The post Toncoin (TON) Price Jumps 9% Post Pyth Network Partnership appeared on BitcoinEthereumNews.com.

Toncoin (TON), the native coin of The Open Network, has seen its value increase due to its recent collaboration with Pyth Network. This collaboration will enhance data delivery on the TON blockchain. It will also drive growth, especially in the Decentralized Finance (DeFi) and gaming industries. Toncoin Price Rise after the Announcement of Partnership Toncoin has gained by 9% in the last 24hrs and was exchanging hands at $7.05 as of press time. Prices rocketed after the August 14, 2024, announcement of the strategic partnership with Pyth Network. Before the correction, Toncoin reached an intra day peak of $7.22. TONcoin price | Source: CoinMarketCap Subsequently, this price movement is attributed to the partnership with Pyth Network which provides enhanced oracle services to the TON blockchain. These services are anticipated to be critical in advancing more complex applications. They are especially important for the rapidly growing DeFi and gaming categories on TON. Therefore, the partnership is focused on the integration of Pyth’s oracle service into the TON blockchain. This will provide institutional quality and real-time data to developers. The information is important in creating in-game economies and highly efficient DeFi solutions that demand high levels of precision and quick processing time. .@PythNetwork and @ton_blockchain have partnered to unlock high-fidelity data for builders looking to put crypto in every pocket. Pyth’s pull oracle is set to supercharge the developer experience on TON by offering apps the fastest, most efficient, and most reliable data in… pic.twitter.com/PvcWvmhJRv — Pyth Network 🔮 (@PythNetwork) August 14, 2024 Originally developed for the Solana blockchain, Pyth Network has expanded significantly. It now operates as a multi-chain network, supporting over 70 blockchains, including Ethereum, Arbitrum, and TON. Impact on Gaming and DeFi on TON The partnership will be most valuable for the gaming sector and Decentralized Finance (DeFi) on the TON blockchain. This will help…

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Filed under: News - @ August 15, 2024 12:19 pm