This Week in Crypto – TON Balloons 36% as BTC and ETH Hold Steady

This Week in Crypto – TON Balloons 36% as BTC and ETH Hold Steady

Crypto Price Analysis

Prices of Leading cryptocurrencies have remained relatively stable this week. Bitcoin and Ethereum are up 2.62% and 1.23% to trade for $26,504 and $1,625.56 at press time. ETH’s growth is likely thwarted by a report suggesting more tokens have been added to supply than those burned since Last September’s merger, which saw the Ethereum blockchain transition from proof-of-work to proof-of-stake consensus mechanism.

According to data from, ETH’s supply grew by 4,096 tokens last week, estimated to be worth $6.98 million.

Most top altcoins are trading near the prices they were last week despite the United States Bureau of Labor Statistics releasing its Consumer Price Index report mid-week that indicated inflation was above economists’ predictions due to an increase in gasoline prices.

This Week’s Top Gainers and Losers

Two cryptocurrencies have defied this week’s market trend to post massive gains. Bitcoin Cash has added 12% to its value to trade at $213.76. Toncoin is up 36% to change hands for $2.39. TON’s rally was fueled by news that popular messaging app Telegram had integrated a Web3 wallet into the platform, allowing its over 750 million users to access Toncoin.

Try GPT Definity AI today, the #1 crypto trading robot! Click here to learn more. Artificial intelligence trading robots are taking over the trading eco-system, you can join this revolution and profit from daily revenues! Get ahead of the trading game with Artificial Intelligence crypto trading software today!

In 2020, Telegram dissociated itself from TON after the United States Securities and Exchange Commission accused the company of selling unlicensed securities through its Gram token. At the time, Telegram paid $18 million in fees to settle the charges.

One crypto asset that has recorded notable losses this week is Stellar. It is down 9.6% to trade at $0.118199 as of this writing. The latest price drop is likely a correction after it rallied 11% last week following a tweet from Stellar Organization, promising “something cool” over the coming days.

Other News

More Traditional Companies Adopt Crypto

At the start of the week, Sony Network Communication, a subsidiary of tech Giant Sony, announced it had partnered with tech company Startale Labs to develop a blockchain network. However, the purpose of the Web3 network remains unclear.

On Wednesday, US-based payments company PayPal rolled out crypto to fiat off-ramps. The move comes a month after the firm launched a crypto on-ramp, allowing Ledger and MetaMask users to buy cryptocurrencies within the wallets.

Disclaimer: Mining Plus Crypto specializes in amplifying content for dozens of cryptocurrency and blockchain firms, and your company could be next on the list! For inquiries, please reach out to us through or Telegram Chat. Given the unpredictable nature of cryptocurrencies, we advise you to thoroughly research before investing. A portion of the content available on our website, including broker reviews, is paid content or content contributed by guest writers and does not necessarily represent the opinions of Mining Plus Crypto. We claim no liability for the accuracy, quality, and content of advertisements, products, or any other materials, including ad spaces displayed on our site. For a comprehensive understanding, please review our full terms and conditions, and disclaimer.

Michael Varney
About Author

Michael Varney

Michael Varney, a distinguished name in crypto journalism, offers deep insights into the world of blockchain. Merging meticulous research with eloquent prose, Michael's articles decode the complexities of digital currencies, establishing him as an indispensable source for those keen on understanding the evolving crypto landscape.

Leave a Reply

Your email address will not be published. Required fields are marked *

Skip to content