Will Toncoin (TON) Price Hit New Highs with $700 Million TVL?

Bittime - The price of Toncoin (TON) is showing a bullish signal again! After touching a low of $6,275 this month, Toncoin managed to recover with an increase of 22.5%.

The increase was driven by network growth, the arrival of new Play-to-Earn games on Telegram, and the official authorization of Toncoin trading in Kazakhstan.

Surge Toncoin Supported by Network Growth and New Games

While the crypto market as a whole still does not show clear buyer or seller dominance, Toncoin is actually moving against the tide. Bitcoin itself is currently consolidating above the $60,000 support level.

Most other major altcoins have shown sluggish movements throughout this week, waiting for better reversal signals. In the midst of this uncertainty, Toncoin prices are actually trading on a positive note. Toncoin looks like it is trying to break the $7.6 resistance to regain bullish momentum.

Toncoin Records 113% TVL Increase and Receives Important Regulatory Approval

Despite the market downturn in June, Toncoin managed to maintain its bullish momentum. Toncoin rose from a monthly low of $6.275 to a trading price of $7.68, registering a gain of 22.5%.

This increase was driven by a surge in network activity, wider adoption, and the introduction of Play-to-Earn games on Telegram. All these factors played a crucial role in his recovery.

Recently, the Astana Financial Services Authority (AFSA) officially approved Toncoin (TON) trading in Kazakhstan. This approval was issued after a thorough review that ensured Toncoin's compliance with regulatory standards.

It is hoped that this inclusion will attract a new wave of institutional and retail investors. They will get safe and transparent trading options in an environment regulated by AIFC (Astana International Financial Center).

Whale Follow Buy Toncoin

In a recent tweet, renowned trader Alicharts highlighted the surge in investments in Toncoin. He revealed that “whales” (investors with large holdings) had purchased more than 45 million TON worth around $346.5 million over the past week.

This accumulation highlights investors' strong confidence in the future potential of this asset.

Price Analysis Toncoin, Aiming for a New Peak?

As of this writing, Toncoin was trading at $7.66 and maintained its position as the eighth largest cryptocurrency with a market capitalization of IDR 309.2 trillion ($18.84 billion).

Additionally, the Total Value Locked (TVL) on the Toncoin Network continues to increase, reaching $700 million (Rp. 1.15 trillion) on Sunday, according to DefiLlama data. With a TVL increase of 113.41% in June, the network shows strong growth and increasing adoption among market players.

With a modest intraday gain of 1.4%, TON price is heading towards higher levels and will soon challenge the nearest resistance at $7.86 (Rp. 128,421).

If buyers manage to turn that resistance into strong support, Toncoin could surpass $8.28 (Rp. 135,354) and target the $9 (Rp. 146,700) level, followed by $10.5 (Rp. 172,035).

However, if market supply pressure continues, TON prices could fall by 4-5% and find support at the rising trend line since mid-March. This dynamic support favors buyers with a suitable accumulation point and a stable higher-low formation.

Technical Indicators

• EMA (Exponential Moving Average): The coin price is trading above the fast-moving 20-day and 50-day Exponential Moving Average (EMA) indicating that buyers are still active on the asset.
• ADX (Average Directional Index): The slope of the Average Directional Index fell to 11.5% indicating ongoing consolidation has stabilized the price after the last rally. This is favorable for the new recovery trend.

Conclusion

Toncoin shows positive movements amidst a crypto market that still does not show clear dominance. The 22.5% rise from the monthly low was driven by network growth, the arrival of new Play-to-Earn games on Telegram, and the official authorization of Toncoin trading in Kazakhstan.

Overall, Toncoin shows attractive prospects for long-term investors. Strong network growth, increasing adoption, and interest from whale investors are the main driving factors for Toncoin's future price increase.

How To Buy Toncoin (TON) With Bittime

You can buy and sell Toncoin (TON) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.

Toncoin (TON) is available on Bittime with TON IDR pairing.

To be able to buy TON tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Learn How to Buy Toncoin (TON) on Bittime.

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