Amid a generally bearish trend in the crypto market, the value of Toncoin (TON) has surpassed the $8 mark, reaching an all-time high of $8.12 and achieving a market capitalization of over $19.2 billion.
According to analyst Ali Martínez at However, the TD Sequential indicator suggests that TON could see a brief drop to $7.2 to gather liquidity before continuing its upward trajectory.
#Toncoin It is preparing for a possible 40% breakout, aiming for $11! However, the TD Sequential indicator suggests $TONNES could briefly drop to $7.2 to gather liquidity before the rally. pic.twitter.com/jMoZ1ugEga
—Ali (@ali_charts) June 13, 2024
Ton Blockchain presents new milestone at over $500 million in TVL
Ton Blockchain has recently reached a major milestone, reaching $500 million in total value locked (TVL). This marks a substantial increase from $22.9 million in March 2024 to over $500 million today, representing a staggering growth of over 2,000%.
The TVL on the Ton Blockchain now rivals the GDP of a small country, reflecting the extensive use of TON in various applications.
BREAKING: Total value locked of $500 million (TVL) 🔥
The GDP of a small country is used in everything #TONThe applications of. This incredible achievement is yours, TON Community!
From $22.9 million TVL in March 2024 to over $500 million today – an increase of over 2,000%. 📈
It's still just the beginning... pic.twitter.com/bE3xqohACG
— TON 💎 (@ton_blockchain) June 13, 2024
This rapid increase in TVL highlights the growing trust and adoption of the Ton Blockchain ecosystem. Investors and users are increasingly interacting with TON applications, contributing to its strong growth. The current bullish sentiment around Toncoin is driven by both its impressive market performance and the broader utility of its blockchain network.
In conclusion, despite the overall bearish sentiment in the cryptocurrency market, Toncoin has defied the trend with notable performance. With analysts predicting higher profits and major milestones achieved at TVL, TON is positioned for continued growth.
However, investors should take into account possible short-term fluctuations, as indicated by technical analysis. As Toncoin continues to attract interest and expand its ecosystem, it remains a prominent player in the cryptocurrency space.
Disclosure: This is not trading or investment advice. Always do your research before purchasing any cryptocurrency or investing in any service.
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