TON Blockchain has been gaining increasing attention in the market recently. The native token Toncoin has seen a daily price increase of 4.7%. Market analysts report that the Open Network (TON) blockchain has become one of the most popular networks in the market. It has achieved a record transfer volume of around $10 billion, which is 10% of Bitcoin’s transfer volume of $50 billion. In addition, the price of the native token TON has risen by 4% in the past 24 hours.
Considering that the blockchain was launched only two years ago, the growth in transactions is remarkable. According to data from Crypto Quant, the blockchain has recorded a transfer volume ranging from $5 billion to $10 billion approximately.
It is worth noting that the number of TON holders has also increased significantly. Over the past year, the number of token holders has surged by 1003%, from 2.9 million to 32 million. Similarly, the token TON has registered a 118% increase within the same period, surpassing even Bitcoin’s growth rate.
Furthermore, in the past week, the TON blockchain has processed transactions worth $69.07 million that are greater than $100K. The TON ecosystem has also experienced a surge in Total Value Locked (TVL) at the beginning of May and currently holds a TVL of around $620 million.
The question remains: will Toncoin (TON) reach new highs in its market price? Over the past month, Toncoin has shown a significant price increase of 13.43%, rising from $6.527. At the time of writing, TON is trading at $7.24, with a daily increase of 4.96% according to CMC data.
Although the token experienced a dip in price in the past week, declining by 3.48%, it has shown signs of price recovery in the last 24 hours, as indicated by the aforementioned daily increase.
Analysts predict that Toncoin will experience bullish runs this year. TheNewsCrypto analysts have predicted a bullish price of $11.19 for 2024.
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