Toncoin the decentralized storage blockchain project has enjoyed a remarkable revival in 2024. Its native crypto TON surged from a lowly $1.87 to an all-time high of $8.28 marking a staggering 342% gain. This impressive rally catapulted TON into the top ten cryptocurrencies by market capitalization according to CoinMarketCap.
Even after a recent market downturn TON remains strong at $7.19 with many analysts predicting a $20 milestone before year’s end. The crypto community is increasingly bullish on TON. After a rebrand from Telegram Open Network to The Open Network the TON Foundation has led the project gaining significant support.
TON’s bullish momentum is evident in its minimal pullbacks despite broader market volatility. A 40% correction in April tested the 0.5 Fibonacci retracement level before rebounding to the current ATH. TON now commands an $18.08 billion market capitalization offering instant payments decentralized storage and a domain name system.
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