Toncoin, the digital token connected to The Open Network (TON), has climbed into the top 10 digital assets by market capitalization due to recent advancements in the network. The TON network is closely associated with the popular social messaging platform Telegram.

Recently, on April 8, TON Society, a group involved in the TON blockchain, announced a partnership with AI firm HumanCode to introduce a palm scanning technology for identity verification. This innovative system can be used on smartphones and browsers, recognizing all skin tones to ensure privacy and anonymity for users. To encourage identity verification, TON Society is offering a million TON tokens as incentives, equivalent to approximately $7 million.

Furthermore, Telegram has integrated Toncoin payments into its advertising model, allowing users to buy ads using Toncoin and share revenue with public channel creators. The messaging app has shifted to the TON network for ad service payments. As a result of these developments, the price of TON has increased by 22% in a single day and over 30% in the past week, reaching nearly $7.

The surge in value has pushed TON's market capitalization to over $23 billion, surpassing other major blockchain networks like Cardano, Avalanche, and Dogecoin. Concurrently, there has been a significant increase in network activity within the TON blockchain ecosystem, with the number of active wallets reaching 1.65 million in the past month. This growth has led to a rise in daily transactions, surpassing 4 million in the last day.