{"id":416638,"date":"2024-08-22T07:30:21","date_gmt":"2024-08-22T02:00:21","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=416638"},"modified":"2024-08-21T18:52:02","modified_gmt":"2024-08-21T13:22:02","slug":"ton-hits-record-high-daily-active-addresses-but-is-ton-a-bubble","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/ton-hits-record-high-daily-active-addresses-but-is-ton-a-bubble\/","title":{"rendered":"Toncoin hits record high daily active addresses, but is TON a &#8216;bubble&#8217;?"},"content":{"rendered":"<ul>\n<li><em>Increased TON Masterchain activities painted a bullish weekly outlook.\u00a0<\/em><\/li>\n<li><em>TON set to break out as global liquidity and trading volume surge.<\/em><\/li>\n<\/ul>\n<p>The TON Masterchain has reached a record of 946 daily active addresses, a 7x increase since July 2021, as Kyledoops <a href=\"https:\/\/x.com\/kyledoops\/status\/1826129615351591024?t=5ppPExObyu39mLQBuLxbeA&amp;s=19\">noted<\/a> on X (formerly Twitter).<\/p>\n<p>This growth reflected rising network activity, the expansion of dApps and work chains, and potential higher demand for <a href=\"https:\/\/ambcrypto.com\/predictions\/the-open-network-price-prediction\/\" target=\"_blank\" rel=\"noopener\">Toncoin [TON]<\/a>.<\/p>\n<figure id=\"attachment_416644\" aria-describedby=\"caption-attachment-416644\" style=\"width: 1280px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_091817.jpg\"><img decoding=\"async\" class=\"wp-image-416644 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_091817.jpg\" alt=\"\" width=\"1280\" height=\"720\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_091817.jpg 1280w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_091817-300x169.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_091817-1024x576.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_091817-768x432.jpg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_091817-1200x675.jpg 1200w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/><\/a><figcaption id=\"caption-attachment-416644\" class=\"wp-caption-text\">Source: CryptoQuant<\/figcaption><\/figure>\n<p>Although some analysts suggested that the TON blockchain might be a bubble due to its low daily active user count, broader market metrics challenge this view, indicating the network&#8217;s solid progress and potential in the long-term.<\/p>\n<p>First, Toncoin has shown strong potential as a top coin to hold on the support.<\/p>\n<p>The TON\/USDT weekly chart revealed a reversal candle with a long tail, indicating bullish pressure, supported by growing volume in recent weeks.<\/p>\n<p>Moreover, Bollinger Bands are tightening, suggesting a potential squeeze, but the best bet lies in the breakout to the upside.<\/p>\n<figure id=\"attachment_416645\" aria-describedby=\"caption-attachment-416645\" style=\"width: 1280px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_084619.jpg\"><img decoding=\"async\" class=\"wp-image-416645 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_084619.jpg\" alt=\"\" width=\"1280\" height=\"796\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_084619.jpg 1280w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_084619-300x187.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_084619-1024x637.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_084619-768x478.jpg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_084619-1200x746.jpg 1200w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/><\/a><figcaption id=\"caption-attachment-416645\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p>On the daily time frame, Toncoin was nearing a breakout above 100 simple moving average, which has posed some resistance.<\/p>\n<p>However, it&#8217;s likely that TON will soon break this level and stay above it.<\/p>\n<p>A potential 50-60% bullish wave is expected in the near future, with $10 per TON being a realistic target for traders and investors, suggesting strong upward momentum ahead.<\/p>\n<figure id=\"attachment_416650\" aria-describedby=\"caption-attachment-416650\" style=\"width: 1280px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_085138.jpg\"><img decoding=\"async\" class=\"wp-image-416650 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_085138.jpg\" alt=\"\" width=\"1280\" height=\"592\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_085138.jpg 1280w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_085138-300x139.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_085138-1024x474.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_085138-768x355.jpg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_085138-1200x555.jpg 1200w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/><\/a><figcaption id=\"caption-attachment-416650\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<h2><strong>Altcoins set to break out<\/strong><\/h2>\n<p>Aaltcoins are poised for a significant breakout after retracing above the range. This retracement has formed a bull flag, a pattern often linked to upcoming bullish runs.<\/p>\n<figure id=\"attachment_416654\" aria-describedby=\"caption-attachment-416654\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_073021-scaled.jpg\"><img decoding=\"async\" class=\"wp-image-416654 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_073021-scaled.jpg\" alt=\"\" width=\"2560\" height=\"1883\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_073021-scaled.jpg 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_073021-300x221.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_073021-1024x753.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_073021-768x565.jpg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_073021-1536x1130.jpg 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_073021-2048x1506.jpg 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_073021-1200x883.jpg 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-416654\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p>The market is gearing up for an altcoin season, with new memecoins like DOGS, created by Pavel Durov, CEO of Telegram, already being used to generate liquidity in TON.<\/p>\n<p>The stage is set for a strong rally across the altcoin market.<\/p>\n<h2><strong>Global and TON liquidity surges<\/strong><\/h2>\n<p>Global liquidity is on the verge of a breakout, with <a href=\"https:\/\/ambcrypto.com\/predictions\/bitcoin-price-prediction\/\" target=\"_blank\" rel=\"noopener\">Bitcoin [BTC]<\/a> and altcoins set to surge. According to data from the Bitcoin Strategy Platform, liquidity has dropped to over $80 trillion.<\/p>\n<p>Combined with USDT minting, this could cause significant gains for TON and other crypto assets. Expect major price increases in late Q3 or early Q4 of 2024.<\/p>\n<figure id=\"attachment_416659\" aria-describedby=\"caption-attachment-416659\" style=\"width: 2048px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_071252.jpg\"><img decoding=\"async\" class=\"wp-image-416659 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_071252.jpg\" alt=\"\" width=\"2048\" height=\"1278\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_071252.jpg 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_071252-300x187.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_071252-1024x639.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_071252-768x479.jpg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_071252-1536x959.jpg 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240821_071252-1200x749.jpg 1200w\" sizes=\"(max-width: 2048px) 100vw, 2048px\" \/><\/a><figcaption id=\"caption-attachment-416659\" class=\"wp-caption-text\">Source: Bitcoin Strategy Platform<\/figcaption><\/figure>\n<p>TON&#8217;s market cap was $16.82 billion at press time, with a fully diluted market cap of $34 billion.<\/p>\n<hr \/>\n<p style=\"text-align: center;\">Is your portfolio green? Check out the\u00a0<a href=\"https:\/\/ambcrypto.com\/calculator\/profit\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">TON Profit Calculator<\/a><\/p>\n<hr \/>\n<p>The trading volume in the last 24 hours was $227 million, and the volume-to-market cap ratio was 1.4%, indicating adequate liquidity.<\/p>\n<figure id=\"attachment_416660\" aria-describedby=\"caption-attachment-416660\" style=\"width: 678px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/IMG-20240821-WA0001.jpg\"><img decoding=\"async\" class=\"wp-image-416660 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/IMG-20240821-WA0001.jpg\" alt=\"\" width=\"678\" height=\"382\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/IMG-20240821-WA0001.jpg 678w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/IMG-20240821-WA0001-300x169.jpg 300w\" sizes=\"(max-width: 678px) 100vw, 678px\" \/><\/a><figcaption id=\"caption-attachment-416660\" class=\"wp-caption-text\">Source: DefiLlama<\/figcaption><\/figure>\n<p>At press time, the circulating supply stood at 2.53 billion out of a total of 5.1 billion TON tokens.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TON&#8217;s network activities surge, driving the actualization of its price action patterns.<\/p>\n","protected":false},"author":98,"featured_media":416703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[6427],"class_list":["post-416638","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view","tag-ambcrypto"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Toncoin hits record high daily active addresses, but is TON a &#039;bubble&#039;? 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