{"id":430274,"date":"2024-10-06T00:30:33","date_gmt":"2024-10-05T19:00:33","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=430274"},"modified":"2024-10-05T13:37:31","modified_gmt":"2024-10-05T08:07:31","slug":"toncoins-adoption-surge-will-it-be-enough-to-stop-tons-downtrend","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/toncoins-adoption-surge-will-it-be-enough-to-stop-tons-downtrend\/","title":{"rendered":"Toncoin&#8217;s adoption surge &#8211; Will it be enough to stop TON&#8217;s downtrend?"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">Market sentiment around the token was bullish last week<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Technical indicators hinted at a price hike in the coming days<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">After a week which saw <\/span><a href=\"https:\/\/ambcrypto.com\/predictions\/the-open-network-price-prediction\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Toncoin&#8217;s [TON]<\/span><\/a><span style=\"font-weight: 400;\"> price almost fall by double digits, its bulls finally gained control. However, it was interesting to note that while the coin\u2019s price action remained volatile, its adoption across the market rose sharply. Hence, the question &#8211; Will this be enough to push the coin\u2019s price up further?\u00a0<\/span><\/p>\n<h2>A deep dive into Toncoin\u2019s ecosystem<\/h2>\n<p><span style=\"font-weight: 400;\">IT Tech, a popular crypto analyst, shared a <\/span><a href=\"https:\/\/x.com\/IT_Tech_PL\/status\/1842188107996627192?t=V_V1ks658v3ik4c-BgRhIA&amp;s=19\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">tweet<\/span><\/a><span style=\"font-weight: 400;\"> highlighting quite a few notable developments related to the Toncoin ecosystem. The tweet first mentioned that Toncoin&#8217;s daily active addresses have surged, hitting 3.8 million by late September from 2.2 million in August. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This clearly pointed to a considerable hike in TON\u2019s usage and adoption across the globe.\u00a0<\/span><\/p>\n<figure id=\"attachment_430275\" aria-describedby=\"caption-attachment-430275\" style=\"width: 2120px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-05-at-6.12.07\u202fAM.png\"><img decoding=\"async\" class=\"wp-image-430275 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-05-at-6.12.07\u202fAM.png\" alt=\"\" width=\"2120\" height=\"1220\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-05-at-6.12.07\u202fAM.png 2120w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-05-at-6.12.07\u202fAM-300x173.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-05-at-6.12.07\u202fAM-1024x589.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-05-at-6.12.07\u202fAM-768x442.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-05-at-6.12.07\u202fAM-1536x884.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-05-at-6.12.07\u202fAM-2048x1179.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-05-at-6.12.07\u202fAM-1200x691.png 1200w\" sizes=\"(max-width: 2120px) 100vw, 2120px\" \/><\/a><figcaption id=\"caption-attachment-430275\" class=\"wp-caption-text\">Source: X<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Another noteworthy development pertained to the whales. <\/span>As per the tweet,<\/p>\n<blockquote><p>\u201cWhale concentration is notably high in the TON ecosystem, with GOMINING and JETTON showing 97% concentration. Such dominance by large holders could influence market dynamics, impacting smaller investors and overall market fluidity.\u201d<\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">Apart from this, the token\u2019s price action has also remained pretty much stable. Despite market fluctuations, Toncoin&#8217;s market cap remained steady at $13.4 billion, as of late September. This reflected investor confidence and Toncoin&#8217;s strong positioning within the ecosystem, offering a sense of security amidst volatility.<\/span><\/p>\n<h2>Will these help TON turn bullish?<\/h2>\n<p><span style=\"font-weight: 400;\">While all this happened, TON\u2019s price dropped by over 9% last week. And yet, the last 24 hours were in investors\u2019 favor as Toncoin saw a more than 1.8% price hike. At the time of writing, the token was <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/toncoin\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">trading<\/span><\/a><span style=\"font-weight: 400;\"> at $5.42. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Therefore, AMBCrypto planned to check the token\u2019s on-chain data to find out whether the rising adoption and other aforementioned factors were enough to sustain this bull rally. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">As per our analysis of Santiment\u2019s data, Toncoin\u2019s weighted sentiment remained in the positive zone for a majority of last week. This meant that bullish sentiment around the token was high. Its social dominance was also relatively high, reflecting the token\u2019s popularity in the crypto space. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">On top of that, TON\u2019s supply on exchanges recorded a massive drop. This indicated that investors have been buying the token in hope for a sustained price hike in the coming days.\u00a0<\/span><\/p>\n<figure id=\"attachment_430276\" aria-describedby=\"caption-attachment-430276\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Toncoin-TON-06.34.15-05-Oct-2024.png\"><img decoding=\"async\" class=\"wp-image-430276 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Toncoin-TON-06.34.15-05-Oct-2024.png\" alt=\"Toncoin's supply on exchanges dropped\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Toncoin-TON-06.34.15-05-Oct-2024.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Toncoin-TON-06.34.15-05-Oct-2024-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Toncoin-TON-06.34.15-05-Oct-2024-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Toncoin-TON-06.34.15-05-Oct-2024-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Toncoin-TON-06.34.15-05-Oct-2024-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Toncoin-TON-06.34.15-05-Oct-2024-2048x693.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Toncoin-TON-06.34.15-05-Oct-2024-1200x406.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-430276\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Read <\/span><a href=\"https:\/\/ambcrypto.com\/predictions\/the-open-network-price-prediction\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Toncoin (TON) Price Prediction<\/span><\/a><span style=\"font-weight: 400;\"> 2024-25\u00a0\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">We then checked TON\u2019s daily chart to find what market indicators suggested regarding a sustained bull rally. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">As per our analysis, TON\u2019s price touched the lower limit of the Bollinger Bands. Whenever that happens, it means that the chances of a northbound rally are high. If that actually happens, then TON might first target $6.8. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, in case the bears take over, then the token\u2019s price might drop to $4.4 on the charts.\u00a0\u00a0<\/span><\/p>\n<figure id=\"attachment_430277\" aria-describedby=\"caption-attachment-430277\" style=\"width: 2308px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/TONUSDT_2024-10-05_06-36-33.png\"><img decoding=\"async\" class=\"wp-image-430277 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/TONUSDT_2024-10-05_06-36-33.png\" alt=\"\" width=\"2308\" height=\"1456\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/TONUSDT_2024-10-05_06-36-33.png 2308w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/TONUSDT_2024-10-05_06-36-33-300x189.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/TONUSDT_2024-10-05_06-36-33-1024x646.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/TONUSDT_2024-10-05_06-36-33-768x484.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/TONUSDT_2024-10-05_06-36-33-1536x969.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/TONUSDT_2024-10-05_06-36-33-2048x1292.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/TONUSDT_2024-10-05_06-36-33-1200x757.png 1200w\" sizes=\"(max-width: 2308px) 100vw, 2308px\" \/><\/a><figcaption id=\"caption-attachment-430277\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Toncoin\u2019s adoption surged substantially, but will it help increase TON\u2019s price?\u00a0<\/p>\n","protected":false},"author":75,"featured_media":430278,"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":[],"class_list":["post-430274","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Toncoin&#039;s adoption surge - Will it be enough to stop TON&#039;s downtrend? - AMBCrypto<\/title>\n<meta name=\"description\" content=\"After a week which saw Toncoin&#039;s [TON] price almost fall by double digits, its bulls finally gained control. 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