Animoca Brands, investing in TON, now holds the position of the top validator on the blockchain network.
Their goal is to bolster Ton Play and introduce fresh gaming initiatives to Telegram's colossal user base of 800 million.
Following Animoca's investment announcement, Toncoin witnessed a surge in both transaction and wallet counts.
The price of Toncoin experienced a 2.4% boost after the announcement.
Analysts foresee the potential for Toncoin to rally further, with an estimated increase of 26% compared to the previous high of $3.3 by April 30th.
Animoca Brands has forged a significant partnership with Telegram's The Open Network (TON), marking its foray into blockchain gaming and GameFi. As the largest validator on the TON blockchain, Animoca's substantial investment cements its role in network security and governance, potentially signaling a billion-dollar commitment.
This collaboration holds immense promise for the 800 million Telegram users worldwide. Animoca's interest in TON Play, a prominent blockchain gaming platform within the TON network, signifies a strategic move to introduce innovative gaming projects to Telegram's vast user base via their web app or the PlayDeck Bot.
The metrics of TonCoin, the native cryptocurrency of TON, reflect substantial growth. Transaction counts and wallet creations have surged notably, showcasing an uptrend in user engagement. With a cumulative transaction count surpassing 166 million and a burgeoning daily count of 190,000 transactions, alongside 3.8 million wallets created, TON's ecosystem is experiencing rapid expansion.
TonCoin's market performance has been notable too. Following Animoca's announcement, TonCoin observed a 2.4% rally. Even before this development, the cryptocurrency had shown bullish tendencies, experiencing a 4.5% increase over the past week and nearly 20% over the last month, currently trading around $2.5.
Analyzing TonCoin's price action reveals an intriguing pattern. Despite volatility, the cryptocurrency has surged from a low of $1.16, marking a more than 100% increase to its present value. Its current position nearing the $2.6 resistance level suggests potential for a breakout, potentially propelling it by another 26% towards its previous high of $3.3.
However, it's crucial to note the volatility inherent in cryptocurrencies and make informed decisions. While these insights offer an exciting perspective on TonCoin's potential growth, cryptocurrency investments involve risks that necessitate thorough research and personal financial discretion.