Toncoin Price Prediction 2024
- Toncoin (TON) has gained 441% over the last one year and 40% over the last 90-days.
- Toncoin price surge is attributed to Telegram’s integration of the Open Network, launch of an advertising platform and a promising P2E gaming ecosystem.
- Toncoin’s Total Value Locked (TVL) on the Ton Blockchain increased to $725.31 million in 2024.
- Toncoin (TON) price forecast is predominantly bullish both in the near and long-term.
Toncoin price prediction by the end of H2 2024 (in the near term) is dependent on several factors, major being development on the Open Network’s ecosystem, projects launching on the network, overall performance of the cryptocurrency market, and traction of Telegram’s advertising platform which will process payments in TON. Of course these factors will contribute to Toncoin’s long-term performance between 2025 - 2030.
Related: Toncoin Is Topcoin In Q2 Price Performance Among 50 Tokens
Read on as we explore Toncoin cryptocurrency updates, factors contributing to the cryptocurrency’s future and Ton’s future outlook past 2024.
Toncoin Latest Developments
Here are the latest developments in Toncoin news today:
Ton Wallet
One of Ton Network’s biggest wins is being integrated with Telegram. The messaging app registers approximately 55.5 million daily active users and 700 million monthly active users. Undoubtedly, the Open Network has received a significant boost in visibility from Telegram’s massive user base.
Besides, these users can transact directly within the app following its integration with the Ton Wallet, The Open Network’s official cryptocurrency wallet. Through the wallet, you can buy, sell or trade cryptocurrency. You can also become a local P2P merchant and facilitate cryptocurrency transactions on the Telegram app using Ton Wallet.
Telegram Stars
Telegram introduced Stars as a feature for users to pay for digital goods on the messenger app such as the buying of user names on Fragment.
The feature also provides monetization features for creators to gate premium content. Users unlock this content using Telegram Stars, the creators then withdraw and convert them to $TON.
Play to Earn Games
Telegram games have soared to popularity in recent days with Notcoin, Hamster Kombat and Pixie Pixels registering millions of users within a short timespan.
Notcoin, a tap to earn game launched in 2024 and raked in over 35 million players. The game also garnered 6 million daily active players on one of the days. Hamster Kombat, the second Telegram game to spiral to popularity, has already recorded 50 million players before even launching its token.
Apparently, these play to earn games are commanding significant user numbers and might prolly become the standard approach for bridging Web3 to mainstream users. Ton forecasts from expert analysts predict that TON’s price could reach new heights once Hamster Kombat lists on exchanges in July.
Telegram Ad Platform
Telegram kicked off its advertising platform in March 2024. The platform is built on the Open Network (TON) blockchain and according to Founder and CEO of Telegram Pavel Durov, advertising revenue will be split on a 50:50 ratio with channel owners where payouts will be made in $TON.
Impact on Toncoin Price Trends and Value
The above mentioned developments and many others on The Open Network’s roadmap have significantly contributed to blockchain’s growth. Total Value Locked (TVL) surged from $13.51 million to a staggering $725.31 million between January and July 2024. These gains underscore the team’s commitment to expanding the network’s use cases, adoption and strong confidence among investors.
In its new report titled ‘According to CMC 2024 H1’ CoinMarketCap ranked Toncoin among the top gainers of 2024’s first half.
Toncoin Current Market Analysis
Despite being among the top gainers of the first half of 2024, things have not been good for Toncoin over the last 7-days after recording 7.08% in losses. One of the key drivers of this drop could be the downturn in the overal cryptocurrency market, with Bitcoin and Ethereum having lost 3% and 7% since last week, respectively. Bitcoin has gone down mainly because of the ongoing repayments of Mt. Gox creditors.
However, the cryptocurrency is not trading too far from its All Time High of $8.2 which it tested on 15th June 2024. At press time, $TON is changing hands at $7.38 with Toncoin forecasts emphasizing its only a matter of time until the cryptocurrency retests a new high.
Toncoin Technical Analysis
Since June 2024, Toncoin ($TON) price has been consolidating within an uptrend between $6.38 and $8.20. The cryptocurrency attained an all time high of $8.2 on 15 June where it met strong selling pressure that saw the price of $TON drop to $6.79 on 19 June. After attaining this level, buyers managed to push the price back to $7.8 towards the end of June, and finally $8.14 at the beginning of July. However, the bears are still very much active so the bulls could not sustain the high levels causing the price to retest $6.3 on 5th July.
Meanwhile, the bulls are waging strong support that could drive Toncoin towards a rally in the near future. This is dependent on the bulls breaking above the $7.4 resistance zone where the price will only have the $8.2 ATH as its next target.
Expert Opinions and Predictions
Pantera Capital : Toncoin’s Investment Potential Attracts Investments Giant
Pantera Capital praised TON in April 2024 while announcing investment of an undisclosed amount. According to Pantera, TON has become the most potential cryptocurrency in the space thanks to its integration with Telegram.
The blog post announcing the investment deal went on to acknowledge that TON’s performance and scalability is at par with leading blockchains, while its wallet offers a simple interface for average Telegram users to explore the cryptocurrency world.
Price Prediction Net
Cryptocurrencies price prediction service, PricePrediction.Net posted a bearish Toncoin future outlook which indicates $2.98 as the maximum price for 2024, which is already 5-points below what the coin has already achieved. However, the website predicts Toncoin will exchange for as high as $28.86 by 2030.
DigitalCoinNet
DigitalCoinNet’s Toncoin price speculation shows that the cryptocurrency could reach as high as $105 by 2032 in the long-term, and upto $16.04 by the end of 2024. Here is a chart from the price prediction site indicating Toncoin’s future outlook:
Another Toncoin future outlook by Gov.Capital indicates the highest price in the next one year will be $13.91. Here is a line chart showing how Gov Capital expects $TON to perform 1-year from now:
Conclusion
Toncoin shows alot of potential judging from the promising developments and activity already happening on the blockchain. Always be on the lookout for major upgrades as they are also key drivers of price. While it is entirely impossible to predict the future price of a digital asset given their volatility, a fundamental assessment of the roadmap, user numbers and activities, investor sentiment, builders deploying on its blockchain and the team’s commitment can help approximate the future outlook of a cryptocurrency. In these articles, we have really gone into these details, factored out what really makes Toncoin a top coin and even compared different Toncoin price forecasts.
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