Toncoin

FLOKI

when

Rise

Coin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/why-ton-coin-is-on-the-rise/" data-wpel-link="internal">Why TON Coin Is On The Rise</a> 
<a href="https://coin-turk.com/bitcoin-bu-hafta-sonu-6-250-dolara-gerileyebilir-mi" data-wpel-link="internal">Bitcoin</a> prices fluctuate, but a few <a href="https://coin-turk.com/ethereum-tabanli-altcoin-yuzde-75-asan-yukselisi-sirada-ne-var" data-wpel-link="internal">altcoins</a> continue the day with double-digit gains. One of them is the Telegram-backed TON Coin, which has seen an increase of around 37% daily. Investors in altcoins are making profit sales in anticipation of a possible deep <a href="https://en.coin-turk.com/bitcoin-etf-competition-bitwise-vs-blackrock/" data-wpel-link="internal">BTC</a> price correction. So what are the latest developments and possible scenarios on the TON Coin front? 
<h2 style="text-align: justify" id="why-is-ton-coin-rising">Why Is TON Coin Rising?</h2> 
Telegram-backed TON Coin was finding buyers at $4 at the time of writing. In 2021, it surpassed the $5.8 price, approaching the all-time high (ATH) level again. It’s not just the price that’s increasing; the daily trading volume also hit an all-time high of $314 million. This surpasses last week’s record trading volume of $295 million. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-326604 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/TON-Coin-Gunluk-Islem-Hacmi.webp" alt="" width="1536" height="520"> 
Especially since there is a significant and consistent trend between TON price movements and trading volume, optimism about the future of the price is growing. There hasn’t been a major development in the altcoin that could trigger a price increase, just routine activities and announcements. 
For example, the latest announcement talks about the possibility of distributing 50% of the revenue to Telegram channel owners. 
<blockquote> 
 “Telegram will distribute rewards using Toncoin on the TON Blockchain. Channel owners will start receiving 50% of all revenue generated from advertising on the company’s channels.” 
</blockquote> 
However, days when liquidity moves around altcoins and some of them rapidly increase in value are standard in bull markets. This seems to resemble such a rise. 
<h2 style="text-align: justify" id="ton-coin-price-prediction">TON Coin Price Prediction</h2> 
At the time of writing, 95% of TON Coin investors are in profit. If the price does not experience significant profit-taking in the short term, this indicates that these investors are targeting new peaks. We had seen the last example of this in FLOKI <a href="https://en.coin-turk.com/is-the-decline-over-shiba-coin-price-analysis-whats-next-for-shiba-inu-shib/" data-wpel-link="internal">Token</a>, which lingered at the 95% profitability level and then doubled its price. 
Nevertheless, acknowledging the potential for selling pressure would be prudent. A 37% price increase calls for caution. The four-hour chart indicates a short-term bullish trend in price movement. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-326605 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/TON-Coin-Grafik.png" alt="" width="1893" height="785"> 
TON Coin has historically found support in the $2.6 and $2.38 regions. A potential sell-off could see a dip to these levels. However, if the momentum continues, closures above $4 like now could initiate a new move towards $5.8. 
<a href="https://en.coin-turk.com/anticipated-short-squeeze-in-crypto-market-realizes-in-january-2024/" data-wpel-link="internal">Bitcoin</a>‘s price is at $71,400 with 15 minutes to the daily close, and the market has the potential to make a significant move in either direction as Asian markets open in a few hours. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/why-ton-coin-is-on-the-rise/" data-wpel-link="internal">Why TON Coin Is On The Rise</a></h5>

Why TON Coin Is On The Rise

Table of Contents

COINTURK NEWS

Other articles published on Mar 13, 2024

Polygon's Price Increased More Than 7% Within 24 hours

Washington Court Convicts Bitcoin Fog Founder of Aiding Darknet Drug Trade Money Laundering

Coinbase unveils $1B convertible notes offering for institutional investors

New record: Bitcoin ETFs hit $1B in daily inflow

Zooming NEAR: Solid 75% Growth Sparks Crypto Frenzy

Surge in Toncoin Value as Market Cap Hits $15 Billion

Join our free newsletter for daily crypto updates!