According to DemandSage, Telegram boasts approximately 950 million monthly active users and has raised over $4 billion since its launch.
The partnership between The Open Network (TON) and Tether has reached new heights as the USDT stablecoin experienced a massive surge in just a few months since the start of their collaboration. A remarkable feat that saw a massive increase in the USDT on TON hitting over $1 billion in only six months, an indicator of the capability of the emerging dynamic duo. Related Reading: Bitcoin Mining Costs Spike To Nearly $50K As Miners Look To AI For Survival Exponential Growth Analysts said that TON keeps on moving upward as many investors start to adopt Tether’s stablecoin. In a report, CryptoQuant said that in the last six months, USDT on TON rose by a whopping 670%. CryptoQuant added that TON only had $130 million worth of USDT in May 2024, but after half a year, the stablecoin ballooned to $1.02 billion. Analysts attributed the massive hike to the increasing investors’ preference to use TON, making the network a significant player in the stablecoin sector. They also believed that the stablecoin market will continue to thrive and flourish rapidly which will open opportunities for emerging blockchain networks. Currently, stablecoins have gained popularity worldwide. These digital monies are used to facilitate various activities such as cross-border transactions and personal payments. Data showed that for instance, USDT is being utilized by 10% of all commercial transactions conducted in South Korea. Low Transaction Fee CryptoQuant said that the TON blockchain is an excellent substitute for stablecoins because of its low transaction costs, saying that its “competitive transaction fees” fuel the increasing number of USDT transactions on TON. Analysts considered its remarkably low fees as one of its most significant advantages because it makes TON more attractive to users who conduct regular transactions. TON allows these users to save money while partaking in the cryptocurrency market. Statistics showed that transaction fees have decreased significantly in the past few months. The median transaction fee in June 2024 stood at $0.061, but it went down to $0.035 by October 2024. A significant reduction greatly contributed to the TON’s rapid adoption because users are seeing the network as an option for their transactions. Related Reading: Why One Analyst Says Now’s The Time To Buy XRP—Before It Hits $14 USDT Expected To Expand USDT stablecoin has emerged as a key player in the market today, reaching a USDT supply of about $120 billion. CryptoQuant predicted that the USDT supply would expand and could reach $200 billion in the bull rally. “This growth will likely drive further demand for fast and low-cost blockchain networks like TON, leading to continued growth in the amount of USDT on the TON network,” the analyst added. CryptoQuant also sees that TON will have the opportunity to expand in the stablecoin ecosystem by providing “robust infrastructure and competitive advantages.” Featured image from Medium, chart from TradingView
SafePal’s new Mini Wallet App will enable 950 million Telegram users to create individually owned and compliant crypto-friendly Swiss bank accounts, the firm said.
Toncoin, which is one of the best-performing cryptocurrencies in 2024, has also been affected in recent months by the widespread bearish climate of the market. The price of the altcoin seems to be recovering nicely after suffering an abrupt decline on Friday, October 26. As of this writing, the value of Toncoin stands around $4.92, reflecting an almost 3% upswing in the past day. However, this single-day action has had minimal impact on the token’s performance on the weekly timeframe. According to data from CoinGecko, the TON price is down by nearly 7% in the past week. What Does The Declining Sharpe Ratio Mean? In a recent Quicktake post on the CryptoQuant platform, an analyst with the pseudonym Darkfost explained the relevance of the “Sharpe Ratio” metric to cryptocurrency price. According to the crypto pundit, the Sharpe Ratio for Toncoin has been in decline in recent weeks, signaling a period of decreased risk. Related Reading: Dogecoin Price Flashes Bullish Pennant On Daily Heikin Ashi Chart, What This Means The relevant metric here is the Sharpe Ratio, which assesses the risk-adjusted returns of an investment. This indicator basically measures how much profit an investment offers per unit of risk (considering risk is quantified by volatility). Typically, a rising Sharpe Ratio signals a higher risk-adjusted performance. On the other hand, when this metric is in a downward trend, it implies that the coin is in a “lower-risk zone” and profits are becoming less significant. According to Darkfost, it appears that both volatility and risk are decreasing for Toncoin, as its Sharpe Ratio continues to fall. With the altcoin showing reduced sensitivity to price fluctuations, it offers a more favorable risk-return balance and a less risky market for investors. A less volatile market condition may be ideal for Toncoin investors to accumulate tokens with less exposure to abrupt price movements. The Quicktake analyst, however, warned investors to approach the market with caution as the “lower-risk zone” may not be completely safe. Darkfost specifically advised investors to still watch out for Bitcoin’s price movements, as the market tends to respond to swings from the premier cryptocurrency. Toncoin To Overtake Ethereum In This Metric Before 2025 In a separate Quicktake post, an analyst has projected Toncoin to overtake Ethereum in terms of adoption before the end of 2024. According to Maartunn, the number of TON holders, which currently stands at 112 million, is expected to surpass ETH holders by December 20, 2024. This projection is based on Toncoin’s recent growth spurt, which has seen the network gain an average of 500,000 new holders daily over the past month. According to the Quicktake analyst, the number of TON holders could exceed that of Ethereum (currently 137 million) if this trend continues. Related Reading: Would Bitcoin Reclaim $70,000 Soon? Key Data Suggests New Investors Hold the Key However, Maartunn noted that this prediction doesn’t account for the potential of a slowdown in TON’s growth rate and the continuous growth of ETH holders. The analyst acknowledged that while these two factors are only variables, they may still influence the projected dates. Featured image from Unsplash, chart from TradingView
Toncoin (TON) has undoubtedly been one of the best performers in the cryptocurrency market in 2024, enjoying a meteoric rise in the first half of the year. However, the altcoin has struggled to keep up the pace just as the other large-cap assets in recent months. In its latest downturn, the Toncoin price lost its hold above the psychological $5 level for the first time in over a month on Friday, October 25. However, a popular analyst on X has predicted that the cryptocurrency may not stay beneath this level for long. Analyst Sounds Buy Alarm For TON — Here’s Why In a recent post on X, prominent crypto analyst Ali Martinez shared that the price of TON might be gearing for a rebound more quickly than anticipated. This positive projection came after the altcoin succumbed to intense bearish pressure to fall below $5. Related Reading: Dogecoin Price Flashes Bullish Pennant On Daily Heikin Ashi Chart, What This Means According to Martinez, the “Tom Demark” (TD) Sequential has sounded a buy alarm for the Toncoin price on its 12-hour chart. The TD Sequential, an indicator used in technical analysis, can help traders identify potential points and times of trend exhaustion and price reversal. The TD Sequential is made up of two major phases known as the TD Setup phase and the TD Countdown phase. As shown in the chart below, the price of TON on the 12-hour timeframe appears to have completed the TD Setup phase. The Setup phase comprises nine candles of the same polarity (bearish or bullish). In a bullish Setup phase, the starting number “1” is plotted on a candle that closes higher than the close of the candle four periods prior. A bearish Setup phase, on the other hand, is marked by the starting number “1” on a candle that closes lower than the close of the candle four periods before. A possible point of price reversal can be identified when the TD Sequential plots figure “9” on the top or bottom of a candle in a bullish or bearish trend. As seen in the Toncoin 12-hour chart, the figure “9” appeared on the last bearish candlestick, meaning that altcoin might be gearing up for a rebound. If this projection does hold, investors could see the TON price return to $5 as soon as possible. Toncoin Price At A Glance As of this writing, the price of Toncoin stands at around $4.74, reflecting a disappointing 7.4% decline in the past 24 hours. This brings the altcoin’s wobbly performance on the weekly timeframe to a 10% price fall. Related Reading: Tron Energy Needs Rise 100% In 3 Months: New All-Time High Incoming? Featured image from iStock, chart from TradingView
According to Ankr, the integration will eliminate node management for developers, allowing faster development into the TON network.
Selling from ETH ICO participants and a lack of demand for the spot Ether ETF could be contributing to Ethereum’s price downside.
On-chain data shows that Toncoin (TON) has recently become the number one cryptocurrency in this network activity-related indicator. Toncoin Has Seen A Sharp Surge In Active Addresses Recently According to data from the market intelligence platform IntoTheBlock, Toncoin has recently increased active addresses. The “Active Addresses” here refers to an indicator that keeps track of […]
Telegram’s “People Nearby” feature has been suspected of being a way for state authorities to locate and track dissidents.
Telegram’s “People Nearby” feature has been suspected of being a way for state authorities to locate and track dissidents.
The Telegram founder is currently prohibited from leaving France and must check in with law enforcement on a weekly basis.
As Telegram CEO and founder Pavel Durov is now released on a $5.6 million bail, France, as an EU member state, continues working on the case.
The TON Foundation assured users that all crypto transactions would be processed and no assets would be lost due to the brief block production disruption.
French President Emmanuel Macron has been widely criticized by tech executives such as Elon Musk and Rumble CEO Chris Pavlovski.
TON, the native currency of Toncoin, a blockchain network, is under immense selling pressure. Despite maintaining its spot in the top 10, the recent dump has sowed doubts and widened cracks in an otherwise solid uptrend. TON Is Down, Liquidity Provider Sells According to CoinMarketCap, TON is down nearly 18% in the past trading week […]
The Telegram team disputes reports that Durov had reason to avoid traveling within Europe.
The arrest of Telegram's CEO highlights the vulnerability of cryptocurrencies to regulatory actions, impacting investor confidence and market stability.
The post Toncoin drops 18%, Notcoin tumbles following arrest of Telegram CEO Pavel Durov appeared first on Crypto Briefing.
The price of cryptocurrency Toncoin (TON) has experienced a steep decline following reports of the arrest of Telegram CEO Pavel Durov. Toncoin has been one of the best-performing digital assets in 2024, however, the altcoin has faced a rather turbulent period in the last two months. Related Reading: Toncoin Rally Thwarted As TON Slips To $6, Can Bulls Prevent A Bearish Breakdown? Toncoin Reacts To Telegram CEO’s Detention According to French source TF1 TV on Saturday, Telegram founder and CEO Pavel Durov was arrested at the Le Bourget airport in France after alighting from his private jet. Durov, a 39-year-old Russian-born Emirati, has been reportedly detained due to a “lack of control” on Telegram which French authorities believe has fostered the growth of criminal activities on the messaging app. So far, this arrest has drawn much criticism from the tech community including many crypto users who have described such action as the French government attempting to force censorship on a free social media platform. Notably, Toncoin, the native token of The Open Network (TON) and a cryptocurrency integrated with the Telegram app recorded a 15.67% decline in market price following news of Durov’s arrest. Toncoin, which was to be initially launched by Telegram before an intervention by US regulators, plays various critical roles in the messaging app in compensating developers, buying ads, and even acquiring a premium subscription. Therefore, the bearish sentiment generated by the Telegram CEO’s detention pulled TON’s market price to as low as $5.52, a price level last seen in early August. Nevertheless, the altcoin appears to have found some stability as it gently moves upwards into the $5.70 zone. As earlier stated, TON has been one of the most profitable assets in 2024, thus this price dip may not attract much concern from long-term investors. According to data from CoinMarketCap, TON gained by over 240% in the first six months of 2024 achieving an all-time high of $8.24, alongside a placement in the top 10 cryptocurrencies based on market cap. While the altcoin has not shown similar growth levels in Q3 2024, the consistent growth in on-chain metrics e.g. active network users spell a rise in interest which could significantly affect price growth. TON Network Calls For Calm Amidst Durov Arrest Commenting on Pavel Durov’s sudden arrest, the management of The Open Network has assured all users the blockchain remains functional while affirming support for the embattled Telegram CEO. With an online protest already happening on the X social media platform, the TON management has also called for a calm and united approach to engaging authorities and resolving the matter at hand. At the time of writing, TON trades at $5.72 with an astounding 504.56% increase in daily trading volume. TON ranks as the 9th largest cryptocurrency with a market cap of $1.57 billion. Related Reading: Crypto Analyst Says Telegram-Based Notcoin Is Ready To Fly, Here’s How High Featured image from The Tech Report, chart from Tradingview
Reports are trickling in via social media and mainstream news outlets, but so far, there hasn’t been any official confirmation.
Toncoin (TON), the cryptocurrency associated with the popular messaging app Telegram, is making headlines as its Masterchain achieves a record-breaking 946 active addresses per day. This achievement has driven a nearly 9% increase in Toncoin’s value, standing out in contrast to the broader market’s downward trend. Maartunn, an analyst at CryptoQuant Research, claims that since July 2021, the TON Masterchain’s active address count has skyrocketed more than sevenfold. This notable uptick points to growing blockchain adoption, which drives more transactions and general network activity. User Activity Boosts Toncoin Demand The rise in active addresses highlights how continuously the TON ecosystem is building. Expanding the network allows for more diverse distributed apps (dApps) and work chains, which shows healthy blockchain development. Related Reading: Toncoin Rally Thwarted As TON Slips To $6, Can Bulls Prevent A Bearish Breakdown? Due to extensive inflow, the demand for TON coins has increased. More network activity affects the general economic condition of the TON blockchain, which is usually linked to a surge in token value. It’s important to note that this number reflects activity on the Master chain alone despite the seemingly modest figure of 946 daily active addresses. The TON blockchain operates with multiple sidechains, named workchains, which handle most data management. The Masterchain primarily focuses on processing messages and transactions rather than storing data. This result shows a growing interest in the TON network, as increasing user and developer involvement usually stimulates the demand for TON tokens. TON Price Outlook The price of Toncoin (TON) is down 2.8% at the time of writing, trading at $6.67. Since the price drop, the trading volume has also dropped by 23% to about $227 million. Toncoin is the 8th largest cryptocurrency, with a market cap of $16.8 billion. Analysts pay close attention to the $7 level for Toncoin, a key support level. If Toncoin goes above this mark, it might keep bullish momentum. Examining the TON spike of 26% over the next two weeks can predict its yearly surge of more than 400%. However, if the price falls below $6.43, it could decrease, testing support around $6.04. According to IntoThe Block analytics, the TON network has surpassed 39.5 million addresses. This milestone highlights its growing popularity and strong network, attracting institutional and retail investors. Related Reading: Toncoin Rally Above 4-Hour 100-Day SMA Puts TON On The Path To $7.6 The derivatives market in TON is not trending positively. Futures traders are looking for short bets. Coinglass data shows the coin’s funding rate has been mostly negative across exchanges this month. In the last 24 hours, the price of TON rotated from $6.74 to $6.93. Although the market is still cautious, buyers are watching for signs that it might be starting to an upward trend. Featured image from ideogram, chart from TradingView.com
Growth in its DeFi ecosystem and the upcoming Binance Launchpool addition have put wind in Toncoin’s sails.
TON and Pyth’s collaboration brings institutional-grade real-time price feeds to TON developers, enhancing DeFi innovation.
BTC beats the CoinDesk 20 during the Asia trading hours, while traders remain bullish on TON because of its GameFi integration.
Hamster Kombat has attracted more than 300 million users to the game, setting records in Web3 game development.
Toncoin’s recent bullish momentum has faced a sudden reversal, as the cryptocurrency has slipped back to the critical $6 level. After showing promising signs of a rally, TON faced increased selling pressure, forcing it to retreat to this key support zone. The question here is, Can the bulls defend this level and prevent a deeper bearish breakdown, or is Toncoin poised for a further decline as bearish sentiment grows? Addressing this subject, this article seeks to provide a detailed analysis of Toncoin’s recent price action, focusing on the sudden halt in its bullish momentum and its retreat to the critical $6 support level. Additionally, it will assess what to watch for in Toncoin’s price movements and anticipate its next moves. Toncoin has dropped by 5.19%, currently trading around $6.27 over the past 24 hours. Its market capitalization stands at over $15 billion, with a trading volume exceeding $373 million at the time of writing. TON’s market cap has decreased by 5.21%, while its trading volume has surged by 43.65% The $6 Battleground: Will Bulls Stand Strong? Currently, the price of TON on the 4-hour chart is demonstrating a bullish comeback after hitting the $6 mark and is attempting to move above the 100-day Simple Moving Average (SMA) toward the $6.7 mark. This, therefore, suggests that the bulls are gradually gaining strength over the bears and could further drive the price higher. Additionally, an analysis of the 4-hour Relative Strength Index (RSI) shows that the signal line of the indicator after a successful drop below 50%, is currently rising again toward it, suggesting that buying pressure is increasing and the asset might experience further upward movement. On the 1-day chart, although Toncoin is still trading below the 100-day SMA, the price is currently attempting an upward move toward the $6.7 resistance level after a bullish rejection at $6, which means that the bulls are currently gaining control and could potentially push the price higher. Finally, on the 1-day chart, the RSI signal line is attempting a climb above 50% from the oversold zone, indicating growing bullish momentum for the cryptocurrency. Bullish Defense Or Bearish Takeover: What’s Next For Toncoin? Recent trading activities show that Toncoin has demonstrated bullish defense at the $6 mark and is currently attempting to move toward the $6.7 resistance level. If the crypto asset reaches this level and breaks above, it could lead to a further bearish move toward the next resistance level at $7.7 and possibly other levels beyond. However, if there is a bearish takeover and TON’s price breaks below the $6 mark, the cryptocurrency may continue to decline toward the $4.6 support mark. Should the price fall below this support, it could drop further to test the $3.3 support level and continue to lower support ranges on the chart if the $3.3 price target is breached. Featured image from Adobe Stock, chart from Tradingview.com
Toncoin (TON), the native token of The Open Network, has been one of the best performers this cycle. The token registered a 200% surge in the last six months, flipping Dogecoin (DOGE) by market capitalization. As a result, the crypto exchange Binance announced the listing of TON on August 8, which propelled the price by over 10%. Related Reading: Ethereum On The Move: Dormant ETH Wallets Linked To $4 Billion Scam Awaken Toncoin Soars 14% After Binance Listing On Thursday, Binance, the largest crypto exchange by trading volume, announced it would list TON on the trading platform. The exchange stated that the seed tag, used for projects with higher volatility and risks than others, would be applied to the token. Binance announced it would open trading for four new spot trading pairs on August 8 at 10:00 UTC. The pairs include TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY. Additionally, the exchange added Toncoin to Binance Simple Earn, “Buy Crypto,” and Binance Convert. Meanwhile, TON withdrawals won’t be available until Friday. The telegram-integrated token will also be added to Binance’s Margin and Auto-Invest services on Monday, August 12. Following the listing, Toncoin saw an initial 14% increase, reclaiming the $6 support zone. The token surged to the $6.4 area before retracing to the $6.3 mark. Moreover, TON’s market activity increased by over 239% in the last 24 hours, with a daily trading volume of $1.3 billion. TON Tests Key Levels Following the recent surge, investors and market watchers have weighed in on TON’s price action. Trader AltCryptoGems highlighted that Toncoin was “outperforming today” with a “very nice pump from support.” Per the chart, TON bounced from the $5.4 support area to the $6.3 resistance level. If the token fails to reclaim this level, its price could lose momentum and dip to the previous support zone or lower. However, a successful retest of the key $6.3 mark could drive the price above $6.4. This could lead the token to break out of the downtrend line and propel the price towards TON’s ATH. The trader suggested avoiding “chasing green candles, especially above key resistance levels.” Instead, he advised that investors monitor the token’s reaction as “it is an interesting area to do some business.” Similarly, Altcoin Sherpa warned investors about TON despite being bullish. To the analyst, it’s “still a great chain/project.” However, Sherpa considers that the project needs more adoption even if “there are a lot of builders going on there lately.” “I think TON is still bullish for this cycle but wouldn’t be rushing to buy at current prices,” stated the analyst. Related Reading: Solana (SOL) Bounces 30% Amid Market Recovery, Analysts Remain Bullish Toncoin displayed one of the strongest performances this cycle so far, reaching its ATH of $8.25 two months ago. The token has neared the $6.4 resistance level, hovering between the $6.35 and $6.38 price range in the past hour. As of this writing, TON is trading at $6.37, a 14.8% increase in the last 24 hours. Featured Image from Pinterest, Chart from TradingView.com
Tonkeeper’s Signer app enhances security for users’ crypto assets by protecting them against hacks, scams, and mistaken transactions.
Trust Wallet’s collaboration with The Open Network aims to leverage Telegram’s user base to enhance GameFi and DApps integration, promising seamless TON token transactions.
Due to organic, "market-generated" growth, the Oracle solution could witness another tenfold increase in trading volume.
As the TON blockchain is open-source and permissionless, individual users and projects must be careful to ensure their own safety.