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

Toncoin (TON) is one of the fastest-growing layer one ecosystems backed by reputable web2 and web3 investors. The Toncoin network, with more than $162 million in Total Value Locked (TVL), is expected to grow further, backed by the DWF Labs and the $1.71 billion already raised. Furthermore, the Toncoin network is leveraging the hundreds of millions of global Telegram users.

Recent developments have unveiled groundbreaking innovations within the Toncoin ecosystem. Oyster Labs’ introduction of the Universal Basic Smartphone (UBS), powered by the Ton blockchain, marks a significant stride forward. Concurrently, the Ton blockchain has witnessed a surge in tap-to-earn meme coins, led by the likes of Notcoin (NOT) and the buzzworthy Hamster Kombat.

Toncoin Market Check

Toncoin boasts a fully diluted valuation of approximately $38 billion and a daily average traded volume of around $751 million, solidifying its position among the top digital assets. Surpassing Cardano (ADA), Toncoin now sets its sights on outpacing the iconic Dogecoin (DOGE) in the market.

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Toncoin’s mission extends beyond financial milestones, aiming to democratize smart contracts on a global scale. Leveraging the expansive reach of the Telegram platform, Toncoin positions itself in direct competition with formidable US-based entities like Elon Musk-backed X platform and Meta’s suite of social media platforms.

To foster community engagement, the Ton blockchain incentivizes Telegram users with over $150 million in TON coin for participating in various on-chain activities.

TON Price Analysis and Expectations

Following a bullish breakout earlier this year, Toncoin’s trajectory has been resolutely upward. Fueled by burgeoning demand, its price soared to a new all-time high, marking the onset of a price discovery phase. Notably, the weekly Relative Strength Index (RSI) breached the 70 level for the first time, signaling robust momentum.

With bullish sentiments pervading the crypto sphere, Toncoin’s price trajectory appears poised to breach the $10.27 mark, aligning with the 1.618 daily Fibonacci Extension, in the foreseeable future.

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