The post Toncoin (TON) Price Prediction: Major Bull Run Ahead? appeared on BitcoinEthereumNews.com.

Toncoin (TON) has been struggling recently, with its price falling and testing the $4.45 mark. The coin is currently under a major bearish trend line and faces resistance around $6.00. Yet, the coin has displayed good performance in the last 24 hours. Let’s take a look at this Toncoin price prediction article in more detail. How has the Toncoin (TON) Price Moved Recently? TON/USD Daily chart- TradingView  Toncoin’s price is currently $5.04, with a 24-hour trading volume of $594.33 million and a market cap of $12.77 billion, giving it a market dominance of 0.65%. Over the past 24 hours, the price has increased by 6.41%. Toncoin hit its all-time high of $8.27 on June 15, 2024, and its all-time low was $0.52 on September 21, 2021. Since reaching its all-time high, the lowest price has been $4.47, and the highest has been $5.12. Currently, the market sentiment for Toncoin is bearish, with the Fear & Greed Index showing a level of 26 (Fear). The circulating supply of Toncoin stands at 2.53 billion out of a maximum supply of 5 billion. The annual supply inflation rate is -26.20%, indicating that 899.15 million TON were minted in the past year. Why is Toncoin Price UP?   The recent rise in Toncoin (TON) price can be attributed to the TON Foundation’s newly launched 5 million Toncoin DeFi incentive program. This initiative aims to boost the adoption of USDt-TON by rewarding liquidity providers in key pools such as TON/USDt, stTON/USDt, and tsTON/USDt on platforms like STON.fi and DeDust.  By incentivizing liquidity provision, the program enhances the token’s utility and attractiveness within the DeFi ecosystem, which likely contributes to the positive price movement.  As liquidity in these pools increases, it can drive higher demand and trading activity for Toncoin, potentially leading to further price gains.…

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Filed under: News - @ September 9, 2024 11:23 am