1. Market Cap Milestone: Toncoin Surpasses $18.5 Billion, Securing 10th Place Among Cryptocurrencies.
2. Trading Surge: Toncoin's 24-Hour Volume Jumps Over 50% to $228 Million.
3. Price Rally: Toncoin Records Over 5% Daily and Nearly 6% Weekly Growth.
4. Telegram Integration Boosts Toncoin: Speed Test Victory and Durov's $30 Billion Valuation Announcement Propel Rise.
5. Bullish Momentum: Charts Indicate Potential Breakout Above $5.5, Eyeing New Highs Between $6.9 and $7.
TonCoin has achieved significant milestones, with its market cap now exceeding $18.5 billion, reflecting a surge in investor confidence. Additionally, trading volume has spiked by over 50% in the last 24 hours, reaching an impressive $228 million.
The cryptocurrency's price has also seen notable gains, climbing approximately 5% in the last day to reach $5.42, and nearly 5.8% in the last week. This growth is particularly remarkable when considering TonCoin's ranking, price, and market cap just a month ago.
TonCoin's journey to the top has been marked by strategic moves and pivotal moments. In September 2023, the launch of its Telegram-based TON wallet propelled it to beat Tron as the 15th largest asset by market cap. Certik later confirmed TON as the fastest and most scalable blockchain, capable of over 104,000 transactions per second.
Furthermore, announcements by Telegram Founder Pavel Durov, including the revelation of a new ad-revenue sharing system for Telegram channel managers, significantly influenced TonCoin's growth. Durov's reports of Telegram being valued at over $30 billion in anticipation of a potential IPO further bolstered investor sentiment.
In terms of price action, TonCoin appears poised for a significant price surge. Forming a triple top formation against the $5.5 resistance, it may be on the brink of breaking above this level. If successful, the cryptocurrency could encounter resistance at $5.7 before aiming for new all-time highs around $6.9 to $7. Key support and resistance levels to monitor include $4.5 - $4.6 and $6.9 - $7.
$TON
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