Toncoin (TON) is currently an industry sensation as it has it shot itself to a new all-time high (ATH) of $8.04, reached just at the time of writing. This ATH boost comes after the 6.42% increase it recorded in the last 24 hours and the over 7% growth over the past week.
Toncoin (TON) is currently an industry sensation as it has it shot itself to a new all-time high (ATH) of $8.04, reached just at the time of writing. This ATH boost comes after the 6.42% increase it recorded in the last 24 hours and the over 7% growth over the past week.
Toncoin Profitability Metric
Toncoin’s sensational growth has cemented its place as the ninth largest cryptocurrency by market cap. The biggest beneficiary of this rally is the 21,490 Toncoin wallet addresses, all of which are now in profit, according to data from crypto analytics platform IntoTheBlock (ITB).
Vladislav SopovToncoin’s journey has been marked by constant growth since the beginning of the year. According to on-chain data, the coin briefly launched XRP in what is considered a rare performance boost. Toncoin’s popularity is closely tied to its partnership with Telegram, the fast-growing social messaging app.
In addition to the action of the TON whales, whose transactions increased by 245% in 24 hours, The Open Network (TON), which hosts Toncoin, has also hosted a few different user-focused projects such as Notcoin and Hamster Kombat. These projects are designed as Play-2-Earn (P2E) games with huge advantages in terms of user incentives.
Gaining access to these games and their promised rewards requires TON and, as such, has generated enormous demand for the coin, fueling its rise to stardom.
What’s next for Toncoin?
As a top 10 cryptocurrency, Toncoin is now on the radar of many analysts and investors, with many wondering what could happen next as it is now effectively in price discovery mode.
Mushumir to the fullestTelegram has a massive growth projection that could soon see it surpass one billion users. The more this platform grows, the more Web3 projects might be willing to take the risk of building on top of the platform and continually drive demand for TON.
Based on its current outlook, a $10 price for TON cannot be ruled out in the medium to long term.
