Toncoin (TON) Price Performance 5 Days Post-Durov Arrest: Whats Next?

Toncoin (TON) has faced significant turbulence in the past five days following the arrest of Telegram co-founder and CEO Pavel Durov in Paris. The close ties between Toncoin and Telegram have caused a sharp reaction in the market, with TON’s price plummeting over 25% since the event on Saturday.  Related Reading: Toncoin Tumbles To $4.6 As Bears Eye Further Decline, Will Support Hold? This sudden drop has left many holders in distress, uncertain about the token’s future. However, while opinions among analysts and investors vary, some see this as a potential opportunity. They argue that TON might be entering a reaccumulation zone, presenting a chance for savvy investors to buy at lower prices before the market stabilizes. As the situation unfolds, the focus remains on whether Toncoin can recover from this setback and regain its previous momentum. Toncoin In Accumulation Zone Toncoin (TON) is currently trading at the same levels it was at the beginning of the month when the broader crypto market was experiencing significant selling pressure. This retracement has caught the attention of several analysts and traders who believe it presents a strategic opportunity to accumulate TON at a discounted price. Coin Signals, a well-known group of crypto analysts on X, has shared a chart analysis indicating that Toncoin is potentially in a reaccumulation phase. According to their analysis, the current price levels could offer a 3x to 5x return if the market conditions align favorably. They argue that the recent price drop, triggered by the arrest of Telegrams co-founder and CEO Pavel Durov, may have been an overreaction, creating a buy-the-dip scenario for those willing to take on the associated risks. However, it’s important to note that while the potential for substantial gains exists, significant risks are tied to this project, especially in light of recent events. The uncertainty surrounding Telegram and its impact on Toncoin adds an extra layer of complexity for investors. As with any investment, thorough research and risk management are crucial before making decisions. Related Reading: Telegram Faces Indian Probe Following Durovs Arrest In France: TON Plummets 20% TON Price Action Toncoin (TON) is trading at $5.48 after enduring five days of aggressive selling pressure. In the past 12 hours, the price has recovered about 6%, finding resistance at the $5.04 mark, which has been a key demand level over the past month. This price reaction indicates that bulls are attempting to regain control, but the trend reversal is far from confirmed. For a more definitive shift in momentum, the price needs to break past and hold above the 4-hour exponential moving average (EMA), an indicator that signifies strength in price action. The 4H 200 EMA is currently positioned at $6.41, a significant 18% above the current price. Breaking above this level would be a strong bullish signal. Related Reading: Market Recovery: Whales Set Their Eyes on Matic, Toncoin, and Minepro However, if the selling pressure persists, theres notable liquidity resting below March’s low at $4.50. Should the price continue to decline, this level would likely act as the next support, making it a critical zone for bulls to defend. Featured image from Dall.E, chart from TradingView

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Toncoin Tumbles To $4.6 As Bears Eye Further Decline, Will Support Hold?

Toncoin is in a precarious position as it tumbles to $4.6, with bears eager to push prices even lower. With key support levels hanging by a thread, the big question on everyones mind is whether the bulls can muster enough strength to defend it or if a further drop is on the horizon. As uncertainty [...]

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Toncoin (TON) Falls By 15% Following Telegram CEOs Arrest

The price of cryptocurrency Toncoin (TON) has experienced a steep decline following reports of the arrest of Telegram CEO Pavel Durov. Toncoin has been one of the best-performing digital assets in 2024, however, the altcoin has faced a rather turbulent period in the last two months. Toncoin Reacts To Telegram CEO’s Detention According to French [...]

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Tron-Based SUN Token Skyrockets 197% As SunPumps Momentum Continues

The memecoin frenzy has reached the Tron Network after the launch of Pump.funs rival, SunPum. The new memecoin deployer has been making the headlines after surpassing its Solana-based counterpart on key metrics this week. The platforms remarkable performance in the past two weeks has propelled the network, TRX, and the SUN ecosystem. As a result, [...]

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BitMEX Launches TONUSDT Perpetual Swap with 10x Leverage

BitMEX has announced the listing of TONUSDT perpetual swap, offering traders up to 10x leverage. The new listing is now live on the platform. (Read More)

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Binance Futures to Introduce USD-Margined SYN Perpetual Contract with 50x Leverage

Binance Futures will launch the SYNUSDT Perpetual Contract on August 16, 2024, offering up to 50x leverage to enhance trading options. (Read More)

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NVIDIA Unveils Generative AI Tools for OpenUSD Workflows

NVIDIA introduces new generative AI and development tools for OpenUSD workflows at SIGGRAPH 2024, enhancing industrial and robotics applications. (Read More)

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NVIDIA Introduces Generative AI Models and NIM Microservices for OpenUSD

NVIDIA reveals generative AI models and NIM microservices for OpenUSD, enhancing workflows in industrial digital twins and robotics. (Read More)

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Toncoin Under Pressure As TON Price Falls Below 100-Day SMA, $6 Looms

Toncoin (TON) has recently seen a notable price decline, dropping below its 100-day Simple Moving Average (SMA). This breach of a critical technical indicator has placed the digital asset under bearish pressure, raising concerns among investors and traders. With the $6 mark now looming as a potential target, there is market speculation about whether the price will continue to decline or if a possible recovery could occur. This article aims to inform readers about the potential implications of Toncoin’s recent technical breach by providing an in-depth analysis of its market performance, specifically focusing on the price falling below the 100-day SMA. It also assesses possible future scenarios for TON’s price movement, exploring whether the digital asset will continue to decline toward the $6 mark or if a recovery might be imminent. At the time of writing, the price of Toncoin was trading around $6.75, up by 2%, with a market capitalization of over $16 billion and a trading volume exceeding $220 million. Over the last 24 hours, there has been a 2.01% increase in TON’s market capitalization, while its trading volume has decreased by 14.75%. Breaking Below The 100-Day SMA: A Technical Analysis After successfully crossing below the 100-day Simple Moving Average (SMA), the price of TON on the 4-hour chart is currently showing a short-term bullish correction, marked by a series of bullish candlesticks. However, it is important to note that the cryptocurrency may eventually decline toward the $6 support level again, as it remains trading below the 100-day SMA. Although the signal line of the Relative Strength Index (RSI) indicator on the 4-hour chart is attempting an upward move, it is still trending below the 50% level. This suggests that the current bullish trend may be short-lived, as momentum could shift from bullish to bearish, potentially driving the price towards the $6 support mark. On the 1-day chart, Toncoin is attempting to retest the 100-day SMA by forming a single bullish candlestick after breaching below it. Following this retest, the cryptocurrency asset may resume its downward movement towards the $6 support mark. Finally, it can be observed that the signal line of the 1-day RSI indicator has crossed below 50% and is currently moving towards the oversold zone. This positioning of the RSI indicator indicates a potential shift in momentum from bullish to bearish for TON’s price. Conclusion: Assessing The Long-Term Outlook For Toncoin Exploring TONs long-term outlook reveals that if the coin’s momentum shifts from bullish to bearish, the price will begin to move downward toward the $6 support mark. When the price reaches this level and breaks below, it may move lower to test the $4.6 support mark and probably move on to test other lower support marks on the chart if the price breaches this level. However, should Toncoin reach the $6 support range and experience a rebound, it could begin to move upward toward the $7.75 resistance mark. If the price breaks through this resistance, it may continue to rise, testing its all-time high of $8.20 and potentially establishing a new all-time high when this mark is surpassed. Featured image from Adobe Stock, chart from Tradingview.com

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NVIDIA Enhances Product Configurators with OpenUSD Integration

NVIDIA integrates OpenUSD with Omniverse and generative AI, streamlining product configurator development for hyperpersonalized digital experiences. (Read More)

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PolitiFi Memecoin Shakeout: BODEN Plummets 55% While KAMA Skyrockets 150% Following Biden Dropout

The political landscape in the US has seen a significant development after President Joe Biden announced he was dropping out of the presidential rally. Following the news, the PolitiFi memecoin sector saw a major shift as Biden-themed tokens immediately plunged and Kamala Harris-inspired tokens soared. Crypto Community Celebrates Bidens Candidature Withdrawal The November elections have [...]

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Toncoin (TON) Faces Price Fatigue, Possible Drawdown Ahead Analyst

Toncoin (TON) has been one of the best-performing crypto assets in recent times, gaining by over 221% since the start of 2024. The Telegram-integrated token has particularly caught the attention of many investors, after securing a spot in the top 10 cryptocurrencies according to market cap. However, amidst TONs purple patch, a certain technical indicator has sounded the alarm for a potential decline in the coming weeks. Related Reading: Toncoin (TON) Forms Double Top Pattern, Bearish Or Bullish? Adjusted Sharpe Ratio Indicates Overvaluation For TON: Analyst According to Shiven Moodley, an analyst on data analytics platform CryptoQuant, the comparison of TONs Adjusted Sharpe Ratio to volatility reveals that the assets 7-day volatility has consistently surpassed its 30-day volatility over the past two and a half years. For context, the Adjusted Sharpe Ratio is used to calculate the excess return of an investment relative to its risk, however with the consideration of additional factors that may affect the risk-adjusted return, thus providing a more nuanced measure of an assets performance.  Data from TONs Adjusted Sharpe Ratio versus volatility analysis indicate that Toncoin experiences more frequent and significant short-term price swings compared to its long-term price movement, thus implying the asset is highly sensitive to short-term events. Moodley attributes the cause of such volatility to the speculative nature of TON as well as the rising numbers of Telegram users in DeFi and GameFi, thus forcing the significant volatility to occur at a fundamental level.  However, according to the current 180-day Sharpe Ratio analysis, TONs price could have attained a level of fatigue. Therefore, the recent profits from the assets may not be sustainable with a potential price drop expected in the near term. Given this market analysis, short-term traders are expected to capitalize on this volatility which may prove profitable but is a highly risky strategy. However, long-term investors should consider that TONs price movement over an extended period is considerably lower and stable as observed from data from the 30-day volatility metric.   Toncoin Price Overview At the time of writing, Toncoin is trading at $7.38 following a 3.36% decline in the last day. However, the token presents a positive performance on larger time scales with an impressive 17.64% gain recorded over the last seven days. TONs daily trading volume is also on the green side having risen by 11.57% and is currently valued at around $402.12 million. With a market cap of $17.96 billion, TON ranks as the ninth largest crypto asset. Featured chart from Binance, chart from Tradingview

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Toncoin Price Prediction for Today, June 7 TON Technical Analysis

The Toncoin price prediction reveals that TON is moving bullishly with a gain of 1.05%, as the coin prepares for a bullish movement. Toncoin (TON) [...]

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SyncTwin Leverages OpenUSD and Generative AI to Democratize Industrial Digital Twins

SyncTwin's app uses OpenUSD and generative AI to enhance industrial efficiency and sustainability, transforming factory workflows. (Read More)

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SyncTwin Leverages OpenUSD to Transform Microsoft Files into Factory Digital Twins

SyncTwin GmbH is enabling SMBs to create digital twins from Microsoft files using OpenUSD and NVIDIA Omniverse, optimizing factory operations. (Read More)

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Binance Futures Introduces TONUSDT USD-M Contract for Copy Trading

Binance Futures Copy Trading will add the TONUSDT USD-M contract on June 25, 2024, enabling users to replicate trades of experienced traders. (Read More)

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TON Price Remains Resilient Above $6.7, Can It Hold Ahead Of Crypto Winter?

Despite the broader cryptocurrency market experiencing fluctuations and challenges, TON (The Open Network) has demonstrated remarkable resilience. Holding steady in the face of varying market sentiments, TONs price stability has attracted attention from investors and analysts alike.  This resilience raises a critical question, can TON maintain its strength and continue to thrive as the market potentially enters a tougher phase, often referred to as the crypto winter? TON’s price was trading at around $7.56 and was up by 4.03% with a market capitalization of over $18 billion and a trading volume of over $392 million as of the time of writing. There has been a 24-hour increase of 3.84% and 14.75% in TON’s market capitalization and trading volume respectively. This article examines the price action of TON in detail to assess if the market of the crypto asset will continue to be optimistic or whether further gains are likely before a decline. Analyzing TONs Performance Amidst Crypto Fluctuations On the 4-hour chart, the price of TON is actively bullish, and an upward move toward the $7.7 resistance level is being attempted. This followed after the price failed to break below the bullish trend line. It should also be noted here that the asset is actively trading above the 100-day Simple Moving Average (SMA) which suggests that TON might extend its upward trajectory. With the signal line of the Relative Strength Index (RSI) trending above 50% after an unsuccessfully attempted drop below it, the indicator confirmed the above claim that the digital asset might extend its upward movement. An analysis of TON’s current price action on the 1-day chart reveals that the bulls are still very active in the market as the price experiences a strong rejection after attempting a drop toward the bullish trend line. It can therefore be said that TON is actively bullish and may extend its bullishness. Adding to this, is the 1-day RSI indicator signaling more positive movements for TON’s price as the signal line after a drop to the 50% level, is beginning to rise above it again. Can TON Withstand The Crypto Winter? Exploring the prospects and strategies of TON for enduring future market downturns, it was revealed that if the crypto asset continues to move upward and break above the $7.7 resistance level. It may move higher to test the $8.2 resistance level and probably move on to create a new all-time high if the price breaches this level. However, if it fails to break above the $7.7 resistance level, it will begin to move downward toward the $6.7 support level. Should the price breach this support level, it may move further to test the $6.05 support level and possibly other lower levels. Featured image from Adobe Stock, chart from Tradingview.com

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Origin Protocol Price Prediction for Today, June 22 OGN Technical Analysis

The Origin Protocol price prediction suggests a bullish movement, indicating that the coin could be technically poised to break above $0.105. Origin Protocol Announces OGN [...]

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BitMEX Co-founder Backs Meme Coins: A Boon For Dogecoin, Shiba Inu, PEPE?

Meme coins, the once-dismissed “joke” tokens, are rapidly solidifying their position in the multi-trillion-dollar scene. According to CoinMarketCap, meme coins now command a cumulative market cap of over $45 billion. Interestingly, they are on an upward trajectory as thousands of meme coins are minted predominantly on top platforms like Solana, Ethereum, and Base. Analysts and investors are taking notice as meme coins like BOME, PEPE, and Dogecoin boom. Most predict this subset of crypto will expand and become a core part of the industry in the coming years. Arthur Hayes Backs Meme Coins In a recent interview, Arthur Hayes, the BitMEX co-founder, joined the growing list of meme coin supporters. Hayes backed meme coins, stating that these tokens are increasingly gaining traction because of their simplicity. Unlike complex decentralized finance (DeFi) protocols or AI, they require no technical knowledge. Therefore, this feature and accessibility continue to broaden their appeal. This position also seems to resonate with Raoul Pal, who, in the same interview, added that meme coins are rising because of the cultural connection these tokens tag. As constructed, meme coins are meant to ride on internet hype and cultural relevance. Related Reading: Potential Downtrend In Play? TON Struggles As Price Falls Below $7.7 Therefore, their playful nature and relatable themes resonate with a global audience. In turn, this helps forge a strong connection with the trend, as evidenced by the popularity of the viral BODEN meme coin. More analysts are coming out to back these tokens. Earlier, one analyst said at least three of these tokens would each command at least $100 billion in market cap in the next crypto bull run. Dogecoin is the most valuable meme coin, with a market cap exceeding $20 billion. If Dogecoin, for example, rallies to command a $100 billion market cap, DOGE holders will massively benefit. As of mid-June, only Bitcoin, Ethereum, and USDT, a stablecoin, have market caps exceeding $100 billion. Despite its sharp expansion, even Solana is still perched at fourth, boasting a slightly over $66 billion market cap. Aptos To Take Over From Solana: A Meme Coin Host While Hayes backed meme coins, he predicted that Aptos would flip Solana to become the second largest and most active layer-1 platform after Ethereum within three years. Interestingly, this clashes with the current trend and Hayes’ position. Related Reading: Cardano Founders Pig NIKE Sparks Memecoin Craze, Market Cap Nears $1 Million Because of Solana’s high scalability and low fees, the platform is emerging as a home of meme coins, taking over from Ethereum. Even so, Hayes didn’t provide any explanation, saying all details will be made public in September. Earlier on, the BitMEX co-founder downplayed the threat posed by Solana on Ethereum’s lead. In his view, the first smart contracts platform has strength in its developer community and anchors decentralized finance (DeFi). Feature image from DALLE, chart from TradingView

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Toncoin (TON) Hits New ATH, Is $10 The Next Stop?

Toncoin (TON), the native token of The Open Network, has had one of the best performances this cycle. The token has hit a new all-time high (ATH) twice this Friday and flipped Ethereums active users this week. Market watchers believe this breakout and recent performance could set the stage for a rally toward the $10 [...]

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