Toncoin, the main currency of The Open Network has just reached its highest price ever twice on Friday, and today, 18 June 2024, its price is around $7.35. This is a big deal for investors and people who like cryptocurrencies. Now, everyone is wondering if Toncoin can go up to $10 soon.
The Open Network is a blockchain platform that’s not controlled by any one group. It’s made to fix problems that other networks, like Ethereum, have. The Open Network can handle a lot of transactions quickly, and it supports smart contracts, which are like automatic agreements.
Toncoin Achieved New $8 All-Time High
TON recently hit a new ATH, breaking previous records. Earlier in June, This Gamecoin surpassed Cardano (ADA) to become the 9th largest cryptocurrency by market cap. It then broke its all-time high not once but twice.
On Thursday, the token reached $7.78, crossing its $7.76 resistance level.
TON continues its ambition level in the following hours, briefly breaking the $8 barrier. After hitting its new all-time high, it slightly settled back. Toncoin traces its path below the $8 mark.
Before hitting its second all-time high, TON flicked between $7.8 and $7.9 price range in the next 24 hours.
This Gamecoin achieved its second milestone on Friday. The price of the token jumped by 5% and reached a new high of $8.15, and this surge represents a 9% increase from the day before.
TON’s prices surged to 7.7% and 17.6% over the past week and month respectively.
Toncoin’s Large User Base than Ethereum
Toncoin’s price is going up at the same time as more people are using its network. This token is being compared to Ethereum because it has a lot of active users. It even had more activity than Ethereum for a few days in June because it works with Telegram, which has 900 million users. This increase in people using Toncoin shows that it’s becoming more popular and useful.
In the middle of the slow market, Toncoin stood out to the community. GeckoTerminal shared the list of the top 10 cryptocurrencies by market capitalization. While other cryptocurrencies experiencing loss, TON is the only token with a positive performance in the “last 7 days carnage.” The crypto community highlights the Token’s green numbers. This impressive growth earned Toncoin praise from the crypto community.
Toncoin: The $10 Question
Whether The token will go up to $10 depends on a few important things. More people wanting to buy it, how useful it is and how many people are using it, good conditions in the market, and a general feeling of excitement about cryptocurrencies can all help this gamecoin’s price go up.
Crypto analysts are turning bullish on TON.
Ali Martinez, a crypto analyst, highlighted the ascending triangle pattern on TON’s chart. He said that Toncoin was on the verge of a major breakout. According to Martinez, the token climbed for a 40% breakout above the $10 price range.
Daan Crypto also predicted that the token will hit double digits by summer, setting their sights on a price target above $10.
Altcoin Sherpa, a crypto expert, says that Toncoin’s price chart looks really strong compared to other cryptocurrencies. Before, some analysts thought that the gamecoin’s price would drop soon.
Toncoin vs. SOL
Some community members think Toncoin could be the new Solana (SOL). Crypto trader ImNotTheWolf believes “TON will become the new SOL, in terms of gains potential.”
TON has some advantages of lower transaction costs and a lower inflation rate. SOL is already ahead of TON in terms of established use cases and faster transaction speed.
Toncoin’s price keeps hitting new highs. It could reach $10 for each coin if the market stays good and the basics behind it are strong. But, people investing in it should be careful because investing in cryptocurrencies can be risky.
Also Read- Jaylene Cook Dating for SOL Tokens Worth $40,000!
