Will $USDT Popularity on $TON Boost Toncoin Price for $8 Breakout? - CoinGape Analytics
đ Toncoin Price Slightly Down
Toncoin showed a modest 0.2% loss, trading at $5.2, continuing its consolidation trend since early October. However, increasing USDT transactions on the TON network signal a possible bullish breakout towards $8.
đ USDT Adoption on TON
USDT stablecoin is gaining traction on the TON blockchain, with over 4.5 million transactions in 30 days and $300 million in volume. This increasing adoption strengthens the TON network, potentially driving up Toncoin's price.
đ Whale Accumulation
Whales have increased their holdings from 23.6% to 28.07%, while exchange supply dropped. This signals confidence in TON and reduced sell-off pressure, which could fuel a price rally.
đ TON Price Breakout Potential
Toncoin is forming an inverted head and shoulders pattern, signaling a potential breakout past $5.3, with targets at $6 and $8.2. Failure to break resistance may lead to a correction.
