2024

Toncoin

Million

Billion

<ul class="list-ic vertical">
 <li><span>1</span> <a>TON TVL has seen a rise from $30 Million to $300 Million within three months.</a></li>
 <li><span>2</span> <a>TON price has given a return of 3X in 2024 while increasing its market cap to new highs</a></li>
</ul>
<p>The Open Network (TON) is a <a href="https://www.thecoinrepublic.com/2024/02/23/decentralized-physical-infrastructure-network-a-complete-guide/" target="_blank" rel="noopener noreferrer nofollow">decentralized </a>and open internet created by the community using a technology designed by Telegram. It is a layer 1 network that is continued by the open-source community. TON can introduce crypto to the masses as it is extensively used within the Telegram network. Many analysts believe that the TON has the potential to bring millions of users to crypto.</p>
<p>Pantera Capital recently announced they will make their biggest investment in the TON. Meanwhile, Pavel Durov has recently made two appearances after maintaining a low profile for over a decade. Let’s have a look at the onchain analysis of The Open Network.</p>
<h2 class="wp-block-heading" id="strong-does-the-return-of-pavel-durov-pushing-ton-strong"><strong>Does The Return Of Pavel Durov Pushing TON?</strong></h2>
<p>TON is unlocking numerous ways for the Telegram community to monetize, share, and grow their businesses. Recently, Tether announced the deployment of its stablecoin, USDt, on the TON blockchain and in the Telegram Wallet. USDt on the network has reached over 200 Million in circulation. The scalability of the network allows for a fixed fee of $0.1 to transact between the two users. It is 66% cheaper than other platforms.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="364" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-328-1024x364.png" alt="" class="wp-image-206958" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-328-1024x364.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-328-300x107.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-328-768x273.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-328-750x267.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-328.png 1046w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
</div>
<p class="has-text-align-center">Source: TON TVL By Defillama</p>
<p>TON TVL has seen an exponential rise of 10x growth from MAR 2024 to MAY 2024. It has observed a rise from the low of $30 Million to the highs of $305 Million. The number of core developers on the platform is rising with the TVL.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img loading="lazy" decoding="async" width="845" height="412" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-329.png" alt="" class="wp-image-206959" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-329.png 845w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-329-300x146.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-329-768x374.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-329-750x366.png 750w" sizes="(max-width: 845px) 100vw, 845px">
 </figure>
</div>
<p class="has-text-align-center">Source: TON address by TONScan</p>
<p>TON’s total address has also seen substantial growth from 5 Million to 25 Million within a few months. The number of TON staked has observed an 8% surge in the last two weeks, while the staking APY has declined by 33% in this time frame. Let’s see how the price action scenario for the token price is working.</p>
<h3 class="wp-block-heading" id="strong-are-ton-price-bulls-aiming-for-10-strong"><strong>Are TON Price Bulls Aiming For $10?</strong></h3> !– TradingView Chart BEGIN –&gt; 
<p><a href="https://in.tradingview.com/chart/TONUSD/B5bEzYNy-</a> by <a href=" https: in.tradingview.com u ritika_tcr rel="noopener noreferrer nofollow">Ritika_TCR</a> on <a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow">TradingView.com</a></p> 
<p>Toncoin has a market cap of $22.14 Billion and is ranked 9th in the CMC. It has observed a drop of 54% in the trading volume in the intraday session. TON price has seen a rise of 3X in the past three months and is currently trading near $6.37.</p>
<p>The token price is currently forming consolidated candles on the daily chart. It is trading above the 50 and 200 EMA. The upside trend of TON can see a halt near the value of $8. Meanwhile, the support price can be seen near $4.</p>
<p>The RSI of TON is near 51, suggesting its presence in the neutral zone. The overall sentiment of the RSI and MACD is neutral in nature.</p>
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3>
<p>The Open Network platform has been seeing a solid rise in 2024. TON TVL, along with the users, has observed an exponential rise. Pantera Capital has also announced its biggest investment in TON. The TON token price is currently in a consolidated zone but can see a new high in the future.</p>

TON TVL Jumps By 10x and Price Surges By 3x; Is Pantera Capital Doing All?

Table of Contents

Thecoinrepublic.com

Other articles published on May 25, 2024

BlockDAG’s Global Domination Triggers an 800% Price Surge Amid Litecoin’s Price Drop & Uniswap’s ...

Unlock New Possibilities with MoonBag Presale: Bridging the Gaps of Toncoin and TRON

Congressional Allies Aid Coinbase in SEC Overreach Battle

ChatGPT Still Spreads Falsehoods, Says EU Data Watchdog

Benzinga Bulls And Bears: Nvidia, GameStop, Ethereum And Crypto Analyst Predicts Dogecoin Will Hi...

5 Negative Trends In EU Capital Market, Can Crypto Save The EU?

Join our free newsletter for daily crypto updates!