Telegram developers founded Toncoin's TON coin after the app's original cryptocurrency, Gram, also known as TON, was deemed an unregistered security by the U.S. Securities and Exchange Commission (SEC). The Toncoin blockchain caught people’s attention in September 2024, with excitement building ahead of the Hamster Kombat (HMSTR) token airdrop. However, as soon as HMSTR was launched, TON dropped slightly. It made another recovery later in the year, surpassing $6 in early December before falling again mid-month. On December 19, 2024, Toncoin was worth around $5.45.
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