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Toncoin Unleashes DeFi Monster Growth: TVL Soars 300% In A Month

Toncoin, of the TON network, has captured the attention of the cryptocurrency community as its Total Value Locked (TVL) surpasses a staggering $148 million, marking a historic milestone. This meteoric rise, reported by DefiLlama, showcases an almost threefold increase in just one month and a jaw-dropping tenfold surge over the course of a year. As of the latest update, TON’s TVL stands firm at slightly over $146 million, underscoring its growing prominence in the decentralized finance (DeFi) landscape.

Unprecedented Growth And Leading Projects

Within the TON ecosystem, standout performers in TVL include the Tonstakers liquid staking protocol and the STON.fi decentralized exchange. Together, these projects boast a combined total value of locked assets exceeding $283 million.

Toncoin Surges As Market Dynamics Shift

Amidst the flurry of activity, Toncoin emerges as the darling of the crypto market, experiencing a remarkable surge in value. Over the past month, Toncoin has skyrocketed by over 60%, propelling it to new all-time highs multiple times throughout April. Currently trading at around $6.25, Toncoin’s ascent shows no signs of slowing down.

Speculation And Partnership Buzz

Fueling Toncoin’s ascent are rumors swirling within the crypto community regarding a potential partnership between the TON Society developer community and HumanCode, an AI development firm. While details remain scarce, speculation abounds, with many anticipating a major announcement that could further propel Toncoin’s price up.

Toncoin Overtakes Cardano in Market Capitalization

Meanwhile, Toncoin has surpassed Cardano (ADA) in market capitalization, firmly establishing itself as a force to be reckoned with in the crypto market. With a market capitalization of over $22 billion, Toncoin now holds the coveted 8th position, relegating Cardano to the 11th spot.

Market Analysis And Price Consolidation

Despite its meteoric rise, Toncoin is currently navigating a period of consolidation, with traders and analysts closely monitoring key price levels and volume dynamics. As the cryptocurrency hovers between $6.50 and $6.75, both bulls and bears are poised for potential shifts in market sentiment. Crypto trader Paxton emphasizes the importance of volume in determining Toncoin’s trajectory, urging caution amidst the market’s ebbs and flows.

Related Reading: Historical Data Sparks Excitement: VeChain Price Poised For A Bullish Breakout?

As the TON network continues to defy expectations and Toncoin reaches unprecedented heights, all eyes remain fixed on this thriving ecosystem. With its innovative projects, strategic partnerships, and surging value, TON is poised to reshape the future of decentralized finance and redefine the possibilities of the crypto market.

Featured image from Amazon, chart from TradingView

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Toncoin Defies Market Turmoil, Surges 25% To Tally All-Time High – Details

Toncoin (TON) has defied recent market turbulence, reaching a new milestone with its price surging to an all-time high of $7.0. This nearly 25% increase has propelled Toncoin to become the eighth largest cryptocurrency by market cap, surpassing Dogecoin (DOGE) with a market cap of nearly $25 billion.

Toncoin: Powered By Strategic Partnership

Toncoin’s recent momentum can be attributed in part to its partnership with HashKey, which has bolstered investor confidence. Since March, Toncoin has sustained considerable momentum, witnessing a surge of approximately 35% in the past week and a remarkable 136% increase over the past month.

Technical Indicators Signal Potential Growth

Technical analysis indicates a bullish trajectory for Toncoin, with its price following an ascending channel pattern. Despite brief downward movements, strong buying activity near the support line suggests resilience among investors.

Analysts predict a potential breakthrough of the $7.50 resistance line, potentially paving the way for a rally towards $10. Both moving averages are trending upwards, and the Relative Strength Index (RSI) remains positive, signaling favorable conditions for buyers.

Toncoin has had a significant and rapid increase in value since the beginning of the year. The year-to-date (YTD) growth of this entity stands at 205%, surpassing the growth of Bitcoin (BTC) which is recorded at 57%.

Catalysts Behind TON’s Growth

There are numerous driving forces behind Toncoin’s explosive growth. Its distinct technology aids in the scalability of decentralized services constructed upon it, and its tight relationship with Telegram serves as an additional catalyst for its expansion.

All told, the Toncoin ecosystem is home to a large number of aspirational users who have contributed to the development of a tight-knit community that powers and encourages network innovations.

Telegram’s Influence Adds Momentum

The influence of messaging app Telegram has also contributed to Toncoin’s momentum. Rumors of Telegram’s impending IPO and plans to integrate Toncoin into its platform have heightened investor optimism.

Telegram’s CEO, Pavel Durov, recently disclosed the company’s receipt of offers totaling $30 billion, further fueling excitement. Additionally, Telegram’s decision to introduce advertisements within its channels, with rewards distributed in Toncoin, underscores the platform’s commitment to cryptocurrency integration.

Toncoin’s surge represents a significant development in the cryptocurrency landscape. As the cryptocurrency continues to challenge established players and forge strategic partnerships, investors are reminded of the inherent volatility in the market.

Even though Toncoin’s present path looks good, it is still important to be careful with risks. As people keep an eye on what’s going on, Toncoin’s path to continued growth stays a central issue in the world of digital assets, which is always changing.

Featured image from Pexels, chart from TradingView

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“Where It Should Be”: Crypto Analyst Remains Firm On $1.7 Prediction For Cardano (ADA)

Investors and analysts are trying to predict Cardano’s (ADA) price’s future performance. As the price continues to show red numbers, a top crypto analyst considers that ADA is “right where it should be.”

Cardano Loses 10th Spot Against Telegram’s Toncoin

Cardano’s recent spotlight has highlighted its disappointing price performance and lack of appeal for traders. Despite its technology and strong community, the ecosystem lacks the activity and demand of other chains like Solana.

Recently, Charles Hoskinson defended the project, stating that “Cardano always wins,” referencing a poll ranking the best Layer-1 networks. Moreover, Hoskinson took another jab at Solana’s network problem after its recent transaction failure rate reached 75%.

Nonetheless, on Tuesday, ADA lost its spot in the top ten cryptocurrencies after being flipped by Toncoin (TON). According to CoinGecko data, Cardano’s market capitalization of $20.1 billion was surpassed by TON’s $23.3 billion market cap. As a result, ADA’s spot as the 10th largest cryptocurrency by this metric was taken by TON.

Cardano, ADA, Toncoin, TON, Dogecoin, DOGE

Per CoinMarketCap data, ADA remains in the top ten cryptocurrencies, ranking ninth on the website’s list before being flipped.

ADA Is “Where It Should Be”

Last week, crypto analyst Ali Martinez revealed that ADA’s whale activity was “experiencing a lull.”  To the analyst, whether this was a signal of further price consolidation or a drop remained to be seen.

Some believe that TON’s overtaking of Cardano’s place on the list highlights some of the ecosystem’s problems. Martinez reiterated his prediction made around the time Bitcoin registered its latest all-time high (ATH) of $73,373. At the time, the analyst considered that ADA resembled the pattern observed from 2018 to 2021.

During the period observed by Martinez, Cardano’s token went through a long consolidation period, with the price hovering between $0.026 and $0.082. After breaking out of this resistance level, ADA’s price surged to $0.35 in the following weeks before continuing its upward trajectory to its ATH of $3.09.

According to the analyst, if that fractal continued during the following weeks, investors should “anticipate ADA consolidating in the $0.55 to $0.80 range. This would be followed by a surge to the $1.7 support level.

After another consolidation period, the stage would be set for the token’s price to “breakout to $5,” the analyst considered.

cardano ada adausdt

Almost a month later, the analyst considers that “nothing has changed for Cardano.” Martinez reaffirmed the price consolidation between the $0.55-$0.80 range and subsequent breakout, as “ADA is exactly where it should be.”

Despite the analyst’s optimistic forecast, ADA’s price of $0.5762 remains 81.5% below its 2021 ATH. At writing time, the token dropped 5.4% from the previous day. Additionally, its performance has decreased by 3.6% and 22.3% in the weekly and monthly timeframes.

However, the token’s market activity has surged 6.6% in the last 24 hours, with a daily trading volume of $502.1 million.

ADA, ADAUSDT, CArdano

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Eyes On Toncoin: Speculation Rises After 40% Weekly Surge – What Comes Next?

Toncoin (TON) has been on a hot streak, surging double digits in the past 24 hours and boasting a 40% gain in the last week. This bullish run coincides with the launch of the Ton Foundation’s Open League initiative, a program designed to incentivize user and project participation on the TON blockchain.

The price currently sits at $4.96, having reached a new cycle high of $5.28 on March 23rd. This surge comes amidst a broader market downturn for major cryptocurrencies, making TON a standout performer.

TON’s Open League Sparks Bullish Momentum

The Open League, announced on March 20th, promises to distribute a hefty 30 million TON tokens (roughly $115 million) to participants. This sizeable reward pool has ignited excitement within the TON community, attracting new projects and users to the network. But can this momentum be sustained? Analysts are cautiously optimistic.

Technical analysis paints a promising picture for TON. The Awesome Oscillator, a tool measuring market trends and momentum, displays a series of green bars, indicating a rise in bullish sentiment.

Additionally, the Chaikin Money Flow (CMF) – a gauge of buying and selling pressure – has trended upwards, suggesting a healthy inflow of liquidity.

Adding to the optimism, crypto prediction platform CoinCodex forecasts a price of $6.45 for TON by March 29th, translating to a potential 30% increase within the next five days. Toncoin’s medium-term outlook also appears strong, with a 120% gain observed in the last quarter.

Toncoin: Bullish Momentum Analysis

However, despite the positive indicators, cryptocurrency markets are known for their volatility. While the Open League undoubtedly injects excitement into the TON ecosystem, it’s crucial to acknowledge the possibility of a price correction.

The current RSI and MFI readings could be interpreted as nearing overbought territory, potentially signaling a temporary pullback.

Investors should delve deeper before making any investment decisions. The broader cryptocurrency market can significantly impact TON’s price. A sustained downturn in the industry could dampen TON’s rally.

Additionally, the long-term viability of TON hinges on the success of its ongoing development projects. Evaluating the roadmap and progress can provide valuable insights.

Finally, staying informed about potential regulatory changes within the cryptocurrency space is crucial, as they could impact TON’s adoption and price.

Featured image from Pexels, chart from TradingView

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Toncoin Shows Resiliency With 20% Climb – Will TON Hit $3 This Weekend?

Toncoin has seen a noteworthy 20% price increase over the past week, rising from $1.75 on September 9 to $1.95 on September 15, 2023. With a current market valuation of $6.72 billion, this rise has elevated the altcoin to the No. 22 position.

Within the cryptocurrency arena, there’s an unmistakable buzz among market participants as they eagerly seek out the next standout digital asset. This quest is leading to a fascinating shift in the top 20 rankings, as a fresh wave of cryptocurrencies enters the fray.

While established tokens appear to be caught in a somewhat static trading pattern, a select group of digital currencies is demonstrating remarkable resilience and assertiveness, positioning themselves as formidable contenders capable of potentially supplanting their more renowned counterparts.

Notably, Toncoin (TON) has emerged as a front-runner in this battle for prominence, boasting a noteworthy surge of over 50% in value over the last 30 days.

Increased Momentum For Toncoin 

The significant price increase in such a short period of time implies increased momentum and interest in this coin. If Toncoin can sustain its steady ascent, it should be able to hit the vaunted $3 mark this weekend or in the coming days.

Meanwhile, the current market sentiment is predominantly bearish, marked by a general consolidation within a constrained price range. Recent price declines have somewhat subdued earlier optimism.

However, Toncoin has managed to attract positive attention in the face of these conditions. It’s worth noting that there might be a short-lived negative correction anticipated after the coin breached the $2 mark.

At the time of writing, TON was trading at $2.14, up 12% in the last 24 hours and climbed by an impressive 20% in the last seven days, data from crypto market tracker Coingecko shows.

A notable factor contributing to Toncoin’s price surge is its remarkable trading volume. In the last 24 hours alone, Toncoin recorded a trading volume of $27 million, surpassing its 20-day average volume of $19 million by a significant margin.

TON Banks On Increased Trading Volume

An increase in trade volume is indicative of growing interest in and use of a cryptocurrency. The increased number of TON buyers and sellers has led to better market transparency and more efficient price formation. Recent high trading volume has provided the necessary impetus to drive the token’s price higher.

On September 14, the Toncoin Foundation and Telegram jointly announced the introduction of TON Space, a novel cryptocurrency wallet designed specifically for Telegram users. TON Space facilitates connectivity to The Open Network ecosystem, which is overseen by the native token of Toncoin.

With this move, Telegram hopes to add more than 30% of its users by 2028. It’s interesting that around 700 million people use the leading messaging app for cryptocurrency fans every month.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from GetBlock.net

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TON Jumps By Nearly 8% Following Wallet Integration On Telegram

Telegram Messenger has unveiled a self-custodial crypto wallet for its more than 800 million active users worldwide. This move comes almost three years after the popular messaging platform initially revealed its plans to delve into the Web3 space.

The crypto wallet is built on The Open Network (TON) and will be accessible via settings on Telegram’s messaging app. On the back of this announcement, the price of Toncoin (TON’s native token) surged by almost 8%.

Telegram Finally Integrates Crypto Wallet On Messaging Platform

On Wednesday, September 13, The Open Network announced the partnership with Telegram at the Token2049 event in Singapore. This collaboration will provide the messaging platform’s 800 million users access to a self-custodial crypto wallet.

As part of the integration, projects built on the TON blockchain will receive priority access to Telegram Ads, the app’s advertising platform. This was confirmed via an X (formerly Twitter) post by Anthony Tsivarev, Director of Developer Relations at TON.

John Hyman, Telegram’s Chief Investment Officer, commented on this development:

Telegram’s mission has always been to enable freedom of speech, but speech is so much more in this digital age. We believe users have the right to own their identities and assets. With TON Space, users now have the technology to make that convenient. With this announcement, we are putting digital ownership rights in the hands of our entire user base. While also giving TON projects the tools to reach our audience in the largest Web3/Web2 integration there has ever been.

Telegram initiated plans to build a Web3 ecosystem as far back as 2019. Unfortunately, the messaging platform had to cool off its initiative with The Open Network in 2020 due to a lawsuit from the United States Securities and Exchange Commission (SEC).

In 2019, the SEC filed a lawsuit against Telegram for raising $1.7 billion through the initial coin offering (ICO) of a token (called Grams), which the regulatory body deemed as an unregistered security. The messaging platform resolved this issue by paying an $18.5 million fine and returning unused investor funds.

TON Maintains Positive Momentum – Price Overview

In the wake of this announcement, Toncoin registered a nearly 8% price spike. The cryptocurrency currently sits as one of the top gainers in the market today, with a substantial 13% price increase in the last 24 hours.

Interestingly, this latest price movement only underscores the token’s market performance in recent weeks. According to data from CoinGecko, the price of TON has soared by more than 36% in the past month.

This positive performance is even more impressive, considering the sluggish condition of the cryptocurrency market in the past few weeks. Most top altcoins, including ETH, XRP, and SOL, have been struggling due to the current market sentiment.

While the TON token is currently valued at $1.94, seeing if this latest burst of positivity can drive the cryptocurrency above $2 would be interesting.

Nevertheless, Toncoin ranks as the 12th-largest cryptocurrency, with a market cap of roughly $6.68 billion.

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