Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»ALTCOIN NEWS»Toncoin Price Soars: Fighting Bearish Sentiment in the Cryptocurrency Market
ALTCOIN NEWS

Toncoin Price Soars: Fighting Bearish Sentiment in the Cryptocurrency Market

By Crypto FlexsNovember 29, 20233 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Toncoin Price Soars: Fighting Bearish Sentiment in the Cryptocurrency Market
Share
Facebook Twitter LinkedIn Pinterest Email

Toncoin price has recorded significant gains over the past few weeks despite the decline in cryptocurrency market sentiment. Assets are up more than 57% year to date and nearly 26% in the past week. Nonetheless, Toncoin remains 13% lower so far this year. Toncoin’s overall market cap has risen to $6.5 billion over the past few days, putting it in 11th place.Day In the cryptocurrency market.

What is Toncoin?

Toncoin is a decentralized layer 1 blockchain created by brothers Nikolai and Pavel Durov and later developed by the encrypted messaging platform Telegram in 2018. The project was acquired by the TON Foundation and later renamed from “Telegram Open Network” to “The Open”. Toncoin utilizes a proof-of-stake consensus model network for stability and scalability and to validate transactions.

Developers focus on scalability, efficiency, and mass adoption. The network offers ultra-fast transactions, confirming and processing a huge number of transactions per second. The TON Network offers several services, including the TON Wallet, a built-in wallet feature designed to transfer funds and interact with platform services. According to the TON website, the platform provides customers with fast, transparent and secure payment services.

TON’S PERFORMANCE

Cryptocurrency markets have been moving slowly over the past few days, with Bitcoin, the leading cryptocurrency, struggling below the critical level of $26,000. On the other hand, Toncoin price continues to defy current market movements and recorded significant gains over the past week. Toncoin has been one of the best-performing altcoins over the past few days, with major altcoins like Ethereum and XRP succumbing to general market sentiment.

The value of the digital currency has increased by more than 35% over the past week, according to data from CoinGecko. Increasing developer activity on the Toncoin network has buoyed the upward trend in asset performance. The number of monthly developers actively participating in the proof-of-stake blockchain has increased by more than 40% since the beginning of the year, increasing demand for the token.

Despite the decline in the number of TON whale transactions, TON’s exchange supply has surged over the past two weeks. During that period, the total volume of Toncoins on exchanges increased by more than 15%. The confluence of these factors has reignited bullish momentum for the asset after a difficult summer.

Toncoin price technical analysis

Looking at the daily chart, we can see that Toncoin price has been strong over the past few weeks, jumping to its highest level since May 2023. The asset has 50-day and 200-day exponential moving averages as well as 50-day and 100-day simple moving averages. The relative strength index (RSI), which measures the balance between buying and selling pressure on an asset, is in overbought territory at 74.

Therefore, Toncoin price is likely to move higher in the next session as bulls eye the important resistance level of $2.00. If this happens, the next resistance level to watch would be $2.2290. However, a move below the 200-day EMA $1.680 would invalidate my optimism and take the price lower to the next support at $1.500.

TON price chart

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

The market will select US regulatory stable coins more than CBDCS every day of CBDCS every day.

July 3, 2025

SEI tokens have soared more than 100% in June -the highest catalyst explained.

June 26, 2025

$ 438m XRP Transfer Sparks Panic- Ripple?

June 19, 2025
Add A Comment

Comments are closed.

Recent Posts

XRP rebounds are interested in APT miners cloud mining.

July 3, 2025

The market will select US regulatory stable coins more than CBDCS every day of CBDCS every day.

July 3, 2025

Best Crypto PR Agency Packages : What to Look For & Where to Start

July 3, 2025

Looking for an Affordable Crypto PR Agency? Here’s What to Know Before You Spend

July 3, 2025

Crypto PR Packages for Startups: What You Need & How to Choose the Right One

July 3, 2025

Cheap Crypto Press Release: How to Promote Your Project Without Overpaying

July 2, 2025

The Ultimate Guide to Crypto Public Relations Packages

July 2, 2025

Submit Your Website to Crypto Directories and Boost Your Visibility Instantly

July 2, 2025

Cardano (ADA) -It is not damaged, but there is no fireworks that can be moved yet.

July 2, 2025

Verifiable OffChain Compute Framework Powering AI Applications

July 2, 2025

How to Start a Crypto Press Release Side Hustle and Keep 100% Profit (Step-by-Step Guide)

July 2, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

XRP rebounds are interested in APT miners cloud mining.

July 3, 2025

The market will select US regulatory stable coins more than CBDCS every day of CBDCS every day.

July 3, 2025

Best Crypto PR Agency Packages : What to Look For & Where to Start

July 3, 2025
Most Popular

Ether Lee prints four red monthly candles for four consecutive consecutive, but refers to the ETH/BTC floor.

April 2, 2025

Three indicators suggest that the Ethereum (ETH) price decline is not over yet.

June 11, 2024

AI will be used to create personalized stories in ‘Space Nation’ crypto game

February 8, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.