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CATEGORY: toncoin analysis


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

Author: Sebastian Villafuerte
United Kingdom
Aug 28, 2024 12:05

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

Jun 18, 2024 12:05

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

 Toncoin price risks correction after TONs 34% surge in 2 weeks

Author: Cointelegraph by Yashu Gola
United States
Jun 15, 2024 12:00

Toncoin price risks correction after TONs 34% surge in 2 weeks

The bullish scenario has TONs price rallying 65% in July if the classic bullish continuation breakout setup plays out.

Jun 12, 2024 05:50

Toncoin (TON) Flips Ethereum In Daily Active Users, Fueling $10 Price Target Predictions

Toncoin (TON), the native token of The Open Network, experienced a 12% price drop from its recent all-time high of $7.76 over the past week, following the overall market correction led by Bitcoin (BTC).  However, despite the temporary setback, the optimistic sentiment surrounding TON and its network has led crypto analysts to speculate on a [...]

The post Toncoin (TON) Flips Ethereum In Daily Active Users, Fueling $10 Price Target Predictions appeared first on Crypto Breaking News.

Apr 20, 2024 12:05

Toncoin Price Jumps 17% As Tether Widens Payment Choices On Telegrams TON Network

Tether, the company behind the largest stablecoin in the market, USDT, has made a significant expansion move that has propelled the Toncoin price, the native token of The Open Network (TON), by 17% in the past 24 hours.  Tether Expands Reach To 15 Blockchains On Friday, Tether announced the launch of its USDT dollar-pegged token and Tether Gold (XAUT), a gold-backed digital token, on The Open Network. This development marks a significant move for Tether, expanding its presence to 15 blockchains.  The integration of TON with Telegram, which boasts over 900 million global users, is expected to provide a seamless and borderless experience for peer-to-peer (P2P) payments within Telegram’s user base. With the introduction of USDT and XAUT on TON, Tether aims to facilitate the easy transfer of value between users in the TON ecosystem and other blockchain networks while increasing the transfer speed and reducing costs.  Related Reading: Analyst Forecast: Litecoin Poised For $250-$300, But Can It Hold? Paolo Ardoino, CEO at Tether, expressed excitement about the launch, emphasizing their support for The Open Network’s vision of an open and decentralized internet. Ardoino stated: Were excited to bring USD and XAU to The Open Network because we support its vision of an open and decentralized internet and a borderless financial system. The launch of USD and XAU on TON will allow seamless value transfer, increasing activity and liquidity while offering users a financial experience that can match those found in the traditional financial system. This furthers our mission of powering open financial infrastructure across the blockchain space. 11 Million TON Tokens To Drive Adoption Of USDT, XAUT Meanwhile, The Open Network claims to “revolutionize” global peer-to-peer payments, allowing Telegram users to send money instantly without needing a blockchain address or downloading a new app.  Notably, USDT on TON will be complemented by fully integrated on-ramps supporting most fiat currencies globally. Additionally, integrated global off-ramps will facilitate users’ withdrawal of supported fiat currencies directly to their bank accounts or cards. The TON Foundation has allocated 11 million TON tokens as incentives to drive adoption. Five million TON will be utilized to boost rewards in USDT/TON liquidity pools across TON decentralized exchanges (DEXes) like StonFi and Dedust.  Another 5 million TON will be distributed to users who deposit USDT to the Earn campaign of Telegram’s wallet. Furthermore, withdrawals to TON from supporting exchanges such as OKEx, Bybit, and KuCoin will be free for all users until the end of June 2024. Related Reading: Bitcoin Halving Could Catalyzed $100,000 Price Surge: Bitwise CEO Ultimately, the introduction of USDT and XAUT on TON, coupled with the incentives provided, is expected to accelerate the adoption of TON and establish it as a “faster, easier and more cost-effective” cross-border payment system compared to traditional financial services, according to The Open Network’s announcement.   Toncoin Price Rallies Following the disclosure of the partnership, the Toncoin price surged, reaching a high of $8.02 on Friday. This marked the end of a sharp decline over the past week since the token achieved its all-time high (ATH) of $8.79 on April 11. After reaching the new ATH, the Toncoin price dropped to a low of $5.42 on Saturday, April 13. However, with the recent partnership announcement, the Toncoin price has regained its bullish momentum and is currently trading at $6.59.  It aims to surpass the price resistance level of $7.70, which will pave the way for reaching and surpassing the $8 mark. This would provide a favorable trajectory for the Toncoin price to conquer and exceed its current ATH. Featured image from Shutterstock, chart from TradingView.com

Mar 05, 2024 05:55

Telegram CEO Responds To Concerns, Offers Solution To Restrict Companys TON Stake To 10%

The popular messaging platform Telegram has revealed its plans to sell its surplus holdings of The Open Network (TON) tokens at below-market prices. This move comes after concerns were raised about the potential centralization of TON supply due to ad payments being exclusively accepted in TON tokens.  Telegram Addresses Concentration Concerns As NewsBTC reported on [...]

The post Telegram CEO Responds To Concerns, Offers Solution To Restrict Companys TON Stake To 10% appeared first on Crypto Breaking News.

Feb 29, 2024 12:05

TON Skyrockets 25% As Telegram Unveils New Revenue Sharing Feature, Crossing $3 Mark

In a notable development for the cryptocurrency world, Telegram, the popular social media platform, has introduced an ad revenue-sharing system for channel owners on its native blockchain TON. This move has resulted in a significant 25% price spike for TON, surpassing the $3,016 mark. Previously known as Gram, TON is the native cryptocurrency of The Open Network (TON), a decentralized Layer 1 (L1) protocol. With the introduction of this new feature, Telegram aims to create a mutually beneficial ecosystem where channel owners can be financially rewarded for their efforts. Telegram Introduces TON For Channel Monetization According to Pavel Durov, CEO of Telegram, channel owners on the platform will be able to receive financial compensation starting next month. This announcement has generated considerable excitement among content creators eagerly awaiting an opportunity to monetize their channels. With a significant one trillion monthly views generated by broadcast channels on Telegram, the potential for revenue generation is immense, Durov believes. However, only 10% of these views are monetized using Telegram Ads, a privacy-focused promotion tool. Related Reading: BREAKING: Bitcoin Price Smashes Above $60,000: Are New ATHs Ahead? Telegram’s ad platform will be available to advertisers in nearly one hundred new countries in March. This expansion will allow channel owners in these countries to receive 50% of the revenue generated from ads displayed on their channels, incentivizing content creators and driving the growth of Telegram’s ad ecosystem. Telegram CEO Durov further noted:  To ensure ad payments and withdrawals are fast and secure, we will exclusively use the TON blockchain. Similar to our approach with Telegram usernames on Fragment, we will sell ads and share revenue with channel owners in Toncoin. This will create a virtuous circle, in which content creators will be able to either cash out their Toncoins or reinvest them in promoting and upgrading their channels As announced, all transactions, including payments and withdrawals, will be settled on the TON blockchain, built by the same company that created Telegram, which reported 800 million monthly users as of July 2023. TON Bullish Momentum Points Towards Potential New ATH When the announcement was made in the early hours of Wednesday morning, TON experienced a significant spike, sending its price as high as $3.172. This level had not been seen since November 2023, when the token hit its all-time high (ATH) of $3.215. The current bullish sentiment surrounding TON, coupled with the potential for wider adoption and use, suggests the possibility of a new ATH shortly. This is further supported by the overall market entering an aggressive bullish phase. Related Reading: Ethereum Price Primed To Hit $3.5K After Bitcoin Rallies Past $60K Despite the volatility exhibited by TON, as seen on the weekly TON/USD chart, there are no significant resistance levels ahead. Therefore, the outcome of a potential new ATH depends on the ability to sustain the current bullish trend. Featured image from Shutterstock, chart from TradingView.com

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