2024

Value

Bitcoin

Toncoin

Million

<img decoding="async" width="1242" height="828" src="https://coingape.com/wp-content/uploads/2024/05/IMG_9546.jpeg" class="attachment-full size-full wp-post-image" alt="Toncoin Price Analysis" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2024/05/IMG_9546.jpeg 1242w, https://coingape.com/wp-content/uploads/2024/05/IMG_9546-300x200.jpeg 300w, https://coingape.com/wp-content/uploads/2024/05/IMG_9546-1224x816.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/05/IMG_9546-768x512.jpeg 768w, https://coingape.com/wp-content/uploads/2024/05/IMG_9546-150x100.jpeg 150w, https://coingape.com/wp-content/uploads/2024/05/IMG_9546-272x182.jpeg 272w" sizes="(max-width: 1242px) 100vw, 1242px">
Toncoin Price Analysis: On the weekend, the cryptocurrency market remains neutral, projecting no clear dominance from buyers to sellers. Following the <a href="https://coingape.com/spot-bitcoin-etf-shift-trading-patterns-volatility-sees-notable-decline/">Bitcoin</a> consolidation over $60000 support, most major altcoins showcase sluggish price behaviors the whole week waiting for a better reversal signal. Amid the uncertainty, the TON price trades on a slightly positive note attempting a breakout from the $7.6 resistance to regain bullish momentum. 
Also Read: <a href="https://coingape.com/bitcoin-in-spotlight-with-michael-dell-latest-poll-is-dell-going-big-on-btc/">Bitcoin In Spotlight With Michael Dell’s Latest Poll, Is Dell Going Big On BTC?</a> 
<h2 id="b-toncoin-price-analysis-ton-sees-113-tvl-growth-and-key-regulatory-approval-b">Toncoin Price Analysis: TON Sees 113% TVL Growth and Key Regulatory Approval</h2> 
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 Toncoin Price Analysis| Tradingview
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Despite the June market downturn, <a href="https://coingape.com/markets/toncoin-price-analysis-usdt-circulation-tons-bullish-outlook-high/">Toncoin</a> maintained its bullish momentum, rising from a monthly low of $6.275 to a trading price of $7.68, registering a 22.5% increase. This rally was driven by a surge in network activity, broader adoption, and the introduction of Play-to-Earn games on Telegram, all of which played crucial roles in its recovery. 
Recently, the Astana Financial Services Authority (<a rel="nofollow" href="https://x.com/AFSA_KZ/status/1806556408650903973">AFSA</a>) has officially approved Toncoin (TON) for trading in Kazakhstan, following a comprehensive review that confirmed its compliance with regulatory standards.&nbsp; 
This inclusion is expected to attract a new wave of institutional and retail investors, providing them with secure and transparent trading options within the regulated environment of the AIFC. 
In a recent tweet, renowned trader Alicharts highlighted a surge in Toncoin investments, revealing that whales have purchased over 45 million TON valued at around $346.5 million over the past week. This accumulation accentuates strong investor confidence in the future potential of this asset. 
<blockquote class="twitter-tweet"> 
 Whales have bought more than 45 million <a rel="nofollow" href="https://twitter.com/hashtag/Toncoin?src=hash&amp;ref_src=twsrc%5Etfw">#Toncoin</a> <a rel="nofollow" href="https://twitter.com/search?q=%24TON&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TON</a> over the past week, worth around $346.5 million! <a rel="nofollow" href="https://t.co/P3UKHHjHcU">pic.twitter.com/P3UKHHjHcU</a> 
 — Ali (@ali_charts) <a rel="nofollow" href="https://twitter.com/ali_charts/status/1807407759849132080?ref_src=twsrc%5Etfw">June 30, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<blockquote>
 By press time, the Toncoin trades at $7.66 and maintains its position as the eighth largest cryptocurrency with a market cap of $18.84 Billion.
</blockquote> 
Additionally, the Total Value Locked (TVL) on the Toncoin Network has continued to expand, reaching $700 million on Sunday, according to DefiLlama data. With a substantial 113.41% increase in TVL in June, the network demonstrates robust growth and increasing adoption among market participants. 
<img decoding="async" class="aligncenter size-full wp-image-205181" src="https://coingape.com/wp-content/uploads/2024/06/image_2024-06-30_19-32-48.png" alt="Total Value Locked " width="1519" height="650" srcset="https://coingape.com/wp-content/uploads/2024/06/image_2024-06-30_19-32-48.png 1519w, https://coingape.com/wp-content/uploads/2024/06/image_2024-06-30_19-32-48-300x128.png 300w, https://coingape.com/wp-content/uploads/2024/06/image_2024-06-30_19-32-48-1224x524.png 1224w, https://coingape.com/wp-content/uploads/2024/06/image_2024-06-30_19-32-48-768x329.png 768w, https://coingape.com/wp-content/uploads/2024/06/image_2024-06-30_19-32-48-150x64.png 150w" sizes="(max-width: 1519px) 100vw, 1519px"> 
With a modest intraday gain of 1.4%, the <a href="https://coingape.com/blog/top-reasons-toncoin-ton-price-might-hit-10-in-july-2024/">TON price</a> is heading high to soon challenge immediate resistance of $7.86.&nbsp; 
If buyers flip the overhead resistance into suitable support, the Toncoin could surpass $8.28 and target the $9 mark, followed by $10.5. 
However, if the market supply pressure persists, the TON price could plunge 4-.5% and seek support at the ascending trendline since mid-March. The dynamic support bolsters buyers with suitable accumulation points and stable higher-low formation. 
<h2 id="b-technical-indicator-b">Technical Indicator&nbsp;</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">EMA: The coin price trading above the fast-moving 20D and 50D <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">Exponential Moving Averages</a> indicates the buyers are still active toward the asset.&nbsp;</li> 
 <li style="font-weight: 400;" aria-level="1">ADX: The Average Directional Index slope falls to 11.5% indicating the ongoing consolidation has stabilized the price after the last rally, which is favorable for a fresh recovery trend.</li> 
</ul> 
The post <a href="https://coingape.com/markets/toncoin-price-analysis-can-ton-700-million-tvl-high/">Toncoin Price Analysis: Can TON Leverage $700 Million TVL To Hit New High?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Toncoin Price Analysis: Can TON Leverage $700 Million TVL To Hit New High?

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