TON Surges Nearly 40% Over the Week: What's Behind the Pump?

Within the top 100 cryptocurrencies by market capitalization, Toncoin’s TON is leading gains with a nearly 40% surge over the weekly period, according to data from CoinMarketCap.

Though often difficult to pinpoint the precise factors behind a particular token’s price movement, it appears that the September 13 announcement of TON Space - a Telegram application feature that will reportedly allow its 800 million monthly users access to a cryptocurrency self-custody wallet, available via the Telegram application.

It seems likely that cryptocurrency investors, and the Toncoin community in particular, will be hopeful that this new integration will proliferate TON and its usage across the industry, in the wake of historical regulatory woes, in particular, regarding the US Securities and Exchange Commission.

RUNE and VET Experience Weekly Growth

Though behind TON by way of price increases, Thorchain (RUNE) and VeChain (VET) have also experienced a positive week with 22% and 15% surges, respectively, according to CoinMarketCap at time of writing.

Gains experienced by these altcoins are set against a backdrop of what has been a less exciting week for major assets such as Bitcoin (BTC) and Ethereum (ETH), which are currently up only 3% and 0.4%, respectively.