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Bitcoin

Toncoin

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<p><span data-font="font-size" style="font-size: 16px;">Toncoin making a buzz in the market, bouncing back from its lower support level. The market is in fear, Bitcoin is red, and big whales are selling BTC but TON is standing strong in the tough market. The crypto price advanced back to $7.53 after touching the low of $6.45 recently.<br></span></p>
<h3 id="span-data-font-font-size-style-font-size-18px-toncoin-on-chain-data-analysis-span"><span data-font="font-size" style="font-size: 18px;">Toncoin On-Chain Data Analysis&nbsp;</span></h3>
<p><span data-font="font-size" style="font-size: 16px;">According to Santiment data, the social metrics of <a href="https://www.coingabbar.com/en/crypto-currency-news/slowmist-reveals-a-crypto-scam-exploiting-the-toncoin-ton" title="Bitcoin" class="f-link">TON</a> are surging, showing that it has good engagement on social platforms like X, Reddit, and Telegram, receiving a significant number of mentions, and posts, and being part of discussions.</span></p>
<p><span data-font="font-size" style="font-size: 16px;">Furthermore, the Total Value Locked (TVL) has also increased since the beginning of the year, indicating that investors have confidence in the Toncoin ecosystem.</span></p>
<div>
 <span data-font="font-size" style="font-size: 16px;">The User transaction count is 619,137,359 with 77.60 transactions per second speed and the address count was also in the growing mode, currently stands at 38,417,209 suggesting a bullish indication.&nbsp;</span>
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<h4>Ton Coin on the Technical Chart&nbsp;</h4>
<p><span data-font="font-size" style="font-size: 16px;">At the time of writing TON price was trading at the level of $7.516 with an intraday surge of 4.09% according to TradingView data.&nbsp;</span></p>
<p><span data-font="font-size" style="font-size: 16px;">Currently, TON's market cap stands at the level of $18,816,226,985 and the 24-hour trading volume was $18,816,226,985. Moreover, the 24-hour volume to market cap ratio was 2.53% suggesting good liquidity in the Toncoin.</span></p>
<div>
 <span data-font="font-size" style="font-size: 16px;">Currently, the TON price bouncing back from the 50-EMA level showcasing bullishness on the daily technical chart.</span>
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<div>
 <span data-font="font-size" style="font-size: 16px;">The RSI curve is trading at 51.19 and heading in the upward direction showing bullish signs.&nbsp;</span>
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<div>
 <span data-font="font-size" style="font-size: 16px;">Since the beginning of the year, Toncoin has given outstanding returns to investors. Year to date the TON gave an impressive return of 223.36% and in the last 6 months, it gave a return of 241.28% showcasing a bullish trend for TON in the long term.</span>
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<div>
 <span data-font="font-size" style="font-size: 16px;">According to the technical summary from TradingView out of 26 indicators 3 are on the sell side, 9 are on the neutral side and 14 are on the buy side. The overall weightage is on the bullish side suggesting bullish momentum in the TON.</span>
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<div>
 <span data-font="font-size" style="font-size: 16px;">If the TON price continues the bullish momentum and breaks the $8 level in the upcoming sessions then it could break the $10 mark in the upcoming sessions.</span>
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<p><br></p>
<h4 style=""><span>Conclusion</span></h4>
<p style=""><span data-font="font-size" style="font-size: 16px;"><span>Toncoin's recent price surge amidst a fearful market landscape underscores its resilience and potential for growth. Despite the broader market downturn, with </span><a href="https://www.coingabbar.com/en/crypto-currency-news/spot-bitcoin-etfs-market-confidence" title="Bitcoin" class="f-link"><span>Bitcoin </span></a><span>in the red and significant sell-offs by large holders, TON has demonstrated strength, rebounding from its support level and advancing to $7.53.</span></span></p>
<p style=""><span><span data-font="font-size" style="font-size: 16px;">The on-chain data and social metrics reflect growing confidence in the Toncoin ecosystem, with increasing Total Value Locked (TVL) and user transaction counts signaling a bullish sentiment.&nbsp;</span></span></p>
<p style=""><span data-font="font-size" style="font-size: 16px;">Also Read: </span><a href="https://www.coingabbar.com/en/crypto-currency-news/bitcoin-drop-below-50k-sell-offs" title="Will Bitcoin (BTC) Price Break Below $50,000 Mark" class="f-link" style=""><span data-font="font-size" style="font-size: 16px;">Will Bitcoin (BTC) Price Break Below $50,000 Mark</span></a></p>

Toncoin Surges Again: Can It Break the $10 Mark?

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