Toncoin hits record high daily active addresses, but is TON a ‘bubble’? – analysis by AMBCrypto
The TON Masterchain has reached a record of 946 daily active addresses, a 7x increase since July 2021, as Kyledoops noted on X (formerly Twitter).
This growth reflected rising network activity, the expansion of dApps and work chains, and potential higher demand for Toncoin (TON).
Although some analysts suggested that the TON blockchain might be a bubble due to its low daily active user count, broader market metrics challenge this view, indicating the network’s solid progress and potential in the long-term.
First, Toncoin has shown strong potential as a top coin to hold on the support.
The TON/USDT weekly chart revealed a reversal candle with a long tail, indicating bullish pressure, supported by growing volume in recent weeks.
Moreover, Bollinger Bands are tightening, suggesting a potential squeeze, but the best bet lies in the breakout to the upside.
On the daily time frame, Toncoin was nearing a breakout above 100 simple moving average, which has posed some resistance.
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