Toncoin Holds Above $3.50 And Waits For Its Bullish Rise
The price of Toncoin (TON) fell to $3.38 on February 3. The altcoin is currently in the oversold sector of the market after falling.
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The price of Toncoin (TON) fell to $3.38 on February 3. The altcoin is currently in the oversold sector of the market after falling.
Toncoin (TON), has made significant strides as a Layer-1, Ethereum-based altcoin. The token's market presence has been bolstered by notable investments, including backing from Pantera Capital, a prominent hedge fund and venture capital firm.
Steve Yun, founder of the TON-focused $100 million fund, TVM Ventures, is bullish on TON despite the Toncoin market cap dropping by 64% since April 2024.
With this move, TVM Ventures aims to invigorate TON, expanding the ecosystem to achieve the goal of building a financial system capable of supporting 500 million onchain users by 2028.
“[TON] can either pursue the path of reliance on L2s and side-chains or dedicate itself to its own chain," a foundation board member said.
Former TON Foundation President Steve Yun launched the fund to focus on investing in TON-based DeFi and PayFi startups.
Steady hike in the staking TVL in recent months showed that participants have not been withdrawing their assets to use them more actively for trading purposes.
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The Toncoin (TON) market has been facing increased volatility in recent months, especially following the arrest of Pavel Durov in August 2024. The event led to a mass sell-off, with investors parting ways with over 890,000 TON tokens.
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The Open Network faces a backlash following its January 21 announcement that requested all Telegram-based mini-apps to exclusively use TON's blockchain infrastructure by February 21, 2025. The changes have forced Farm Frens to delay its FREN airdrop to February after The Open Network and Telegram's “unreasonable deadlines” forced the team to adjust their roadmap.
Telegram has established TON as its exclusive blockchain partner for all cryptocurrency services and Mini Apps
While the broader cryptocurrency market appears to be gradually recovering, Toncoin (TON) has yet to join the upward trend. Over the past week, TON has faced significant challenges, seeing its price dip by 5.4%.
Since Pavel Durov's arrest in August, TON has experienced a significant sell-off in price and tokens, though signs of reversal are now emerging.
Following Pavel Durov's arrest, Toncoin has faced a 30% value decline, yet accumulation trends signal renewed investor confidence.
The altcoin industry has continued to bleed into the Bitcoin market again, as shown by the rising BTC dominance to nearly 60 percent. Toncoin (TON), the native coin for the Telegram-backed top-tier layer one (L1), has been bleeding profusely to Bitcoin for the past six months.
Toncoin's price crashed to a key support level as exchange balances and inflation rose, while its burn rate declined. Tonecoin (TON) fell to $4.80, its lowest level since Nov.
Toncoin, the native cryptocurrency of The Open Network (TON) blockchain, has seen a surge in exchange netflows, catching the attention of the market and prompting discussions about the implications for TON.
Toncoin (TON) is going through a clearly bearish phase with its price struggling to find new demand in the market.
Zodia Custody has integrated the TON blockchain's Jetton token standard, allowing institutions to hold native TON assets like Ston.fi's STON.
Cryptocurrency price analysis brought by Coinidol.com. The price of Toncoin (TON) has been falling as it has lost the critical support of $5.00.
With the Toncoin bulls aiming for a recovery rally, the growing supply hints at a potential trap. So, should you consider buying the recent dip in TON price amid breakout chances?
The TON Core team has unveiled its roadmap for the first half of 2025, outlining ambitious upgrades and new initiatives aimed at strengthening its ecosystem.
The market condition has once again turned bearish, causing most cryptos to witness price drops, and Toncoin (TON) isn't an exception. To be precise, the popular TON coin's value plummeted by over 4% in the last 24 hours, but these altcoins are doing well.