According to CoinMarketCap’s data, Toncoin (The Open Network’s native cryptocurrency) experienced a significant increase of 18%, reaching a new peak price of $7.22 during market instability.
Toncoin’s value significantly increased, causing it to rank as the eighth largest cryptocurrency and go past Dogecoin with a market capitalization over $24 billion. This surge in value can be attributed to Toncoin’s recent collaboration with HasKey.
Experts are keeping a keen eye on Toncoin as its value has jumped by nearly 40% over the past week and an astounding 125% during the last month, representing a significant gain of around 175% since March. The trading activity for this coin has significantly increased, with an average of over three times the normal volume daily.
Based on technical analysis, Toncoin’s price is trending upward in a channel, suggesting optimistic market feelings. Buyers have shown significant interest during recent price drops, propelling the coin closer to a potential surge towards $10. If the $7.50 resistance level is breached, this upward momentum could become even more pronounced.
The surge of Toncoin can be attributed to Telegram’s announced initial public offering (IPO) and the introduction of Toncoin ads. This new feature allows advertisers to have more control over where their ads appear and how much they spend on their ad campaigns.
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2024-04-15 10:28