Toncoin Network Thrives Thanks to the Telegram Community
The TON ecosystem has experienced exponential growth recently, mainly thanks to the significant Telegram community. According to Defillama data, the TON network had a total locked value of about $152 million and a stablecoin market cap of around $1.01 billion at the time of writing.
Furthermore, CryptoRank data shows that the daily volume of Telegram gifts has seen a significant increase since the beginning of May, reaching $1.8 million two days ago. The majority of Telegram NFT volume came from the Tonnel and Fragment platforms.
Could TON Price Explode ?
Since its all-time high of around $8.25 on June 15, 2024, the TON price has been in correction mode. However, it has established a strong support level above $3.
According to crypto analyst Ali Martinez, the TON price is well positioned to experience at least a 47% increase if it breaks above the upper boundary in the coming days.
Indeed, the Bollinger FBB squeeze indicates an imminent massive move for TON. If the trend remains bullish for BTC, TON could potentially see a minimum 40% increase to $4.4. It could then push towards the next resistance zone at $4.7, offering a 47% increase.
The RSI in 2 and 4H showed an oversold level yesterday, which could propel TON towards a new rally if conditions allow.
Although the altcoin market, including Toncoin, experienced a slight correction in the last 24 hours, the short-term outlook remains positive for this asset. With strong technical support and a growing Telegram community, Toncoin seems well positioned to continue its upward trajectory in the coming weeks.
To purchase the token on Bitget, here is a quick and detailed guide:
- Create a Bitget account: Sign up on Bitget with your email or phone number, verify the code sent, and activate 2FA to secure your account.
- Verify your identity (KYC): Submit an ID document to complete the KYC verification, necessary for trading.
- Add funds: Deposit cryptos (USDT, BTC) or fiat via credit card (Visa, Mastercard) or bank transfer in “Deposit”.
- Access the market: Go to “Spot Market”, search for “TON”, and select the TON/USDT pair.
- Make the purchase: Choose a market order (immediate purchase) or limit order (set price), enter the quantity, and confirm.
