Amidst a generally bearish crypto market trend, the value of Toncoin (TON) has surged past the $8 mark, reaching an all-time high of $8.12 and achieving a market cap exceeding $19.2 billion.
According to analyst Ali Martinez on X, Toncoin is preparing for a potential 40% breakout, targeting an impressive $11. However, the TD Sequential indicator suggests that TON might experience a brief dip to $7.2 to gather liquidity before continuing its upward trajectory.
#Toncoin is gearing up for a potential 40% breakout, aiming for $11! However, the TD Sequential indicator suggests $TON might briefly dip to $7.2 to gather liquidity before the upswing. pic.twitter.com/jMoZ1ugEga
— Ali (@ali_charts) June 13, 2024
Ton Blockchain Host New Milestone In Over $500 Million In TVL
The Ton Blockchain has recently reached a significant milestone, hitting $500 million in Total Value Locked (TVL). This marks a substantial increase from $22.9 million in March 2024 to more than half a billion today, representing an astonishing growth of over 2,000%.
The TVL on Ton Blockchain now rivals the GDP of a small country, reflecting the extensive use of TON across various applications.
BREAKING: $500M Total Value Locked (TVL) 🔥
The GDP of a small country is in use across #TON's apps. This incredible achievement is yours, TON Community!
From $22.9M TVL in March 2024 to more than half a billion today – over 2,000% increase. 📈
It’s still only the beginning.… pic.twitter.com/bE3xqohACG
— TON 💎 (@ton_blockchain) June 13, 2024
This rapid increase in TVL highlights the growing confidence and adoption of the Ton Blockchain ecosystem. Investors and users are increasingly engaging with TON’s applications, contributing to its robust growth. The current bullish sentiment around Toncoin is driven by both its impressive market performance and the broader utility of its blockchain network.
In conclusion, despite the overall bearish sentiment in the crypto market, Toncoin has defied the trend with remarkable performance. With analysts predicting further gains and significant milestones achieved in TVL, TON is positioned for continued growth.
However, investors should be mindful of potential short-term fluctuations as indicated by technical analysis. As Toncoin continues to attract interest and expand its ecosystem, it remains a noteworthy player in the cryptocurrency space.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: stlegat/123RF / Image Effects by Colorcinch
The post Toncoin Soars Above $8 Amid Bearish Crypto Market, Poised For Further Breakout appeared first on The Merkle News.