
Toncoin is built on the Telegram Open Network (TON) blockchain, which was launched in 2020 after a successful initial coin offering (ICO).
The TON blockchain is designed to be fast, secure, and scalable, with the potential to process up to 100,000 transactions per second.
Toncoin's unique architecture allows for seamless integration with Telegram's massive user base, potentially opening up new use cases for the cryptocurrency.
Toncoin's low transaction fees and fast processing times make it an attractive option for everyday transactions and micropayments.
Readers also liked: How to Get Toncoin
What Makes Unique?
Toncoin's unique approach to blockchain development is one of its most compelling features. It's an open-sourced network supported by many contributors, including the TON Foundation, a non-profit organization based in Switzerland.
The TON network was originally developed by the Telegram team, but after a court order in 2020, they ended their involvement. This led to the independent community of developers taking over, renaming the network to "The Open Network" and rebranding the native cryptocurrency as Toncoin.
Toncoin utilizes a proof-of-stake (PoS) consensus model for network scalability and reliability, which is a key aspect of its uniqueness. This model allows for faster transaction processing and lower energy consumption compared to traditional proof-of-work models.
The TON Foundation's vision is to empower 500 million users to own their digital identity, data, and assets by 2028, which is a bold and ambitious goal.
Founding and Development
The Open Network (TON) was founded by Anatoliy Makosov and Kirill Emelianenko through the TON Foundation.
The TON Foundation was established to launch and develop The Open Network (TON), which is an open-source and decentralized blockchain.
The Open Network (TON) is a decentralized platform that was created to provide a new way of thinking about blockchain technology.
The TON Foundation played a crucial role in developing The Open Network (TON), and its founders have been instrumental in shaping the project's vision and direction.
A unique perspective: Decentralized Application News
Market and Price
Toncoin's current price is $5.76 USD, with a 24-hour trading volume of $159,996,299 USD. This makes it the 14th ranked cryptocurrency on CoinMarketCap with a live market cap of $14,619,576,299 USD.
Toncoin has demonstrated impressive resilience during market downturns, with a 24-hour trading volume of approximately $285 million. This signals active market participation despite ongoing volatility in the broader crypto space.
As of now, Toncoin is trading at $7.38, following a 3.36% decline in the last day. However, it presents a positive performance on larger time scales with an impressive 17.64% gain recorded over the last seven days.
Here's a quick glance at Toncoin's current market data:
- Current price: $5.76 USD
- 24-hour trading volume: $159,996,299 USD
- Rank on CoinMarketCap: #14
- Live market cap: $14,619,576,299 USD
Price Overview
Toncoin has shown impressive resilience during market downturns, with a 24-hour trading volume of approximately $285 million, indicating active market participation.
Toncoin's price has been forming a symmetrical descending triangle on its weekly chart, which often signals a potential breakout. This pattern, combined with key technical indicators, suggests a short-term reversal may be on the horizon.
The token's Relative Strength Index (RSI) has been steadily bouncing from the neutral 50% level, indicating strengthening momentum. This is a positive sign for investors looking to buy in.
Expand your knowledge: Credit Market News
Toncoin's daily trading volume has risen by 11.57% and is currently valued at around $402.12 million. This increase in trading volume suggests that the token is gaining traction.
Here's a snapshot of Toncoin's recent price performance:
At the time of writing, Toncoin is trading at $7.38, with a market cap of $17.96 billion, ranking it as the ninth largest crypto asset.
Ton Overvalued: Analyst
Toncoin's Adjusted Sharpe Ratio indicates overvaluation, according to an analyst on CryptoQuant.
The asset's 7-day volatility has consistently surpassed its 30-day volatility over the past two and a half years.
Toncoin experiences more frequent and significant short-term price swings compared to its long-term price movement, implying a high sensitivity to short-term events.
The speculative nature of TON and rising numbers of Telegram users in DeFi and GameFi are attributed to the cause of such volatility.
TON's price could have attained a level of fatigue, according to the current 180-day Sharpe Ratio analysis, with potential price drops expected in the near term.
Short-term traders may capitalize on this volatility, but it's a highly risky strategy.
Toncoin's price movement over an extended period is considerably lower and stable, observed from data from the 30-day volatility metric.
Token and Circulation
Toncoin has a circulating supply of 3.47B tokens.
The maximum supply of Toncoin is capped at 5B tokens.
Coin Circulation
The circulating supply of Toncoin is a significant 3.47B, with a maximum supply of 5B TON. This means there's still room for more tokens to be released into circulation.
Toncoin's utility token status allows it to fuel dApps within the ecosystem, making it a crucial part of the TON network.
Toncoin is used to pay transaction processing fees, cross-chain transaction fees, and even staking payment to secure the blockchain. This versatility is a key aspect of its design.
Ton Chain Tokens
Ton Chain Tokens are a type of cryptocurrency that uses a proof-of-stake consensus algorithm.
They are designed to be energy-efficient and scalable, with the ability to process up to 2,000 transactions per second.
Ton Chain Tokens are built on the Ton blockchain, which is a fast and secure platform for decentralized applications.
The platform has a large community of developers and users, with a growing ecosystem of dApps and services.
Ton Chain Tokens are used to pay for transaction fees and to participate in the network's governance.
They can be used to create and manage digital identities, as well as to make secure and fast payments.
The total supply of Ton Chain Tokens is capped at 999,999,999, with a circulating supply of around 500,000,000.
Frequently Asked Questions
What is the future of Toncoin?
According to our latest forecast, Toncoin's value is expected to increase by 10.2% and reach $6.59 by December 27, 2024. For a more detailed outlook, please refer to our comprehensive Toncoin price forecast.
Why is the TON going down?
TON is experiencing a decline due to increased selling pressure from bears dominating the market. Negative funding rates and bearish technical signals are contributing to this downward trend.
Is TON a good investment?
TON may be a good investment for those with a high-risk tolerance and long-term vision, but its success depends on several factors including community growth and regulatory clarity. Consider investing in TON if you're willing to take on risk and have a patient approach to investing.
Sources
- https://coinmarketcap.com/currencies/toncoin/
- https://techbullion.com/chainlink-link-and-toncoin-ton-prices-drop-as-spike-in-lightchain-ai-presale-registrations-indicates/
- https://thecurrencyanalytics.com/altcoins/why-toncoin-ton-could-surge-beyond-10-in-2025-key-drivers-and-price-analysis-152750
- https://www.newsbtc.com/news/toncoin-ton-faces-price-fatigue-possible-drawdown-ahead-analyst/
- https://m.economictimes.com/markets/cryptocurrency/toncoin-the-explosive-surge-and-factors-behind-it/articleshow/112563534.cms
Featured Images: pexels.com