Kategorie: Altcoin News

• Toncoin price rose 13% in the past 24 hours to lead top gainers on Wednesday.
• Gains followed major news announcements by TON Foundation and another related to Telegram.
• TON price traded at $3.48 at the time of writing, while volume was at $745 million.

Toncoin (TON) price caught the crypto market’s attention on Wednesday as it rose sharply amid broader market struggles for Bitcoin and top altcoins.

With 13% in price gains in the past 24 hours, Toncoin ranked among the top gainers on the day, outpacing the likes of Quant, Uniswap, and Injective among the top 100 by market cap.

TON, native to The Open Network blockchain, rallied as traders raced to buy amid a series of major Telegram news.

Toncoin price soars, volume up 400%

As the price of Toncoin soared by more than 13%, trading volume rose through the roof.

As per data from CoinMarketCap, Toncoin recorded a 410% spike in volume, hitting $745 million.

TON’s price reached highs of $3.69 before slightly retreating to $3.48 at the time of writing.

Gains see TON token up by more than 10% in the past week.

Before the latest gains, Toncoin price largely traded flat over the week, with no momentum after bulls gave up ground.

Is this uptick thus going to push the altcoin to above $5? The price last hovered above these levels in early 2025.

Telegram news buoys TON price

As noted above, the main catalyst for Toncoin’s notable price surge is a series of positive news.

The vibe mostly relates to two major announcements linked to Telegram and the TON Foundation.

First, the TON Foundation revealed the appointment of Nikola Plecas as its new Vice President of Payments.

Plecas, a former Visa executive with deep expertise in crypto product innovation, is tasked with scaling TON’s payment infrastructure to cater to Telegram’s massive user base of over 1 billion.

His focus will be on enhancing interoperability, security, and scalability—key pillars for mainstream adoption of Web3 payments.

Plecas’s experience at Visa, where he shaped the company’s global crypto strategy, positions him as a pivotal figure in TON’s ambition to revolutionize payments within the Telegram ecosystem.

Why else is Toncoin’s price up today?

Also fueling optimism around TON is news that Telegram plans to raise $1.5 billion through a bond sale.

Notably, market reaction largely jumped as traders noted that Telegram’s initiative is backed by Wall Street heavyweights like Citadel and BlackRock.

That’s not all. TON is also expanding its ecosystem, integrating Ethena’s USDe and tsUSDe stablecoins for in-app savings.

Collaboration with Tether via LayerZero for a multi-chain network has also been a key development.

The post Toncoin price spikes 13% amid major Telegram-related news appeared first on CoinJournal.

• FTX Token recently slipped amid news of $5 billion distributions
• But what does FTX distributions mean for potential FTT price movement?
• Broader market sentiment may also dictate price direction for the FTX token.

The FTX Token (FTT), the native cryptocurrency of the now-defunct crypto exchange FTX, is up 2.8% in the last 24 hours to trade above $1.24.

While not huge, the gains continue FTT token’s uptick from lows of $1.12 hit earlier in the week.

This comes as the FTX holder community eyes fresh momentum amid the impending $5 billion second phase of bankruptcy distributions.

But what does this initiative that starts on May 30, 2025 mean for FTX Token?

FTX Token recent price action

Over the past month, FTT has seen a notable 32% surge, driven by speculation around the FTX bankruptcy estate’s upcoming distributions.

However, the token has faced downward pressure in the past week, dropping to around $1.12 before rising to $1.24 in the last 24 hours.

The downturn threatened to stall the altcoin’s bullish momentum, with the pullback coming amid broader market struggles.

After initially spiking on the bankruptcy estate’s plan to distribute over $5 billion to creditors starting May 30, 2025, the token dropped again.

Now that the payouts, which will range from 54% to 120% of original claims, are about to commence, activity around FTT is rising.

Per CoinMarketCap data, daily volume has jumped 21% in the past 24 hours to reach $26.7 million.

FTX distributions and potential price movement

The FTX bankruptcy estate’s plan to distribute over $5 billion to creditors marks a significant milestone in the exchange’s recovery process.

As CoinJournal highlighted earlier, the anticipation of the announced payouts fueled a 14% surge in FTT’s price.

Some investors see the repayments as positive news that could further bolster market confidence in FTT.

It’s still possible FTX’s collapse in November 2022 continues to constrain FTT, which has plummeted to below $1 since the crypto exchange imploded.

But the token, which peaked at $85 in September 2021, has shown resilience in recent months.

🚨TOMORROW :

FTX will begin distributing $5B in stablecoins to creditors starting May 30th.

Creditors are getting their funds paid in stables, so expect potential huge inflows of capital to pour into the crypto markets throughout the weekend📈

Also keep an eye on $FTT (FTX… pic.twitter.com/HVW9k63ca3

— Bitcoinsensus (@Bitcoinsensus) May 29, 2025

While FTT has largely traded below $2, occasional spikes have driven it higher. Notable news around bankruptcy updates have provided most of this upward movement.

Also, a February 2025 post from incarcerated former CEO Sam Bankman-Fried triggered a brief 30% rally, pushing FTT to $2.34 before it retreated.

This downturn was brutal though,with FTX token hitting lows of $0.78 in early April 2025.

Bears might yet target further pain, but ongoing speculation around creditor repayments, and broader market sentiment could be huge catalysts for the altcoin.

The post FTT posts slight gains as FTX prepares $5B in distributions appeared first on CoinJournal.

• Merlin Chain (MERL) price rose sharply as Binance announced the launch of MERL perpetual futures.
• The MERL token, native to the Bitcoin layer-2 solution, reached highs of $0.13 and could target $0.20.
• Altcoins have often spiked in price after such announcements by Binance.

Merlin Chain (MERL), a Bitcoin Layer-2 solution, has witnessed a significant price surge following a major announcement from Binance.

On May 28, 2025, Binance revealed the launch of USD-margined MERL Perpetual Contracts, a move that has sparked renewed interest in the token.

The news saw the price of Merlin Chain rise amid an increase in volume, with traction likely to push MERL beyond the $0.14 mark.

Binance Futures adds MERL perpetual contracts with 50x leverage

Binance Futures, the derivatives arm of the world’s leading cryptocurrency exchange, announced the addition of MERL perpetual contracts on May 28, 2025.

Binance EN: Binance Futures Will Launch USDⓈ-Margined MERLUSDT Perpetual Contract

Time: 2025-05-29 08:30 (UTC): MERLUSDT (up to 50x leverage)https://t.co/S7r8ePNplD

— Merlin Chain (@MerlinLayer2) May 28, 2025

According to the official announcement, the USD-M MERL Perpetual Contract will go live on May 29, 2025, at 08:30 UTC, allowing traders to access up to 50x leverage.

This high-leverage offering is designed to attract both seasoned traders and those looking to capitalize on MERL’s momentum.

The announcement follows Binance’s earlier listing of MERL on its Binance Alpha, which occurred on May 20, 2025.

It’s a move that introduced MERL to a broader audience, and the addition of perpetual contracts now amplifies its appeal in the derivatives space.

Binance Futures has a history of boosting token visibility and liquidity through such listings, as seen with previous launches of other perpetual contracts.

For MERL, this move underscores Binance’s confidence in the project’s potential to drive trading activity.

Merlin Chain (MERL) price surges

The market response to the Binance Futures listing has been swift and positive.

According to data from CoinMarketCap, Merlin Chain price rose to $0.1346, doing an upward flip of over 10% in the past 24 hours.

This surge has been accompanied by a decent spike in trading volume, with MERL recording a 17% surge in daily volume to over $803 million.

The token’s market cap has reached $95.5 million.

Merlin Chain’s price gains highlight the growing interest in its ecosystem, which focuses on enhancing Bitcoin’s layer-2 capabilities.

The project supports popular Bitcoin protocol tokens like BRC20 and BRC420, and its integration of ZK-Rollups and decentralized oracle networks has made it a standout in the decentralized finance space.

While price remains well off the all-time high of $1.55 hit in April 2024, the Binance Futures listing could be a key catalyst.

In this case, the token’s value could jump to $0.2 and target December 2024 highs of $0.48 in coming weeks.

The post Merlin Chain price gains as Binance adds MERL perpetual contracts appeared first on CoinJournal.