Why Toncoin (TON) Could Rally Beyond $10 in 2025?
The post Why Toncoin (TON) Could Rally Beyond $10 in 2025? appeared on BitcoinEthereumNews.com.
Amid the ongoing crypto correction catalyzed by the Bitcoin (BTC) price drop below $94k, the Toncoin (TON) price has retested a crucial support level of around $4.8, which has been established in the past eight months. The large-cap layer-one altcoin, with a fully diluted valuation of about $27.6 billion and a 24-hour average traded volume of about $285 million, has been forming a potential bullish continuation pattern. In the weekly time frame, the TON price has been forming a symmetrical descending triangular pattern, as the Relative Strength Index (RSI) successively rebounds from the 50 percent level. Furthermore, the TON price has successfully rebounded from the 50-weekly Simple Moving Average (SMA), thus suggesting a potential rebound in the near term. Why Bet on Toncoin Recovery in 2025 The Toncoin network has grown to a robust web3 ecosystem bolstered by Telegram’s mini apps in the recent past. Already, the TON blockchain has achieved more than $1 billion in stablecoins, less than a year since Tether’s USDT integration. With a dozen DeFi projects, the TON project has grown to over $247 million in total value locked (TVL). According to on-chain data analysis by IntoTheBlock, Telegram’s mini apps led by Notcoin (NOT) have propelled TON’s daily active users to over 5 million. The @ton_blockchain emerged as a major success story in 2024, driven by the widespread adoption of its Telegram mini-apps. These applications drew mainstream attention, propelling TON’s daily active users to exceed 5 million by mid-year. pic.twitter.com/8RpTmHwHtv — IntoTheBlock (@intotheblock) December 23, 2024 The success of the Toncoin network is heavily bolstered by Telegram, which achieved annual profitability in 2024’s fiscal first. According to Pavel Durov, Telegram’s CEO and founder, the social media platform has over 12 million premium subscribers. As a result, Telegram reported surpassing a revenue of $1 billion in 2024…
Filed under: News - @ December 24, 2024 6:29 am