{"id":73541,"date":"2024-03-13T03:26:42","date_gmt":"2024-03-13T07:26:42","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=73541"},"modified":"2024-03-13T03:27:13","modified_gmt":"2024-03-13T07:27:13","slug":"toncoin-ton-reaches-record-price-peak","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/toncoin-ton-reaches-record-price-peak\/","title":{"rendered":"Toncoin (TON) Reaches Record Price Peak"},"content":{"rendered":"\n

According to recent data, an Ethereum whale purchased $850 million worth of TON, causing the Toncoin price to rise past $4.0.<\/p>\n\n\n\n

\"Toncoin<\/figure>\n\n\n\n

Toncoin, the native cryptocurrency of the Telegram Open Network <\/a>(TON), reached a new all-time high of $4.45 after a remarkable 25% increase in the last 24 hours.<\/p>\n\n\n\n

In addition, TON is trading at $4.31, an increase of 16.31%, and has a market cap of $15 billion as of press time.<\/p>\n\n\n\n

Notably, there has been a 30% increase in 24-hour trading volumes, amounting to $354 million.<\/p>\n\n\n\n

What's Driving the Toncoin (TON) Price Rally?<\/h2>\n\n\n\n

Given the significant and consistent relationship between trading volume and TON price swings, there is growing optimism over the trajectory of future prices.<\/p>\n\n\n\n

Furthermore, the most recent announcement<\/a> elaborates on the prospective allocation of\u00a050%\u00a0of the revenue to owners of Telegram channels.<\/p>\n\n\n\n

\n

“Telegram will distribute rewards using Toncoin on the TON Blockchain,” the announcement states. Channel owners will start receiving 50% of all revenue generated from advertising on the company\u2019s channels.\u201d<\/p>\n<\/blockquote>\n\n\n\n

The flourishing initiatives within the TON blockchain ecosystem, particularly within The Open League, have also contributed to the growth of Toncoin.<\/p>\n\n\n\n

Notably, TON Raffles has experienced significant growth, as evidenced by a substantial 60% surge in Total Value Locked (TVL) and a remarkable 70% increase in user engagement.<\/p>\n\n\n\n

As a token of appreciation for its accomplishments, the TON Foundation has implemented a benevolent airdrop initiative whereby every TON Raffles token holder will receive 1 TON.<\/p>\n\n\n\n

Moreover, Lookonchain, an on-chain data provider, observed that the 30% increase in\u00a0TONcoin's price\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>\u00a0occurred concurrently with a significant transaction that took place on the blockchain.<\/p>\n\n\n\n

A whale investor made a major purchase on Lookonchain by expending 214 Ethereum (approximately $858,000 USD) to obtain 209,237 TONcoin tokens.<\/p>\n\n\n\n

This transaction took place for $4.1 per TONcoin on-chain.<\/p>\n\n\n\n

Significantly contributing to the coin's notable increase in market value, the whale investor's substantial investment highlights the increasing confidence and interest in TONcoin.<\/p>\n\n\n\n

\n

The price of $TON<\/use><\/svg><\/span><\/a>(#Toncoin<\/use><\/svg><\/span><\/a>) increased by nearly 30% today!

We noticed that a whale spent 214 $ETH<\/use><\/svg><\/span><\/a>($858K) to buy 209,237 $TON<\/use><\/svg><\/span><\/a> at $4.1 on-chain.https:\/\/t.co\/BGyj7ugsLw<\/use><\/svg><\/span><\/a> pic.twitter.com\/EiUOkcup3e<\/use><\/svg><\/span><\/a><\/p>— Lookonchain (@lookonchain) March 13, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

TON Price Action Ahead<\/h2>\n\n\n\n

95% of TON Coin investors have realized profits as of this writing.<\/p>\n\n\n\n

The absence of significant profit-taking in the foreseeable future indicates that these investors are intent on attaining unprecedented heights.<\/p>\n\n\n\n

Similar trends were noted in the FLOKI Token, which maintained a profit margin of 95% before experiencing a price doubling.<\/p>\n\n\n\n

Nevertheless, it is prudent to contemplate the potentiality of selling pressure.<\/p>\n\n\n\n

A 37% increase in price necessitates prudence.<\/p>\n\n\n\n

Meanwhile, a\u00a0consideration of the four-hour chart reveals a favorable trend in price movement over the short term.<\/p>\n\n\n\n

\"Toncoin<\/figure>\n\n\n\n

In the past, TON Coin has encountered support in the vicinity of $2.6 and $2.38.<\/p>\n\n\n\n

Prices might plummet to these levels in the event of a possible sell-off.<\/p>\n\n\n\n

Nevertheless, should the present momentum continue, a closing price greater than $4 might incite a fresh surge in price towards the $5.8 mark.<\/p>\n","protected":false},"excerpt":{"rendered":"

According to recent data, an Ethereum whale purchased $850 million worth of TON, causing the Toncoin price to rise past $4.0. Toncoin, the native cryptocurrency of the Telegram Open Network (TON), reached a new all-time high of $4.45 after a remarkable 25% increase in the last 24 hours. In addition, TON is trading at $4.31, […]<\/p>\n","protected":false},"author":56,"featured_media":73545,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[18792,14171],"class_list":["post-73541","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ton-price-rally","tag-toncoin"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/03\/Toncoin-social.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/73541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=73541"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/73541\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/73545"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=73541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=73541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=73541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}