At the time of writing, the cryptocurrency TON is trading at $5.88, marking a 9.6% increase over the past 24 hours. Additionally, TON’s capitalization has reached a record high of $20.3 billion. This achievement comes amidst several significant events.
The cryptocurrency’s surge to all-time highs coincides with the launch of the Telegram Open Network (TON) blockchain in 2018 by Pavel Durov and his brother Nikolai. However, after two years, the duo abandoned the project due to legal issues with the U.S. Securities and Exchange Commission (SEC). As a result of the litigation, Durov reached a settlement with the SEC, returning investor funds and paying a fine of $18.5 million.
Despite these challenges, the TON network has continued to evolve with the support of the TON Foundation community members.
