Toncoin (TON) Price Hits Fresh All-Time High, Here’s Why $10 Is Coming Soon
Release: 2024/06/13 12:54 Reading: 887
- Original author：Coingape News Media
- Original source：https://coingape.com/?p=202080
Toncoin (TON) Reaches Record High: $10 Within Reach
Toncoin (TON), the native token of the Layer-1 blockchain The Open Network, has surged to a new all-time high. At the time of writing, TON trades at $7.64, up 8.53%, with a market capitalization of $18.5 billion, ranking it ninth largest cryptocurrency.
Technical Indicators Hint at Continued Rally
The Toncoin technical chart displays a "golden cross" formation, where the 50-day moving average has crossed above the 200-day moving average, indicating a potential long-term uptrend. This pattern has been historically bullish for altcoins.
Positive On-Chain Metrics Support Rally
Strong on-chain data further supports the bullish sentiment for TON. The number of active Toncoin wallets has skyrocketed from 1.28 million to over 8 million in 2024. This surge suggests a significant increase in adoption and interest in the network.
Social Activity Bolsters Market Momentum
Social metrics, such as volume and dominance, have also turned bullish in recent days. This surge often precedes market rallies, indicating that investors are increasingly positive about TON's prospects.
Conclusion
The combination of technical indicators, on-chain data, and social activity points to the potential for TON to continue its rally towards $10 in the near future. Should this target be reached, it would represent a significant milestone for the altcoin and underscore its growing popularity and adoption.
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