Tether’s USDT supply is growing at its fastest rate on the Telegram-linked The Open Network (TON) blockchain. According to Tether’s transparency page, the stablecoin issuer has issued $580 million worth of USDT tokens on the blockchain, and its net circulation sits at $519 million as of press time. This milestone comes less than two months […]
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Despite the broader cryptocurrency market experiencing fluctuations and challenges, TON (The Open Network) has demonstrated remarkable resilience. Holding steady in the face of varying market sentiments, TON’s price stability has attracted attention from investors and analysts alike. This resilience raises a critical question, can TON maintain its strength and continue to thrive as the market potentially enters a tougher phase, often referred to as the crypto winter? TON’s price was trading at around $7.56 and was up by 4.03% with a market capitalization of over $18 billion and a trading volume of over $392 million as of the time of writing. There has been a 24-hour increase of 3.84% and 14.75% in TON’s market capitalization and trading volume respectively. This article examines the price action of TON in detail to assess if the market of the crypto asset will continue to be optimistic or whether further gains are likely before a decline. Analyzing TON’s Performance Amidst Crypto Fluctuations On the 4-hour chart, the price of TON is actively bullish, and an upward move toward the $7.7 resistance level is being attempted. This followed after the price failed to break below the bullish trend line. It should also be noted here that the asset is actively trading above the 100-day Simple Moving Average (SMA) which suggests that TON might extend its upward trajectory. With the signal line of the Relative Strength Index (RSI) trending above 50% after an unsuccessfully attempted drop below it, the indicator confirmed the above claim that the digital asset might extend its upward movement. An analysis of TON’s current price action on the 1-day chart reveals that the bulls are still very active in the market as the price experiences a strong rejection after attempting a drop toward the bullish trend line. It can therefore be said that TON is actively bullish and may extend its bullishness. Adding to this, is the 1-day RSI indicator signaling more positive movements for TON’s price as the signal line after a drop to the 50% level, is beginning to rise above it again. Can TON Withstand The Crypto Winter? Exploring the prospects and strategies of TON for enduring future market downturns, it was revealed that if the crypto asset continues to move upward and break above the $7.7 resistance level. It may move higher to test the $8.2 resistance level and probably move on to create a new all-time high if the price breaches this level. However, if it fails to break above the $7.7 resistance level, it will begin to move downward toward the $6.7 support level. Should the price breach this support level, it may move further to test the $6.05 support level and possibly other lower levels. Featured image from Adobe Stock, chart from Tradingview.com
Fast-rising blockchain platform The Open Network (TON) is under increasing threat from phishing attacks, according to Yu Xian, the founder of blockchain security firm SlowMist. Xian highlighted the growing prevalence of phishing links and bots on TON. He attributes this rise to the network’s open nature, which makes it a fertile ground for scammers. He […]
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Toncoin, the brainchild of messaging app giant Telegram, is making waves in the cryptocurrency world. A recent report by CryptoQuant, a leading crypto analysis platform, has identified Toncoin as one of the fastest-growing blockchain networks. While established giants like Bitcoin reign supreme in daily transaction volume, TON’s growth metrics paint a compelling picture of a network poised for a breakout. Related Reading: Follow The Whales? Arthur Hayes Buys Pendle, Token Soars 25% Transaction Velocity: A David-Vs-Goliath Story While Bitcoin processes a staggering $50 billion daily in transactions, TON’s daily volume sits between $5-$10 billion. This, at first glance, might seem like a David-and-Goliath scenario. However, there’s a crucial detail to consider: TON is only four years old, a mere pup compared to Bitcoin’s seasoned presence. This rapid climb in transaction volume for such a young network suggests a growing appetite for TON’s capabilities, particularly for facilitating large transfers of digital assets. On-chain metrics of $TON are going parabolic! “The transfer volume ranges between $5.0B ~ $10.0B. For comparison, #Bitcoin‘s average daily transfer volume is around $50.0B. This indicates that #TON has already achieved between 10% Bitcoin’s capacity.” – By @JA_Maartun Read… pic.twitter.com/56VjsAGOwL — CryptoQuant.com (@cryptoquant_com) June 20, 2024 Related Reading: Tron’s USDT Triumphs: Daily Volume Climbs Above $53 Billion, Dwarfing Visa Crypto analysis reveals a tenfold increase in TON token holders over the past year, skyrocketing from 2.9 million to over 30 million. This surge in user adoption suggests a growing trust in the network and could potentially pave the way for a more robust and vibrant TON ecosystem. A larger user base translates to a wider pool of developer talent, increased opportunities for innovation, and ultimately, a stronger network effect that attracts even more users. Messaging App Integration: A Catalyst For Crypto Adoption? The unique advantage TON possesses lies in its connection to Telegram, one of the most popular messaging apps globally, boasting over 900 million users. This integration has the potential to be a game-changer for crypto adoption. Challenges Ahead For Toncoin However, there are still hurdles to overcome. The regulatory landscape surrounding cryptocurrencies remains complex, and TON will need to navigate these challenges to achieve mainstream adoption. Additionally, questions linger about the scalability of the TON network. Can it handle the massive influx of users that Telegram’s integration might bring? Meanwhile, as TON boasts impressive growth in users and transaction volume, its token price hasn’t quite mirrored this enthusiasm. In the last 24 hours, TON has dipped 0.5%, and over the past week, it’s down 10.4%. Featured image from California Business Journal, chart from TradingView
Toincoin is a cryptocurrency that uses advanced blockchain technology to ensure efficiency and anonymity while enabling quick, safe transactions.
TON has experienced a dramatic price shift, falling below $7.7 three days after reaching an all-time high of $8.2. This sudden decline has caught the attention of investors and market analysts, raising concerns and sparking discussions about the potential implications of this sharp reversal. It also follows a period of intense volatility and highlights the unpredictable nature of the cryptocurrency market. With TON’s price trajectory undergoing significant fluctuations, it’s essential to examine the factors contributing to this downturn and explore what this could mean for the future of TON and its investors. This article delves into an analysis of the recent price movements and potential outcomes of TON’s sudden drop after setting a record high. As of the time of writing, TON has a market capitalization of over $18 billion, a trading volume of over $472 million, and a price drop of 4.03%, trading at around $7.3 over the past 24 hours. Despite a decline of 5.77% in market capitalization, the trading volume for TON is up by 40.90%. Market Volatility And Recent Price Movements For TON On the 4-hour chart, TON is currently attempting a break below the 100-day Simple Moving Average (SMA) after it has successfully broken the $7.7 support mark. A careful examination of the 4-hour Composite Trend Oscillator indicator suggests that TON may actively go bearish as the signal line and the SMA of the indicator are attempting to cross below the zero line. Meanwhile, on the 1-day chart, TON’s price is currently declining toward the $6.7 support mark. It can be observed here that after TON hit its all-time high of $8.2, the crypto asset has been dropping down with strong bearish momentum candlesticks. Additionally, the signal line and SMA of the Composite trend oscillator indicator on the 1-day chart are currently trending in the overbought section, with the signal line attempting a cross below the SMA, indicating a bearish move could be on the horizon. Thus from the 4-hour and 1-day price actions and formation of the indicator used for this analysis, it can be suggested that the price of TON may actively go bearish. Technical Analysis: Key Support And Resistance Levels TON’s abrupt fall below $7.7 after reaching an all-time high of $8.2 underscores the inherent volatility and unpredictability of the cryptocurrency market. Consequently, if the price of TON continues to move downward below the 100-day SMA toward the $6.7 support level and breaks below it, it may decline further to challenge the $6.05 support level. However, if TON’s price fails to break below the $6.7 support mark, it will begin to ascend toward the $7.7 resistance level again. TON could ascend further to challenge the $8.2 resistance mark and possibly move on to set a new high if this level is breached. Featured image from Adobe Stock, chart from Tradingview.com
Bitcoin is facing intense selling pressure, but charts suggest strong support at $64,500 and again at $60,000.
Telegram Stars can be swapped for Toncoin, an $18 billion cryptocurrency, on Telegram’s Fragment platform.
Notcoin became the fifth most-traded cryptocurrency on Monday, beating the trading volume of Circle’s USDC stablecoin, as social interest continues to drive its price action.
RNDR cheers Apple's brief mention of Render-powered 3D design software Octane.
Founder Pavel Durov outlined plans for the decentralized messaging app to tokenize stickers and power blockchain functionality on The Open Network.
Tether and Telegram’s Web3 ecosystem are coming closer together with USDT and XAUT launch on the TON blockchain.
The Open League program, announced on April 1, is bringing users on-chain in "unprecedented numbers," TON Foundation's Justin Hyun said.
Toncoin (TON) has defied recent market turbulence, reaching a new milestone with its price surging to an all-time high of $7.0. This nearly 25% increase has propelled Toncoin to become the eighth largest cryptocurrency by market cap, surpassing Dogecoin (DOGE) with a market cap of nearly $25 billion. Source: CoinMarketCap Related Reading: Dogwifhat To The Vet! Meme Coin Needs Medical Attention After Price Plunge — Analyst Toncoin: Powered By Strategic Partnership Toncoin’s recent momentum can be attributed in part to its partnership with HashKey, which has bolstered investor confidence. Since March, Toncoin has sustained considerable momentum, witnessing a surge of approximately 35% in the past week and a remarkable 136% increase over the past month. Technical Indicators Signal Potential Growth Technical analysis indicates a bullish trajectory for Toncoin, with its price following an ascending channel pattern. Despite brief downward movements, strong buying activity near the support line suggests resilience among investors. TON weekly price action. Source: CoinMarketCap Analysts predict a potential breakthrough of the $7.50 resistance line, potentially paving the way for a rally towards $10. Both moving averages are trending upwards, and the Relative Strength Index (RSI) remains positive, signaling favorable conditions for buyers. Toncoin has had a significant and rapid increase in value since the beginning of the year. The year-to-date (YTD) growth of this entity stands at 205%, surpassing the growth of Bitcoin (BTC) which is recorded at 57%. Catalysts Behind TON’s Growth There are numerous driving forces behind Toncoin’s explosive growth. Its distinct technology aids in the scalability of decentralized services constructed upon it, and its tight relationship with Telegram serves as an additional catalyst for its expansion. Bitcoin is now trading at $66.274. Chart: TradingView All told, the Toncoin ecosystem is home to a large number of aspirational users who have contributed to the development of a tight-knit community that powers and encourages network innovations. Telegram’s Influence Adds Momentum The influence of messaging app Telegram has also contributed to Toncoin’s momentum. Rumors of Telegram’s impending IPO and plans to integrate Toncoin into its platform have heightened investor optimism. Telegram’s CEO, Pavel Durov, recently disclosed the company’s receipt of offers totaling $30 billion, further fueling excitement. Additionally, Telegram’s decision to introduce advertisements within its channels, with rewards distributed in Toncoin, underscores the platform’s commitment to cryptocurrency integration. Related Reading: XRP Poised For Takeoff: Analysts Predict Huge Gains After Bitcoin Halving Toncoin’s surge represents a significant development in the cryptocurrency landscape. As the cryptocurrency continues to challenge established players and forge strategic partnerships, investors are reminded of the inherent volatility in the market. Even though Toncoin’s present path looks good, it is still important to be careful with risks. As people keep an eye on what’s going on, Toncoin’s path to continued growth stays a central issue in the world of digital assets, which is always changing. Featured image from Pexels, chart from TradingView
HashKey and the Foundation are focussing their partnership on Hong Kong in the first phase.
After pushing out Cardano's ADA, TON became the ninth-largest crypto by market cap. Can it maintain momentum to surpass Dogecoin next?
Telegram channel owners will start receiving 50% of all advertising revenue generated in their channels.
The gaming and metaverse-focused firm declined to provide details of the investment.