Toncoin (TON) is getting ready for a possible jump in price, driven by a change in how investors feel and good signs from the market.
Even though the price went down recently, experts think it could go up again, maybe reaching $7.8. That would be a rise of about 17.77%.
Toncoin (TON) Enhances Affordability and Accessibility
The Open Network recently implemented a significant reduction in transaction fees, making Toncoin more accessible to users. The fee has been slashed by 2.5 times, aiming to improve network scalability and draw in new users.
Toncoin transactions are now priced according to their dollar value. Initial transactions cost $0.06, while subsequent ones are priced at $0.04, allowing for more cost-effective usage of the network.
In a move to further stimulate interest among investors, the TON Foundation distributed 20,630 TON tokens to JVT holders and ANON traders through an airdrop. This distribution has contributed to a heightened sense of enthusiasm within the Toncoin community.
Toncoin (TON) Holding Behavior Indicates Growing Confidence
Toncoin’s mean coin age, a metric reflecting investors’ holding behavior, has been on the rise. This suggests that investors are increasingly opting to hold onto their TON investments, indicating a growing sense of confidence in the cryptocurrency.
An analysis of the disparity between daily average addresses (DAA) and market valuation unveils a potential buying opportunity. This indicates that despite the current market valuation, there may be room for further growth and investment in Toncoin.
Toncoin is presently trading at $5.5, but there are indications of a potential breakout above the $7.0 resistance level. If this breakout occurs, it could lead to a significant price increase, with a target of $7.8 in the near future.
Despite positive indicators, there are risks of Toncoin’s price falling back down to $5.4 if it fails to surpass the resistance level. A decline below $5.4 could further result in a drop to $5.2. Investors should consider these factors when making investment decisions regarding Toncoin.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.