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 [...]

The post PolitiFi Memecoin Shakeout: BODEN Plummets 55% While KAMA Skyrockets 150% Following Biden Dropout appeared first on Crypto Breaking News.

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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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Potential Downtrend In Play? TON Struggles As Price Falls Below $7.7

TON has experienced a dramatic price shift, falling below $7.7 three days after reaching an all-time high of $8.2. This sudden decline has caught the attention of investors and market analysts, raising concerns and sparking discussions about the potential implications of this sharp reversal.  It also follows a period of intense volatility and highlights the unpredictable nature of the cryptocurrency market. With TON’s price trajectory undergoing significant fluctuations, it’s essential to examine the factors contributing to this downturn and explore what this could mean for the future of TON and its investors.  This article delves into an analysis of the recent price movements and potential outcomes of TON’s sudden drop after setting a record high. As of the time of writing, TON has a market capitalization of over $18 billion, a trading volume of over $472 million, and a price drop of 4.03%, trading at around $7.3 over the past 24 hours. Despite a decline of  5.77% in market capitalization, the trading volume for TON is up by 40.90%. Market Volatility And Recent Price Movements For TON On the 4-hour chart, TON is currently attempting a break below the 100-day Simple Moving Average (SMA) after it has successfully broken the $7.7 support mark. A careful examination of the 4-hour Composite Trend Oscillator indicator suggests that TON may actively go bearish as the signal line and the SMA of the indicator are attempting to cross below the zero line. Meanwhile, on the 1-day chart, TON’s price is currently declining toward the $6.7 support mark. It can be observed here that after TON hit its all-time high of $8.2, the crypto asset has been dropping down with strong bearish momentum candlesticks. Additionally, the signal line and SMA of the Composite trend oscillator indicator on the 1-day chart are currently trending in the overbought section, with the signal line attempting a cross below the SMA,  indicating a bearish move could be on the horizon. Thus from the 4-hour and 1-day price actions and formation of the indicator used for this analysis, it can be suggested that the price of TON may actively go bearish.  Technical Analysis: Key Support And Resistance Levels TON’s abrupt fall below $7.7 after reaching an all-time high of $8.2 underscores the inherent volatility and unpredictability of the cryptocurrency market. Consequently, if the price of TON continues to move downward below the 100-day SMA toward the $6.7 support level and breaks below it, it may decline further to challenge the $6.05 support level. However, if TON’s price fails to break below the $6.7 support mark, it will begin to ascend toward the $7.7 resistance level again. TON could ascend further to challenge the $8.2 resistance mark and possibly move on to set a new high if this level is breached. Featured image from Adobe Stock, chart from Tradingview.com

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TON Blockchains TVL Skyrockets 100% In Record Time, Analysts Bullish On Next Price Targets

Toncoin, the native cryptocurrency of The Open Network (TON) blockchain, has recently experienced notable price appreciation and rapid growth in its ecosystem. After a period of consolidation between $1 and $2 since 2022, TON’s price has surged to reach a record high of $8.25 on June 15.  This achievement is accompanied by a significant increase in the TON blockchain’s Total Value Locked (TVL), doubling from $300 million. TON Blockchain’s TVL Hits $600 Million According to technical analyst Kyle Doops, the TON blockchain’s TVL has experienced an unprecedented surge, reaching $608.65 million and doubling its value within three weeks.  For Doops, this increase can be attributed to TON’s integration with Telegram, leveraging its broad consumer base of over 900 million users. Furthermore, protocols such as DeDust, bemo, and Stakee have seen significant increases in their TVL, contributing to the growth of the TON ecosystem. Related Reading: This Altcoin Gem Will Overtake Solana, Predicts Arthur Hayes As reported by NewsBTC, Telegram introduced a new advertising feature allowing users to promote their channels through ad placements. To facilitate fast and secure ad payments and withdrawals, Telegram CEO Pavel Durov has exclusively chosen the TON blockchain.  Pavel explained that users can now purchase ad space with Toncoins, and revenue generated from ads will be shared with channel owners in Toncoin. According to the social media platform’s CEO, this approach creates a “virtuous cycle,” allowing content creators to reinvest revenue into channel promotion and upgrades. In addition, daily active wallets on the TON network have reached over 388,000, with monthly active wallets surpassing 5.5 million. Crypto researcher Leon Waidmann notes that TON’s increase in active wallets surpasses even Coinbase’s Layer 2 (L2) BASE, setting a new standard for growth and adoption in the crypto industry. Analyst Forecasts 40% Potential Breakout For Toncoin Although TON has experienced a slight decline of 1.2% over the past 24 hours, trading volume has increased by 22%, indicating strong investor interest in the token, according to CoinGecko data.  Despite short-term corrections, TON has shown significant gains over various time frames, with increases of 11%, 18%, and 22% over the past seven, fourteen, and thirty days, respectively. Related Reading: Metrics Signal Bitcoin Price Increase But When Is Anyones Guess In a bullish projection for the Toncoin price, crypto analyst Ali Martinez suggests that TON may be gearing up for a potential 40% breakout, targeting a price of $11.  Nevertheless, the analyst added that the TD Sequential indicator suggests a potential dip to $7.2 to gather liquidity before an upside move. In the near term, key support levels include $7.78, which has prevented a deeper retracement for the token and the $8.17 resistance. Featured image from DALL-E, chart from TradingView.com

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