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Home»ALTCOIN NEWS»Toncoin will ‘beat’ Bitcoin in 2024
ALTCOIN NEWS

Toncoin will ‘beat’ Bitcoin in 2024

By Crypto FlexsJanuary 13, 20253 Mins Read
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Toncoin will ‘beat’ Bitcoin in 2024
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  • Toncoin surpassed Bitcoin in 2024 as TVL rose to record highs.
  • TON has surged 144.52% over the past year.

While Toncoin (TON) is currently struggling to post a sustained upward trend on the charts, the altcoin has seen significant gains throughout the year. For example, on the yearly chart, TON was trading at $5.38, up 144.52% at press time.

Simply put, it has emerged as one of the best-performing cryptocurrencies on the market during this period.

Source: CryptoQuant

However, Toncoin is expected to surpass Bitcoin (BTC) in 2024, according to CryptoQuant.

Toncoin surpasses Bitcoin!

According to CryptoQuant’s analysis, TON will outperform Bitcoin throughout 2024, making it one of the few altcoins to outperform BTC in terms of performance.

While most altcoins have struggled to outperform Bitcoin in 2024, TON’s outstanding performance highlights its unique dynamics and adoption.

Source: CryptoQuant

These achievements were therefore a result of growth across various aspects of the Toncoin ecosystem. In particular, there has been a significant surge in Total Value Locked (TVL).

Toncoin’s TVL has performed very well thanks to growing investor confidence in the TON ecosystem and increased staking and liquidity. Investors and capital inflows also increased rapidly in derivatives.

Source: CryptoQuant

Throughout the year, this activity resulted in the highest ever value in terms of transactions and users within the Toncoin ecosystem. The network has over 5 million users and 24 million transactions. Therefore, in 2024, the Toncoin ecosystem has grown significantly, further proving the strength and usefulness of the ecosystem.

Importantly, if this trend continues throughout 2025, Toncoin could establish itself as a leading blockchain for the future.

What is the impact on the price of TON?

While Toncoin’s ecosystem continues to grow, Toncoin’s native token, TON, is facing serious challenges. For example, last week TON fell 5.09%, while on the monthly chart it fell 16.55%.

However, despite the recent price decline, analysis by AMBCrypto shows that the downtrend is tiring. In fact, market sentiment may now turn more optimistic.

Source: IntoTheBlock

This can be seen, for example, as investors withdraw more from the exchange than they deposit. Netflow decreased to -882.49k.

Altcoins recorded an outflow of 2.35 million tons compared to inflow of 1.47 million tons. This suggests that investors are starting to accumulate altcoins.

This accumulation can also be seen in whales. In fact, the supply of whales jumped to 781,000 last week.

On the price chart, Toncoin’s Stoch and RVGI were both bullish at press time. Stoch’s crossover occurred 48 hours ago, consistent with an upward trend that strengthened over the past day.

Simply put, Toncoin may be well-positioned for a bullish reversal as downward pressure runs out. With market sentiment turning positive, TON could make a significant recovery. So, if this sentiment holds, TON will recoup $5.83. However, if the bearish trend continues, it will fall to $5.

Next: How could selling pressure jeopardize MOVE’s recovery prospects?

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