统，4000 万美元用于流动性池提升。该计划旨在推动更多用户采用。

In contrast with Toncoin, Cardano’s ADA saw little interest this year, as investor attention was focused on the Bitcoin exchange-traded funds (ETFs), and other major blockchain upgrades, such as Ethereum’s Dencun upgrade.

与 Toncoin 相比，Cardano 的 ADA 今年兴趣不大，因为投资者的注意力集中在比特币交易所交易基金 (ETF) 和其他主要区块链升级上，例如以太坊的 Dencun 升级。

Related: With 10 days to the halving, analysts predict $150K Bitcoin top

相关：距离减半还有 10 天，分析师预测比特币价格将达到 15 万美元

Can TON maintain its momentum?

TON 能否保持势头？

Toncoin’s price action has been drastically outperforming Dogecoin. TON rose 130% dring the past month while DOGE only gained 14.8%. Year-to-date, TON is up 177%, while DOGE price is up 108%, according to TradingView.

Toncoin 的价格走势远远优于狗狗币。 TON 过去一个月上涨了 130%，而 DOGE 仅上涨了 14.8%。根据 TradingView 的数据，今年迄今为止，TON 上涨了 177%，而 DOGE 价格上涨了 108%。

While Dogecoin’s price action is purely based on speculation-driven demand, Toncoin’s utility within the Telegram messaging app can lead directly to its price appreciation with increasing user uptake. 

虽然狗狗币的价格行为纯粹是基于投机驱动的需求，但 Toncoin 在 Telegram 消息应用程序中的实用性可以随着用户使用量的增加而直接导致其价格升值。

On the downside, Toncoin’s token distribution could raise concerns among retail investors. According to CoinCarp data, over 60% of Toncoin is held by the 10 largest holders, while 93% of the supply is held by the 100 richest holders.

不利的一面是，Toncoin 的代币分配可能会引起散户投资者的担忧。根据 CoinCarp 数据，超过 60% 的 Toncoin 由前 10 位最大持有者持有，而 93% 的供应量由前 100 位最富有持有者持有。

Related: Telegram Mini Apps are ‘Trojan horse’ for mass blockchain adoption — TON investments director

相关：Telegram 迷你应用程序是大规模区块链采用的“特洛伊木马”——TON 投资总监

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

本文不包含投资建议或建议。每一项投资和交易行为都涉及风险，读者在做出决定时应自行研究。