TON’s Popularity Soars in 2024

In 2024, the #TON platform has seen a massive surge in popularity, with the number of token holders skyrocketing by an impressive 2400%. By October 2024, there are over 90 million $TON holders, indicating a rapidly growing user base and rising interest in the platform.

Continuous Growth of Token Holders, Sharp Increase Since June

From January to October 2024, the number of TON holders steadily increased, with a sharp rise beginning in June. By October, the number of token holders had surpassed 84 million, marking significant growth.

The trading volume of TON has been more volatile, with notable spikes in mid-March, late July, and September. The highest trading volume was recorded in September, exceeding $2.4 billion. Despite a decline after this peak, the trading volume remains significantly higher compared to previous months.

Current Market Performance of TON

At the time of writing, the price of #Toncoin (TON) was around $5.28, reflecting a 0.60% increase over the past day. The token’s market capitalization stands at $13.40 billion, with a circulating supply of 2.54 billion tokens.

Toncoin’s price initially climbed above $5.30 but dipped in the afternoon before a late recovery. Despite the downward trend since its mid-July high of $8.50, the token has shown signs of recovery in recent weeks.

After dropping to approximately $4.50, the price has bounced back to $5.29. The recent formation of green candles suggests increasing bullish momentum. However, it remains uncertain whether this is a short-term rise or the start of a longer upward trend.

Technical Indicators

The MACD (Moving Average Convergence Divergence) recently experienced a bullish crossover, with the MACD line moving above the signal line. Additionally, the RSI (Relative Strength Index) has moved to 52.10, indicating that the market is neither overbought nor oversold. This gives a neutral to bullish outlook, as buying pressure on the market continues to increase.

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