Momentum

<ul> 
 <li><strong>TON trading volume has surged 77% in the past 24 hours.</strong></li> 
 <li><strong>A bullish trend prevails with a 9-day EMA at $1.83.</strong></li> 
</ul> 
<p>TON, the native token of Toncoin, a prominent Layer 1 blockchain, has emerged as the top gainer in the past 24 hours, experiencing a significant surge of 10%. This surge has caught the attention of the community as it marks a recovery phase after a challenging week. Amidst that, it has managed to maintain its <a href="https://thenewscrypto.com/toncoin-ton-price-maintains-bullish-momentum-defying-market-trend/" rel="noopener noreferrer nofollow">bullish</a> momentum throughout the fourth quarter, with a remarkable 35% surge in the past 30 days.</p> 
<p>One key driving factor behind this surge is the recent announcement by TON (The Open Network) on September 12, revealing its <a href="https://thenewscrypto.com/ton-joins-nftscans-growing-portfolio/" rel="noopener noreferrer nofollow">collaboration</a> with NFTScan, a multi-chain NFT data infrastructure service provider. This partnership has resulted in the launch of TON NFTScan, an all-inclusive NFT explorer integrated into the ecosystem.</p> 
<p>Meanwhile, just hours ago, the TON’s team took to Twitter to <a href="https://x.com/ton_blockchain/status/1701580186133647795?s=20" target="_blank" rel="noopener noreferrer nofollow">unveil</a> their upcoming presentation at Token249, one of the year’s major crypto events held in Singapore. The announcement hinted at the transformation of Telegram through Toncoin, igniting excitement within the community.</p> 
<p>Notably, the TON blockchain was developed by the Telegram team using the proprietary TVM virtual machine.</p> 
<h3 class="wp-block-heading" id="h-examining-ton-price-moments">Examining TON Price Moments</h3> 
<p>The trading volume of TON has surged by an impressive 77%, reaching $48 million. Further insights from the IntoTheBlock data indicate that whales currently hold a significant 76.32% of the circulating supply.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" width="1024" height="487" src="https://thenewscrypto.com/wp-content/uploads/2023/09/TON.jpg-1024x487.png" alt="" class="wp-image-82221" srcset="https://thenewscrypto.com/wp-content/uploads/2023/09/TON.jpg-1024x487.png 1024w, https://thenewscrypto.com/wp-content/uploads/2023/09/TON.jpg-300x143.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/09/TON.jpg-768x365.png 768w, https://thenewscrypto.com/wp-content/uploads/2023/09/TON.jpg-150x71.png 150w, https://thenewscrypto.com/wp-content/uploads/2023/09/TON.jpg.png 1515w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    TON Price Chart, Source: TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>Moreover, A closer look at TON’s recent price movements reveals a prevailing bullish dominance on the daily chart. The 9-day exponential moving average (EMA) is currently situated at $1.83, suggesting ongoing bullish sentiment. The daily relative strength index (RSI) stands at 63, indicating that the asset is approaching overbought territory. As of now, it is trading at $1.84.</p>

TON Surges an Impressive 34%; Can the Bullish Momentum Sustain?

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