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<p dir="ltr">The broader crypto ecosystem suffered a steady sell-off in Bitcoin’s price, which also<a href="https://coinmarketcap.com/currencies/toncoin/" rel="noopener noreferrer nofollow">fueled</a> a slip in altcoins like Toncoin (TON). While different altcoins suffered varying sell-offs, Toncoin fell by more than 4% in 24 hours to $6.52. Amid the sell-off, the coin dropped as low as $6.32 before cresting at the current level.</p>
<h2 id="toncoin-volume-to-rescue">Toncoin volume to rescue</h2>
<p dir="ltr">Within the same period, Toncoin saw a massive surge in its daily trading volume, indicating sustained interest among buyers. Per data from CoinMarketCap, this performance metric rallied by over 31.64% to $344.87 million.</p>
<p dir="ltr">For reference, some digital currencies suffered a drawdown in volume as the broader market saw more than $447 million in liquidations. With Toncoin, the impact of this trading volume is impressive as it implies the influx of this liquidity that can eventually stabilize prices.</p>
<p dir="ltr">Toncoin has struggled over the past month, as it has lost its place in the top 10 list of the most advanced coins. However,<a href="https://u.today/toncoin-ton-whales-wake-up-move-79-billion-in-24-hours" rel="noopener noreferrer nofollow">TON whales</a> have remained active over the same period, helping to boost the coin's price.</p>
<p dir="ltr">TON remains an active layer-1 blockchain, powering the growing list of Telegram-based dApps.</p>
<h2 id="how-high-will-ton-soar">How high will TON soar?</h2>
<p dir="ltr">With the trading volume boost, the price of TON is now in recovery mode.</p>
<p dir="ltr">Riding on its correlation with Bitcoin, TON’s price might have hit its temporary floor price. Bitcoin is retesting the $100,000 benchmark following the update that MicroStrategy has<a href="https://u.today/microstrategy-announces-gigantic-21-billion-bitcoin-purchase" rel="noopener noreferrer nofollow">acquired</a> another 21,550 BTC for $2.1 billion, raising its total stash to 423,650 BTC.</p>
<p dir="ltr">The top coin is known for wielding its bullish rally on altcoins, and TON has the on-chain boost to ride the ongoing price rally. With the renewed uptrend, the coin is likely to retest its 30-day high of $7.20 as it looks to retest its previous all-time high (ATH) of $8.24 that it attained six months ago.</p> <a href="https://u.today/toncoin-volume-skyrockets-29-whats-next-for-ton" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

Toncoin Volume Skyrockets 29%, What's Next for TON?

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