Toncoin (TON) is gaining attention in the market, showing strong upward momentum alongside increasing holders and development activity.
Toncoin (TON) is grabbing everyone’s attention in the market amidst strong performance. The ongoing Toncoin rally is attributed to a significant increase in its Total Value Locked (TVL), as reported by DeFiLlama, an on-chain analytics aggregator.
Moreover, the total number of holders and active addresses also increased, showcasing the popularity of the coin among the investors.
Toncoin (TON) Daily Active Addresses & Total Amount Of Holders Spiked
The number of daily active addresses has increased by 500% since March, explaining the bullishness on the chart. Daily active addresses have surged by 100% this month. If the address activity increases further, the price may react negatively.
Moreover, the & total amount of holders has spiked. From 10,072 holders 2 months ago till May 14, the total number of holders are 19283, showcasing that investors are accumulating TON.
Is Toncoin Popularity on the Rise in Crypto Media
Toncoin social metrics are increasing suggesting TON is quite popular nowadays. Moreover, in the past few days, its discussion on social platforms has increased.
Social dominance is evident in the increased conversation about Toncoin cryptocurrency compared to other ongoing crypto discussions.
Toncoin TVL Growth; Will It Broke Upper Levels
The ongoing surge in Toncoin’s value is attributed to a significant rise in its Total Value Locked (TVL).
Source: DeFiLlama.
Toncoin’s TVL as on DeFiLlama has jumped from $18.8 Million at the end of February to $258.6 Million, indicating a remarkable increase of about 1276%. This substantial growth in TVL implies a growing trust and attraction to the Toncoin ecosystem, with more capital being staked or locked into its protocols.
Toncoin Is About To Break All-Time-High
The Toncoin price has been on a strong bullish trend, gaining about 160% since March and reaching an all-time high of $7.67 on April 11, 2024. However, it faced resistance at the $7.66 hurdle.
The asset price trying to break the $7.66 hurdle witnessed strong buying pressure. Toncoin price has gained 20% in a week by surpassing the 20-day exponential moving average.
When writing, the Toncoin price was trading at $6.81 with an intraday drop of -2.85%. The market capitalization is $24.01 Billion. The 24-hour trading volume is $562.98 Million.
Summary
Toncoin (TON) is making waves in the market due to its strong upward momentum, increasing Total Value Locked (TVL), and a growing number of holders and active addresses. The coin’s daily active addresses have increased significantly, contributing to its bullish performance. Toncoin’s social metrics and conversations on social platforms are also on the rise, indicating increasing popularity, and reflecting growing trust and attraction to the Toncoin ecosystem.
Disclaimer
It’s important to note that the views and opinions presented in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading stocks carries inherent risks, and readers should conduct their research before making any financial decisions.
