Will Toncoin (TON) Price Rally After BIG Investment from Pantera

• 1 Toncoin has received a massive investment from Pantera Capital.
• 2 SlowMist founder recently warned of vulnerabilities in the Telegram ecosystem, affecting TON. 
• 3 Criticism of Hamster Kombat poses a bearish outlook for TON crypto, with potential regulatory challenges and decreased investor confidence.
• 4 Circulating supply is high, liquidity is low, with a drop in price and market cap.

Despite the larger market lagging in terms of price action, good news came for Toncoin. Dan Morehead, the founder of Pantera Capital revealed that Pantera made its, “largest investment in its history in TON.”

TON to Take off Amid Support From Pantera?

The recent announcement put TON in the spotlight but not much has happened in terms of price action. However, market experts expect the crypto to catch on to the bullish wave due to the announcement.

However, despite the positive news, TON made headlines and got some bad publicity.

Similarly, if the game is under observation by a nation’s military, TON could face regulatory challenges that might impede its adoption or could even lead to a worsened situation like a ban, this would directly affect the demand for the tokens.

A Warning That Came From SlowMist Founder

The founder of SlowMist raised concerns about the Telegram ecosystem’s vulnerability to exploitation, particularly within the TON ecosystem, where phishing is rampant. 

However, the users with two-step verification enabled are less likely to fall victim to these scams.

TON Statistics

Circulating supply exceeded 45%, with 2.457 million TONs in circulation out of a total of 5.108 million. However, liquidity was low at 1.47%, suggesting potential market instability. The price and market cap have seen a 1.84% drop today, with the price at $7.46 and the market cap at $18.349 Billion. The crypto ranked 8th on CoinMarketCap (CMC) at press time.

CMC data suggests that whale activity has decreased since early 2024, with no signs of growth, while retail participation has increased.

TON Technical Analysis!

Despite pessimistic news regarding TON and deteriorating major metrics, the technical charts exhibit bullish behavior. A higher-high swing price action was witnessed on the daily chart.

The long-term trend-based 50-day and 200-day EMAs are bullish, as the prices are trading on top of them, and the bands are acting as dynamic supports for them.

The other technical tools, including the MACD and RSI, highlight pessimism for the crypto asset. As MACD has formed a bearish cross, and RSI is below 14-SMA. Therefore, if the the price breaks the trendline below and surpasses the last swing low, it could turn bearish.

On the contrary, if TON surges from the upward trendline, it could go to a higher level once it crosses the $8.0 mark.

Summary

Criticism of Hamster Kombat poses a bearish outlook for TON crypto, with potential regulatory challenges and decreased investor confidence. Meanwhile, SlowMist founder warns of vulnerabilities in the Telegram ecosystem.

TON’s statistics show high circulating supply but low liquidity, with a drop in price and market cap. Despite negative factors, technical analysis remains bullish, with possible price surges if key levels are surpassed.

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Steve Anderrson

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.