News View Non-AMP

TON Price Soars Past Dogecoin, Eyes XRP’s Spot in Top 10

Published by
Zameer Attar

The Telegram social media platform is emerging as a significant player in the web3 sphere through The Open Network (TON). Recently, Toncoin (TON) has made significant strides by surpassing both Cardano (ADA) and Dogecoin (DOGE), the beloved meme coin, in terms of market share and daily average trading volume.

Toncoin’s market cap has soared to approximately $24.45 billion, setting it apart from its competitors with a notable difference of roughly $4 billion compared to Ripple-backed XRP. Despite this achievement, Dogecoin maintains its strong following with an impressive 7.3 million non-zero addresses and a daily average trading volume of around $3.76 billion, significantly higher than Toncoin’s daily average trading volume of about $690 million.

What’s Making Ton Tick?

The Toncoin ecosystem has been growing like wildfire, fueled by the hundreds of millions of Telegram’s daily active users. As of this report, the Toncoin network had a total value locked (TVL) of about $156 million, having already raised over $1.7 billion from key investors like DWF Labs.

The Toncoin network is committed to democratizing smart contracts through its decentralized financial (DeFi) platforms. Moreover, the Toncoin network is continually supporting web3 developers to build Dapps relatable to daily users. 

Did You Know? Toncoin (TON) Price Soars To New All-Time High! Here’s What’s Next

TON Price Targets

With a fully diluted valuation reaching an impressive $35 billion, Toncoin recently achieved an all-time high (ATH) of around $7.6. As it continues its journey in the price discovery phase, analysts anticipate further gains in the weeks and months ahead. Bolstered by heightened demand from institutional investors and the growing Telegram crypto community, Toncoin’s ecosystem is poised for sustained growth.

Future Growth Incoming?

Technical indicators paint a bullish picture for Toncoin, with the weekly Relative Strength Index (RSI) against the US dollar consistently above the 70 level. From an Elliott wave principle perspective, Toncoin’s price trajectory on the weekly time frame indicates it is in the third wave, a phase typically characterized by extended rallies, signaling a rise soon!

This Might Interest You: Crypto Expert Lark Davis Reveals 9 Altcoins Set for 9x Growth in 2024

Zameer Attar

Zameer is a financial analyst and writer with a particular interest in cryptocurrency markets. He has been studying cryptocurrencies and their market behavior for several years and deeply understands the factors that affect the price of cryptocurrencies. His expertise lies in his ability to use both technical and fundamental analysis to make informed predictions about the future direction of cryptocurrency prices. He has a strong understanding of market sentiment and uses this to inform his trading decisions and price predictions.

Recent Posts

Dogecoin Price Analysis: DOGE Faces Another Selloff as Altcoins Weakens Against Bitcoin

The wider crypto market may be attempting to follow the Gold price but the short-term…

April 22, 2025

Circle Payments Network Unveiled: Here is What You Need to Know

The Circle Payments Network will leverage regulated stablecoins led by USDC and EURC. The CPN…

April 22, 2025

Avalanche Card Unveiled: Will It Spark Bullish Momentum for AVAX?

The Avalanche ecosystem has grown significantly in the past year backed by institutional investors seeking…

April 22, 2025

Coinbase Derivatives Announces Listing of CFTC-Regulated Futures for XRP: What Next?

Coinbase’s listing of CFTC-regulated futures for XRP follows Bitnomial’s launch of a similar product last…

April 22, 2025

This $0.025 DeFi Project Is Gaining Real Traction — Will It Be the Next Big Crypto of 2025?

As the market warms up and new narratives begin forming around decentralized finance, one project…

April 21, 2025

DOGE to $4? Dogecoin Plots a Comeback, While $0.20 Rival Token Shows Prospects of a 14560% Surge

Dogecoin has shown a 9.74% daily growth to reach $0.2021 in trading value and experts…

April 21, 2025