News

Toncoin Soars Above $8 Amid Bearish Crypto Market, Poised For Further Breakout

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.

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.

Related Post

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

Will Izuchukwu

Will is a News/Content Writer and SEO Expert with years of active experience. He has a good history of writing credible articles and trending topics ranging from News Articles to Constructive Writings all around the Cryptocurrency and Blockchain Industry.

Share
Published by
Will Izuchukwu

Recent Posts

Smart Traders Pile Into $MOG As Token Continues To Break All-Time Highs

In the ever-dynamic world of cryptocurrency, $MOG has been a standout performer, breaking its previous…

4 hours ago

Tether Treasury Mints 1B USDT As Whales Inject 278.7M Into Crypto Market

Yesterday, the Tether Treasury minted another 1 billion USDT on the Tron Network, marking the…

4 hours ago

Real World Assets In DeFi Reach $3.89 Billion TVL, Marking Major Milestone

As of July 2024, the Total Value Locked (TVL) for Real World Assets (RWA) in…

4 hours ago

Ethena Protocol Surges In Stablecoin Supply And User Adoption

The Ethena protocol has experienced impressive growth in 2024, particularly in the supply of its…

4 hours ago

DeFi Blue Chips Poised For Breakout Despite Record Low Valuations

Despite lagging in 2023, DeFi 1.0 assets are now positioned for a significant breakout. DeFi…

4 hours ago

MOONHOP’s Presale Skyrocket | Shiba Shootout Value | Bonk Investors’ Moves

Best Meme Coin Gainer: MOONHOP's Presale Skyrockets, Attracting Bonk Investors While Shiba Shootout’s Value Soars…

10 hours ago