- The Toncoin crypto supply inflation is very high at 184.49%.
- TON Crypto has witnessed a surge of 56.5% in the number of token holders in the last 30 days.
The Open Network (TON) is a decentralized blockchain platform initially developed by Telegram. It supports instant payments, decentralized applications (dApps), secure storage, anonymized networks, and a domain name system (DNS).
Created by Pavel and Nikolai Durov, the project is now maintained by the TON Foundation and independent developers after Telegram ceased development in 2020 due to regulatory issues.
![TON](https://themarketperiodical.com/wp-content/uploads/2024/06/image-241.png)
When writing, the spot trading volume of Toncoin has witnessed an advance of 45% in the last 24 hours. The trading volume of the crypto has also advanced by 40%.
Despite the surge in the trading volume, a decline of 3.8% in the Toncoin open interest can be seen. The crypto market cap has also declined by 4.7%, resulting in a market cap value of $17.696B.
Toncoin has a very good market presence; its market cap dominance is 1.06%. The crypto sentiment is also bullish, according to analysts. The fear and greed index is at 74, indicating investors’ extreme greed.
Toncoin Crypto Blockchain Data Overview
The total raised amount by Toncoin crypto is worth $504.0M, and the fully diluted market cap of the crypto is worth $37.488B.
![TON](https://themarketperiodical.com/wp-content/uploads/2024/06/image-242.png)
The Total Value Locked for the Toncoin has advanced by more than 56x in the last few months, which shows strong confidence among the coin investors. Also, the stablecoin crypto market cap is at an all-time high.
Additionally, the Total Value Locked for the crypto is $589.1M, and the stablecoin crypto market cap is $449.28M at press time.
TON Crypto Technical Analysis
Over the past 24 hours, a bearish candle has formed on the daily chart of TON crypto. Despite this, the price is holding at a crucial breakout level.
![TON](https://themarketperiodical.com/wp-content/uploads/2024/06/image-243-1024x456.png)
The trading price has broken above the critical swing high, reaching all-time highs, and is currently sustaining above these breakout levels.
A surge with strong momentum might be witnessed if the price pushes above the previous swing high. This indicates a potential bullish continuation, suggesting that investors should watch for further upward movement.
TON/USD Chart by TradingView
The 50-day and 200-day EMAs for TON crypto exhibit a bullish trend, as the price is trading above these levels and moving higher. Additionally, the price has broken above the upper Bollinger band, indicating a bullish breakout and strong buyer dominance.
The MACD has crossed above the median level, with a bullish crossover of the MACD and signal line, supported by positive histograms. The RSI has also risen above the 14-day SMA, currently at 52, further confirming the bullish momentum in TON’s trading price.
Summary
The TON crypto price shows strong bullish momentum, trading above key EMAs and breaking the upper Bollinger band, indicating a bullish breakout.
Despite a recent bearish candle, the price holds at a crucial breakout level with support from positive MACD and RSI indicators, suggesting further upward movement.
The support levels for the TON crypto price are $6.00 and $6.70, followed by the resistance levels of $8.25 and $10.0.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.