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<p>The post <a href="https://coinpedia.org/news/ton-coin-rally-key-reason-behind-ton-coin-rally-and-whats-next/">Toncoin Hits All-Time High! Further Growth Incoming?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In the midst of a choppy day in the cryptocurrency markets on March 12th, <a href="https://coinpedia.org/price-analysis/toncoin-price-jumps-big-will-ton-price-maintain-its-momentum/">Toncoin</a>, closely associated with Telegram, soared by over 25% within just 24 hours, reaching an all-time high of $4.45. However, this surge propelled its market cap to over $12 billion.</p> 
<p>Read more about this below. </p> 
<h2 class="wp-block-heading" id="h-what-s-driving-ton">What’s Driving TON?</h2> 
<p>Toncoin’s recent surge has caught the attention of cryptocurrency enthusiasts and analysts. A significant inflow of capital from <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin</a> and <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/">Ethereum</a> has been identified as a key driver behind this rally. This indicates a notable shift in investor sentiment towards alternative cryptocurrencies, as seen by the impressive 18% surge in other top-cap altcoins.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> Monday's <a href="https://twitter.com/hashtag/altcoin?src=hash&amp;ref_src=twsrc%5Etfw">#altcoin</a> breakout was boosted by major distributions from <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>'s latest new <a href="https://twitter.com/hashtag/AllTimeHigh?src=hash&amp;ref_src=twsrc%5Etfw">#AllTimeHigh</a>. <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> saw a +55% social volume rise, and <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>'s discussions +60%. Top cap notable 24-hour price gainers are:<br><br><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1fa99.png" alt="🪙" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/search?q=%24LTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LTC</a> +19%<br><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1fa99.png" alt="🪙" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$XRP</a> +18%<br><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1fa99.png" alt="🪙" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/search?q=%24TON&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TON</a> +18%<a href="https://t.co/OwJOMhW3bS">https://t.co/OwJOMhW3bS</a> <a href="https://t.co/naMDhQQ7Fb">pic.twitter.com/naMDhQQ7Fb</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1767351055531266200?ref_src=twsrc%5Etfw">March 12, 2024</a>
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<p>Toncoin’s surge was further fueled by a notable on-chain transaction highlighted by Lookonchain. This transaction, occurring alongside a 30% price increase, involved a whale investor acquiring a substantial volume of TON tokens. This investor procured 209,237 TON tokens at $4.1 per token, amounting to 214 Ethereum, approximately $858,000 in value. This not only boosts confidence in Toncoin but also significantly adds to its overall market value.</p> 
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   <p lang="en" dir="ltr">The price of <a href="https://twitter.com/search?q=%24TON&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TON</a>(<a href="https://twitter.com/hashtag/Toncoin?src=hash&amp;ref_src=twsrc%5Etfw">#Toncoin</a>) increased by nearly 30% today!<br><br>We noticed that a whale spent 214 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($858K) to buy 209,237 <a href="https://twitter.com/search?q=%24TON&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TON</a> at $4.1 on-chain.<a href="https://t.co/BGyj7ugsLw">https://t.co/BGyj7ugsLw</a> <a href="https://t.co/EiUOkcup3e">pic.twitter.com/EiUOkcup3e</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1767773108801605715?ref_src=twsrc%5Etfw">March 13, 2024</a>
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<h2 class="wp-block-heading" id="h-ton-coin-airdrop">TON Coin Airdrop</h2> 
<p>Further boosting the price of Ton is the <a href="https://twitter.com/ton_blockchain/status/1767204550979563736">announcement</a> of the TON Foundation donating 1 TON for everyone at TonRaffles as a reward. Additionally, the $RAFF holders were snapshot on March 11, 2024, at which time holders are set to receive $1 TON soon.</p> 
<p>After the announcement, TonRaffles, the TON blockchain <a href="https://coinpedia.org/press-release/ton-launches-ton-research-frenzy-around-celestia-nuggetrush-explained/">saw impressive growth</a> of a 70% increase in users in Open League transactions and a 60% increase in Total Value Locked (TVL).&nbsp;</p> 
<h2 class="wp-block-heading" id="h-watch-out-investor">Watch Out, Investor! </h2> 
<p>Technical <a href="https://coinpedia.org/price-analysis/toncoin-price-jumps-big-will-ton-price-maintain-its-momentum/">analysis indicated</a> that the TON stock is trending higher. As of now TON coin price is trading at $4.27 with the daily chart showing a green candlestick indicating a significant price surge. However, the relative strength index (RSI) of 83.74 indicates possible overbought conditions, possibly indicating a correction.</p> 
<p>On the 4-hour chart, further bullish signals are observed. Maintaining momentum above $4 could propel Toncoin towards the $5.8 mark, paving the way for additional gains.</p> 
<p>With investor sentiment shifting towards alternative digital assets and substantial capital inflows driving its ascent, Toncoin continues to attract attention.</p> 
<p>Read More: <a href="https://coinpedia.org/news/altcoin-season-2024-forecast-decline-in-memecoins-could-signal-major-market-changes/">Meme Coins Fizzle, Bitcoin Soars, Investors Shift Gears: Is Altcoin Season 2024 Here?</a></p>

Toncoin Hits All-Time High! Further Growth Incoming?

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