Rally

Waves

Toncoin

Billion

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/soaring-toncoin-garners-15-billion-market-cap-as-investors-rally" rel="noopener noreferrer nofollow">Soaring Toncoin Garners $15 Billion Market Cap as Investors Rally</a><br></p>
<p style="text-align: justify">The digital asset of the Telegram Open Network, Toncoin, has recently witnessed a remarkable surge, achieving an all-time high of $4.45—a 25% increase within a single day. The asset’s value now hovers around $4.31, pushing the overall market capitalization to the $15 billion mark. This bullish trend has been accompanied by an impressive 30% growth in transaction volume, totaling $354 million, signaling escalating investor confidence and interest in the <a href="https://en.bitcoinhaber.net/elon-musks-crypto-holdings-revealed-by-blockchain-firm" rel="noopener noreferrer nofollow">cryptocurrency</a>‘s potential.</p>
<h2 id="rising-confidence-and-financial-incentives">Rising Confidence and Financial Incentives</h2>
<p style="text-align: justify">TON’s value ascension appears to be driven by multiple factors, specifically the optimistic projection of its price path and the apparent link between its volatility and transaction volume. Adding to the momentum, Telegram’s announcement of sharing 50% of ad revenue with channel owners has piqued investor interest. The implementation of the Toncoin <a href="https://en.bitcoinhaber.net/manta-network-hit-by-ddos-attack-amid-token-listing-success" rel="noopener noreferrer nofollow">Blockchain</a> for revenue distribution offers a novel revenue model for channel owners on the platform.</p>
<p style="text-align: justify">The growth of the Toncoin ecosystem is further bolstered by internal initiatives, especially The Open League’s activities. TON Raffles, a part of this ecosystem, has seen a surge in user engagement and the total value of funds committed. The TON Foundation celebrated this success with an AirDrop, rewarding each TON Raffles token holder with one Toncoin, thereby amplifying the ecosystem’s vibrancy.</p>
<h2 id="whales-make-waves-in-ton-investment">Whales Make Waves in TON Investment</h2>
<p style="text-align: justify">Simultaneously, blockchain data provider Lookonchain detected substantial investment activity aligned with TON’s price rise. A transaction of note involved a whale investor exchanging roughly $858,000, or 214 <a href="https://en.bitcoinhaber.net/ethereum-etf-hurdles-with-the-sec-predicting-pushbacks" rel="noopener noreferrer nofollow">Ethereum</a>, for 209,237 TON—indicative of increasing confidence among larger-scale investors. This significant trade contributed to the cryptocurrency’s enhanced market valuation.</p>
<p style="text-align: justify">While a majority of TON holders are currently enjoying profits, especially in light of the 37% price hike, market dynamics warrant caution due to the possibility of profit-taking. Technical analysis suggests potential short-term retracements, targeting support levels at $2.6 and $2.38. Nevertheless, should the uptrend persist, the cryptocurrency may well set its sights on surmounting the $5.8 threshold.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/soaring-toncoin-garners-15-billion-market-cap-as-investors-rally" rel="noopener noreferrer nofollow">Soaring Toncoin Garners $15 Billion Market Cap as Investors Rally</a></h5>

Soaring Toncoin Garners $15 Billion Market Cap as Investors Rally

目錄

BH NEWS

在 2024年3月13日發表的其他文章

THORChain Price: Why is RUNE Price Rallying?

Binance Announced the Listing of a New Altcoin in Futures! Price is on the Rise!

Algorand (ALGO) Price Soars 71%: What Does It Mean for These 16 Million Investors?

Introducing ckSOL Through The Galactic Bridge – Presented by ICP.Hub Balkan

SendingNetwork Launches Testnet for Bandwidth Mining, Redefining Decentralized Communication Infr...

Experts Fuel Rising Expectations for Bitcoin’s Price Surge

訂閱免費電子報，每天收取加密貨幣最新動態！