According to data from CoinMarketCap, Toncoin (TON) increased by 18%, reaching a new high of $7.22 amidst market turmoil.
Experts are eagerly tracking Toncoin as its price has increased by 35% in the past week and an astonishing 136% in the last month, reaching a spectacular 180% growth since March. Trading volume has also soared by almost 300% everyday on average.
This increase enabled Toncoin to become the eighth largest cryptocurrencycurrency, surpassing Dogecoin with a market valuation of $24 billion. The rally follows Toncoin’s collab with HasKey.
Technical analysis shows Toncoin’s price in an ascending channel pattern, indicating optimistic sentiment. Recent falls were met with robust buying activity, propelling the price towards a potential rally to $10, especially if it crosses the $7.50 resistance line.
Toncoin’s upward momentum is backed by Telegram’s ambitions for an IPO and introducing Toncoin-based adverts, providing advertisers control over placements and budget allocation.
Read also: TON Blockchain Initiates $115M Community Incentive Program
