Bitcoin picked up momentum and soared above $84,500, pulling several altcoins higher.
Bitcoin hit a new all-time high at $77,000, boosting buying in several altcoins, which have also broken above their respective resistance levels.
Crypto markets cheered Donald Trump’s win by pushing Bitcoin to a new all-time high above $75,000, signaling the start of the next leg of the uptrend.
Markets have started to sell-off, and Bitcoin needs to hold $70,000 for the BTC and altcoin rally to continue.
Bitcoin’s shallow pullback shows buyers are not rushing to the exit and increases the likelihood of a rebound to new all-time highs. Will altcoins follow?
Bitcoin ETFs are recording solid buying, a sign that traders believe to be an indicator that BTC will break through the range highs.
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
Bulls aim to knock out Bitcoin’s all-time high before the US elections wrap up. Will altcoins follow?
Tron is now in the top 10 blockchains by market cap, flipping Toncoin and Cardano. While there were initial doubts about the network dying a natural death due to the then “superior” competitor Ethereum in the first few years, the smart contracts platform has surpassed expectations. Tron Energy Demand Doubles In 3 Months At spot rates, is TRX likely to print fresh all-time highs, and the mainnet is also thriving. According to IntoTheBlock, the Tron energy requirements have expanded 100% in the past three months. Related Reading: $200,000 Bitcoin In 2025? $791 Billion Asset Manager Calls It ‘Conservative’ Experts say the rapid increase in Tron energy indicates growing network activity and rapid adoption. Like Ethereum and other modern chains, Tron is energy efficient and relies on validators for transaction processing. However, in Tron’s case, energy is useful when executing smart contracts on the mainnet. As more people deploy meme coins or launch DeFi dapps, the mainnet’s “fuel” demand also increases. Rising resource needs push Tron energy to fresh levels. By how Tron is designed, more energy is needed during periods of high demand to prevent gas fees from spiking in case transactions are congested. That energy has been rising in the past few months is not surprising. Not only does Tron boast of a thriving DeFi ecosystem, but it also has a vibrant meme coin scene. Ecosystem Boom Driven By Meme Coins: TRX Priming For New All-Time Highs? DeFiLlama shows that all Tron DeFi dapps manage over $7 billion of assets. On the other hand, the recent launch of SunPump, a meme coin launchpad in August, has seen over 91,000 meme coins deploy on the network. Looking at Dune, over 1,700 tokens have been listed on Sunswap. Related Reading: Bitcoin Price Retests Bullish Channel At $65,000, Analyst Reveals What’s Next Coincidentally, the spike came with the activation of SunPump in August. As of October 24, SunPump has helped Tron generate over $5.4 million in revenue, looking at Dune data. Others came from smart contract deployments via gaming, DeFi, and other diverse dapps on the platform. TRX is trading at around October 2024 highs at press time, defying gravity. Interestingly, despite the momentum challenges Ethereum faces, TRX, on the other hand, is less than 4% away from all-time highs. If bulls build on October 24 gains, the coin may easily break August highs, printing a new all-time high in Q4 2024. Feature image from DALLE, chart from TradingView
Bitcoin bulls are keen to hit $70,000, but a selloff at this level could trigger a sharp downside in BTC and altcoins.
Bitcoin’s rise above $66,500 could open the doors for a rally to new highs and altcoins look set to follow.
Bitcoin and altcoins made a strong comeback on Oct. 11, indicating solid buying at lower levels.
Altcoin prices crumbled as Bitcoin fell to $60,000, but charts suggest buyers could step in soon.
Bitcoin’s break above $65,000 and solid buying in-the-spot BTC ETFs have traders convinced that the bull market is back in full swing.
Bitcoin faced selling near $64,000, but buyers have managed to keep the price above the short-term holder realized price near $62,000, which is a positive sign.
Bitcoin faced selling near $64,000, but buyers have managed to keep the price above the short-term holder realized price near $62,000, which is a positive sign.
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 […]
Toncoin (TON), the native cryptocurrency of The Open Network blockchain, has experienced a challenging week, further compounded by a broader market downturn and the recent arrest of Telegram CEO Pavel Durov. Currently trading at $4.62, Toncoin is below a critical support level that analysts believe is essential for a price recovery. Toncoin Faces Critical Support Challenge In a recent social media post on X (formerly Twitter), crypto analyst Ali Martinez has highlighted the urgency for Toncoin to reclaim the $4.70 mark soon. Failure to do so could trigger a significant correction of up to 45%, potentially dropping the token to around $2.60. Martinez noted that the token’s three-day chart is forming a head and shoulders pattern, which indicates that if Toncoin cannot consolidate above the $4.70 level, it may invalidate the bullish outlook and lead to a steep decline. Related Reading: Bitcoin Analyst Points To $55,000 As Potential Bottom – US Liquidity The Key The backdrop to this turmoil includes the recent arrest of Pavel Durov in France at the end of August. Reports indicate that Durov was taken into custody for initial questioning related to serious allegations against Telegram, including claims that the platform facilitated criminal activities such as fraud, drug trafficking, and the dissemination of child pornography. Additionally, the app has faced criticism for its perceived lack of content moderation and alleged connections to extremist groups. Durov’s arrest has sparked a wave of backlash from Russian politicians, some of whom suggest that the detention may be politically motivated. Tatyana Moskalkova, Russia’s top human rights official, claimed that French authorities aimed to undermine Telegram, a platform known for its emphasis on privacy and free speech. Potential Ban Looms For Telegram The legal troubles for Telegram extend beyond France, as the Indian government has initiated an investigation into the messaging app. Concerns have arisen regarding its use for criminal activities, including extortion and gambling. Allegations suggest that Telegram’s peer-to-peer communication features have been exploited by “bad actors” to facilitate illicit actions. Complicating matters, Telegram lacks a physical office in India, which hampers the government’s ability to regulate and investigate the platform effectively. Related Reading: Analyst Says Litecoin Will Outperform Bitcoin And Large Cap Cryptos With 11,000% Breakout Depending on the investigation’s findings, Telegram could face significant repercussions, including a potential ban in India. This ongoing scrutiny of the platform and its leadership poses additional challenges for Toncoin, as market sentiment continues to be influenced by developments surrounding Telegram and its CEO. It remains to be seen whether positive outcomes on these legal matters could provide the much-needed catalyst for TON to rally in the coming days, as the market continues to show a lack of demand and buying pressure led by the largest cryptocurrencies on the market. Featured image from DALL-E, chart from TradingView.com
Bitcoin’s failure to maintain above $60,000 is pulling altcoin prices toward their recent swing lows. What will it take to turn the market around?
Toncoin reached a significant milestone with 1.1 million daily users, but its market experienced turbulence following the arrest of Telegram CEO Pavel Durov.
Telegram-linked cryptocurrencies are down this week after Pavel Durov, the founder and CEO of the messaging app, was arrested.
Following the recent arrest of Telegram CEO Pavel Durov in France, the messaging platform is facing escalating legal challenges across multiple countries. Local media reports indicate that Indonesia is contemplating a ban on Telegram due to its alleged facilitation of pornography and online gambling activities. Global Scrutiny On Telegram According to a local media report, Indonesian Communication and Informatics Minister Budi Arie Setiadi has voiced strong concerns, stating that the Ministry has already warned Telegram about its content moderation practices. Per the report, Minister Budi Setiadi emphasized that if evidence of illegal content is confirmed, the government would take decisive action to block the platform. This intensifying legal scrutiny comes on the heels of a troubling incident in Central Java, where a 20-year-old resident, identified as “MAFA,” was arrested for allegedly managing a child pornography group on Telegram. The Indonesian authorities are reportedly monitoring the platform for further violations. Related Reading: Solana Price (SOL) Slips: Will a Break Below $140 Trigger More Downside? In France, Durov’s legal troubles have deepened since his arrest at Le Bourget Airport. The Paris prosecutor’s office has reported that he faces 12 serious charges, including complicity in child pornography sales, drug trafficking, fraud, and failure to cooperate with investigations. Durov has since been granted bail under strict conditions: he must pay €5 million, report to police twice a week, and remain within French territory. Paris prosecutor Laure Beccuau confirmed that there are sufficient grounds to investigate Durov on all charges related to his initial arrest. However, the legal challenges for Telegram extend beyond France and Indonesia, as the Indian government has also launched an investigation into the platform. As reported by NewsBTC, authorities in India are examining claims that Telegram is being used for criminal activities, including extortion and gambling. Similar to investigations underway in France and Indonesia, the messaging platform could face potential bans in these countries. TON Price Continues To Struggle Toncoin (TON) plunged about 20% after Durov was arrested outside Paris on August 24, before paring some of those losses. TON’s total value locked (TVL) has fallen to $357 million from a high of $769 reached in July, according to data provider DefiLlama. In the wake of this price crash, certain Toncoin supporters perceived an opportunity amidst the chaos. DWF Labs, a crypto market maker with a stake in the token, seized the moment to invest “millions” of dollars in Toncoin following the decline, as confirmed by co-founder Eugene Ng to Bloomberg. Related Reading: Bitcoin Forecast: Expert Reveals 4 Reasons To Be Bullish On Q4 Despite the efforts to stabilize Toncoin’s value, the cryptocurrency has struggled to regain its footing. The TON price has continued its downward trajectory, showing no signs of recovery with a further 1% drop in the 24-hour timeframe. The token has sustained substantial losses over the past month, amounting to nearly 17%, currently trading at $5.54. In case of further price retracements, bullish investors will need to keep a close eye on the $5.15 and $4.87 marks, the largest support levels for the token on its daily TON/USDT chart. Featured image from DALL-E, chart from TradingView.com
The Open Network is back online again after the demand for a new memecoin called DOGS caused the network to go down twice in 36 hours.
Bitcoin’s fall below $60,000 signals near-term weakness, but longer-term investors continue withdrawing coins from exchanges, signaling a bullish outlook.
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.
The Indian government has launched an investigation into the social media platform Telegram over concerns that it is being used for criminal activities such as extortion and gambling. The probe follows the arrest of the app’s CEO Pavel Durov in France over the weekend. Telegram Faces Potential Ban In India According to recent reports by Indian media outlets, the investigation is being led by the Indian Cyber Crime Coordination Centre under the Ministry of Home Affairs and the Ministry of Electronics and Information Technology. Related Reading: Bitcoin Market Update: Analyst Sees 65% Chance Of Retest Before Surge To $68,000 The report notes that Telegram boasts over 5 million registered users in India, making it one of the country’s most widely used messaging platforms. However, the government’s concerns stem from allegations that the app’s peer-to-peer communication features have been allegedly exploited by “bad actors to facilitate illicit activities.” The fact that Telegram does not have an office in India is reportedly complicating the government’s efforts to regulate and investigate the platform, despite the app’s compliance with India’s Information Technology (IT) Rules. Reports suggest that the app could even face a potential ban in India depending on the findings of the investigation. Durov Accused Of Allowing Criminal Activities The investigation in India has taken on added significance following the detention of Durov at the Paris-Le Bourget Airport on Saturday, as reported by Bitcoinist. Durov, who holds citizenships in Russia, France, the United Arab Emirates (UAE), and St. Kitts and Nevis, is reportedly being accused of failing to curb criminal activities on his platform in the European country. The French authorities have suggested that Telegram’s encryption tools have allowed criminals to “flourish” on the app. However, Telegram has pushed back, insisting that the company complies with European Union (EU) laws and content-moderation policies, and calling the claims “absurd.” The arrest has reportedly sparked a backlash from Russian politicians, with some suggesting that it could be “politically motivated.” Russia’s top human rights official, Tatyana Moskalkova, claimed that French authorities arrested Durov because they want to shut down the censorship-free platform. Toncoin (TON) Price Tumbles Amid these mounting legal troubles for the messaging app, Toncoin (TON), the cryptocurrency originally developed by Telegram, has seen losses of over 20% in the seven-day time frame and is currently trading at $5.39. However, in a 24-hour time frame, the token has also seen a price drop of nearly 8%, further demonstrating the bearish sentiment surrounding the TON price among investors after the news broke over the weekend. Related Reading: Here’s When Bitcoin Is Predicted To Break Its All-Time High If History Repeats CoinGecko data also shows that the token has also seen a 66% drop in trading volume and a 34% gap from its all-time high reached in June this year. Featured image from DALL-E, chart from TradingView.com
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 […]
Bitcoin and altcoins are witnessing some profit taking today, but the overall uptrend remains intact.
The Telegram team disputes reports that Durov had reason to avoid traveling within Europe.