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- 1 Toncoin (TON) price is trading above the key moving averages showcasing bullishness on the daily chart.
- 2 In the last 3 months, TON has surged by almost 156% showcasing buyers’ presence in the crypto asset.
- 3 Analysts revealed whale activity in the TON.
Crypto expert ALI revealed in his latest post on X that the number of huge Toncoin transactions (over $100,000) has spiked by 237.5% in the past 24 hours. This significant increase in TON whale activity indicates a strategic shift in their investment style and positions.
The Significant TVL Growth On TON
Toncoin Total Value Locked (TVL) has surged from $17.81 Million to $376 Million over the past 4 months.
Source: Defillama
High TVL in the Toncoin defines more capital is locked in the DeFi protocol, and investors can enjoy more substantial benefits and gains. Moreover the higher the TVL the more trustworthy the platform it is considered.
On Feb 01 the Toncoin TVL was 17.81 Million increased to 376.26 Million at the time of writing showcasing the TON’s growth in the last 4 months.
Moreover, the on-chain activated wallets are surging and their activation is also on incline. The number of daily active wallets on Toncoin is also on the rise in may month and is near 568,271. Meanwhile, the number of TONs in the liquid staking protocol spiked after a sudden dip and reached 50,027,986 at the time of writing.
Will Toncoin Price Smash the $10 Mark
Toncoin (TON) price is in the bullish zone and has showcased bullish momentum for the past trading sessions. Meanwhile, the coin is sustaining gains above the important exponential moving.
The Toncoin price has been performing in an uptrend. The price formed multiple higher-high structures and resumed to maintain above major EMAs. The recent TVL growth and whale activity suggest the stability and trust of the Toncoin community in this project.
At press time, the Toncoin (TON) price was trading at $6.903879385 with an intraday gain of 2.52%, suggesting bullishness on the daily technical charts. It has a monthly return of 20% and 193% yearly. It has a market cap of $16.66 Billion.
Over a week, Toncoin has experienced an increase of approximately 8.22%. Moreover, the coin has grown by almost 20% in a month, and 155.75% in the last 3 months. It gave an outstanding return of 189.53% in the last 6 months and has grown 193.66% year to date. The data highlights the strength in the price.
TON price may find support at $6.07 and $4.66, where it could bounce back or stabilize. The crypto price may face resistance at $7.66 and $8.00, where it could reverse or consolidate.
Summary
The volume and price charts displayed that the trading volume has increased in the last few days and the price is on the rise. In the last few days, the TVL has grown significantly. Hence, the price is expected to grow in the long term.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
