Toncoin (TON) has been making waves in the crypto market recently, with its network reaching a significant milestone by surpassing Ethereum (ETH) in daily active addresses. The cryptocurrency has seen a notable recovery, rising by 7% in the last 24 hours and reaching a high of $8.08 today.
Toncoin, created by the team behind the Telegram messaging app, is known for its high-performance network capable of handling a large number of applications and transactions. According to market analysis platform Delphi Analytics, TON addresses have consistently outpaced Ethereum addresses this month, thanks in part to Telegram’s massive user base of over 900 million users.
The quiet growth of TON, fueled by Telegram’s user base, has led to its daily active addresses surpassing those of Ethereum. While the ecosystem is still in its early stages, the initial growth is promising and raises the question of whether it will be enough for long-term success.
Additionally, the number of large TON transactions recently increased by a staggering 237.5% in just one day, with the Notcoin (NOT) coin also gaining attention after a 400% rally in seven days.
A renowned cryptocurrency analyst has predicted a bullish rally for Toncoin, with a potential breakout of over 40% in the near future. Ali Martinez suggests that TON could reach the $11 price zone, with the current price sitting at $7.57, showing a 4.4% increase in the last 24 hours. However, Martinez notes that the TD Sequential indicator indicates a possible drop to $7.20 before a recovery.
At the time of publication, the price of Toncoin was $8.07, up by 7.0% in the last 24 hours. As with all investments, trading cryptocurrencies carries a risk of financial loss, and the views expressed in this article are for informational purposes only and do not constitute financial advice.
In other news, there are speculations about China potentially lifting its ban on Bitcoin, and AI cryptocurrencies are being closely monitored for potential high returns this weekend.
