Toncoin continues to rise, showing successful dynamics due to increased transactions and recent investments in the ecosystem.
Price and Market Capitalization Increase
Toncoin has risen to $3.60, demonstrating a 38% increase since its June low. The market capitalization has surpassed $3.7 billion, indicating renewed interest in the Telegram-linked blockchain. The recent price surge coincided with the announcement that STON.fi, the largest decentralized application in the Toncoin ecosystem, secured $9.5 million in funding from Ribbit Capital and CoinFund.
Network Activity Growth on TON
Network activity on the TON blockchain has significantly increased in the past week. Data from Nansen shows transactions rose by 32% to 3.8 million, while fees increased by 52%. The number of active addresses also rose by 5%, indicating stronger user engagement and broader adoption of the platform.
Technical Analysis of Toncoin
From a technical perspective, Toncoin broke past the neckline of a double-bottom pattern at $3.5812 after bouncing from support at $2.722. The move above the 23.6% Fibonacci retracement level, along with the pending crossover of the 50-day and 100-day moving averages, supports the view of further gains. Analysts note that the next resistance level is near $4.77.
Toncoin’s success is attributed to a combination of strong ecosystem funding, robust network growth, and bullish technical indicators. These factors present new opportunities for investors and underscore the growing interest in the platform.