As a seasoned crypto investor with a keen interest in emerging projects, I’ve been closely monitoring the recent developments surrounding Toncoin (TON) and The Open Network (TON) blockchain. Having witnessed the ups and downs of various altcoins over the years, I can confidently say that TON’s rapid growth is particularly noteworthy.
The cryptocurrency Toncoin, which is native to The Open Network (TON) blockchain, has seen significant price increases and expansion in its community lately. Following a lengthy stagnation ranging from $1 to $2 since the beginning of 2022, Toncoin’s value reached an all-time high of $8.25 on June 15th.
This milestone comes with a substantial boost to the total value secured on the TON blockchain’s blockchain, which has nearly doubled from $300 million.
TON Blockchain’s TVL Hits $600 Million
Based on the analysis of technical expert Kyle Doops, the total value locked in the TON blockchain has seen a remarkable increase, now standing at $608.65 million – a figure that represents a stunning doubling of its value in just over two weeks.
The surge in value for Doops can be linked back to TON‘s partnership with Telegram, which brings over 900 million users into play. Additionally, the total value locked in DeDust, bemo, and Stakee has risen noticeably, fueling the expansion of the TON platform.
I’ve recently learned that users can now promote their channels on Telegram through ad placements. To ensure seamless and secure transactions for these ads, the charismatic CEO, Pavel Durov, has made an exclusive selection – the TON blockchain will be utilized for swift and reliable payment and withdrawal processes.
Pavel announced that users can buy ad spots using Toncoins on our social media platform now, and the earnings from these ads will be distributed among channel owners in Toncoin. This method sets off a self-reinforcing loop, enabling content creators to utilize their revenue for enhancing their channels and boosting promotions.
Moreover, more than 388,000 wallets are used daily on the TON network, while over 5.5 million have been active in the past month. Notably, this growth outpaces that of Coinbase’s Layer 2 (L2) BASE, according to crypto analyst Leon Waidmann, marking a significant milestone for expansion and acceptance within the cryptocurrency sector.
Analyst Forecasts 40% Potential Breakout For Toncoin
Despite a 1.2% decrease in TON‘s value over the last 24 hours, there’s been a significant surge in trading activity, with a 22% rise in volume as per CoinGecko’s latest data. This heightened investor interest is a promising sign for the token.
As a researcher studying the price trends of TON, I have observed noteworthy growth in different timeframes. In just the last seven days, there has been an uplift of approximately 11%. The fourteen-day period saw a more pronounced rise of around 18%, and astonishingly, over the past thirty days, the price surge reached a staggering increase of approximately 22%.
Crypto expert Ali Martinez anticipates a bullish outlook for Toncoin (TON). He speculates that the digital currency could experience a significant surge, potentially reaching a price of $11, marking a potential 40% increase from its current value.
Despite the analyst’s observation that the TD Sequential indicator may indicate a possible drop to $7.2, they also noted the need for a brief pullback to collect liquidity before an anticipated uptrend. In the short term, significant support can be found at $7.78, while $8.17 acts as resistance.
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2024-06-18 01:16