Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Ton Foundation airdrops $600,000 to NFT traders and holders

Source Fxstreet

Active NFT traders and holders across Ton NFT marketplaces between April 11 and 23 are eligible for the airdrop.
Ton aims to boost its on-chain metrics through the Open League airdrop campaign.
Ton is down 2.2% on Thursday despite airdrop announcement.

Ton (TON) announced an airdrop worth $600,000 to NFT traders and holders within its network in an effort to continue spurring growth within its ecosystem. This comes as TON's on-chain metrics fall behind compared to other top smart contract blockchain networks.

Read more: Ton Foundation partners with Hashkey to enable crypto on-ramping for Telegram wallet users

TON airdrop is aimed at spurring growth within its network

The Ton Foundation continued its incentive program to attract users on Thursday after announcing an airdrop of $600,000 worth of TON tokens to NFT traders and holders. The airdrop was targeted at active traders and holders on Ton's NFT marketplaces Getgems, xRare and TonDiamondsNFT.

According to an announcement on X, Ton said it had already taken the snapshot, and active traders across the above marketplaces between April 11 and April 23 were eligible for the airdrop. The airdrop distribution criteria would be based on points earned from activities, including the number of NFT collections traded, total NFT trading volume and number of NFT deals performed.

3/ Points system & rewards

Participants earned points based on their activity across various metrics, such as:

▪️ Number of NFT collections traded: Up to 3 points for more than 5 collections
▪️ Number of NFT deals performed: Up to 3 points for more than 12 deals
▪️ Total NFT…
— TON (@ton_blockchain) April 25, 2024

The airdrop follows earlier airdrops from Ton's Open League campaign, which aimed to boost activity within its blockchain ecosystem. For example, the Ton Foundation airdropped $120,000 worth of TON tokens to holders and traders of top tokens in The Open League's hackathon on Wednesday. Following this, Ton also reduced fees by 2.5x to continue attracting users.

Also read: USDT launches on TON blockchain as Tether announces US Dollar, Gold-backed tokens

These efforts are important since despite Ton's meteoric rise to break into the top 10 cryptocurrencies by market capitalization, its on-chain metrics remain weak. Its total value locked of $156.56 million and on-chain trading volume of $8,484 is quite tiny compared to other top smart contract blockchains, according to data from DeFiLlama. Hence, Ton may be doubling down on integrations and reward programs to improve activity within its network.

In the past week, Ton has also partnered with Telegram and Tether to allow users of the social media platform to send and receive the USDT stablecoin for free.

Read more: Correction: TON price hits new all-time high amid Telegram-related hoax

TON is trading at $5.53, down 3.3% at the time of writing.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Bitcoin CME gaps at $35,000, $27,000 and $21,000, which one gets filled first?Prioritize filling the $27,000 gap and even try higher.

Author FXStreet

Aug 22, 2023

Prioritize filling the $27,000 gap and even try higher.

Natural Gas sinks to pivotal level as China’s demand slumps Natural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It

Author FXStreet

Jul 01, 2024

Natural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It

Pinduoduo Earnings Incoming: Morgan Stanley Sees Long-Term Profit Potential Insights – On November 21, Chinese e-commerce giant Pinduoduo (PDD) will release its Q3 2024 earnings.

Author Mitrade

Nov 20, 2024

Insights – On November 21, Chinese e-commerce giant Pinduoduo (PDD) will release its Q3 2024 earnings.

Bitcoin briefly loses 2025 gains as crypto plunges over the weekend.Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant. The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year. Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus. Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses. Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.

Author Mitrade

Nov 17, 2025

Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant. The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year. Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus. Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses. Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.

WTI Price Forecast: Seems vulnerable near $90.50 as technical breakdown comes into play West Texas Intermediate (WTI) – the benchmark US Crude Oil price – plummets to a nearly two-week trough during the Asian session on Wednesday in reaction to news that the US and Iran have agreed to a two-week ceasefire.

Author FXStreet

Yesterday 01: 48

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – plummets to a nearly two-week trough during the Asian session on Wednesday in reaction to news that the US and Iran have agreed to a two-week ceasefire.

Popular Symbols