TON Price Surges Back With Increased Buying Pressure; Will It Sustain?
Release: 2024/07/06 16:19 Reading: 591
After a drop to $197 Trillion in crypto market capitalization, today marks a slight recovery as it has surged almost 4% in the last 24 hours to $2.06 Trillion. Though the fear and greed index is still bearish and many other signals indicate bear dominance, many cryptocurrencies have retrieved their values. Of these, the TON price surge to $7.53 after falling to a low of $6.4568 is leading the market recovery.
This has been quite a significant recovery, especially in the ongoing market conditions, but can it be sustained? Let us discuss this in this blog.
Analyzing The TON Price Performance
Toncoin hit its prime last month, reaching an all-time high of $8.24 on June 15. This surge came after the continuous demand among investors over the last few months. Since the beginning of the year, the TON price has made 225% in gains, flipping Dogecoin into market position despite facing a heavy drop recently to $6.4568.
What is more interesting is that this drop came right after the altcoin was close to an all-time high with a peak of $8.0847, but with the crypto market crash, that went into vain.
However, today is another opportunity for the altcoin as the TON price is at $7.53 after a 14% surge in the last 24 hours. It has become one of the first cryptos to attempt recovery despite the bearish trends, indicating high demand in the market. This demand is also visible in its growth this year as at the beginning, Toncoin was trading at $2.31, but with the Telegram support, things have changed for good.
Will TON Price Continue To Surge?
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