Toncoin (TON) Investors Load Up Their Bags As Majority Of Cryptos Nosedive

Kent Tenix

Last Updated: June 11, 2024 8:32 am

3 mins read

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Toncoin (TON) has showcased healthy market status since the end of last week. According to historical data from TradingView, it witnessed a consecutive bullish trajectory from August 11, 2023, until today, August 16.

The upward movement drew the attention of investors, resulting in a price increment of over 12% gain in the past seven days. Notably, the latest developments within Toncoin’s ecosystem could be the reason for the market uptick in the past few days.

However, TON’s market value today, August 16, is $1.44, representing a price drop of over 2% in the last 24 hours. With this current price, the asset is almost 19.7% up in the past 14 days, 7% in 30 days, and 17% in the past year.

Recent Development Within Toncoin Ecosystem Pushes TON’s Value

There have been a lot of events on Toincoin’s ecosystem attracting massive investor attention and investment. Today August 16, Toincoin shared a post on X about its Indonesia event in Bali slated for August 23, inviting the crypto community to join.

Also, on August 14, Toincoin shared another update on expanding its ecosystem globally through the X platform. Toincoin shared that it has taken another step to increase its global reach by launching the network’s website in Ukraine.

This move shows the project’s commitment to increasing the asset’s adoption. Also, the team behind the TON projects wants to discover how Web3 teams could easily sign documents in Telegram.

In its X post, the team behind TON wrote:

For those who will be in Lisbon this Thursday, August 17, TON Society Europe is kicking off its journey with an exciting offline event.

TON’s price currently hovers at $1.4473 in the daily chart. | Source: TONUSD price chart from TradingView.com

Earlier on August 11, the TON community, via its X handle, shared a tweet from a known payment gateway for cryptocurrencies, NOWPayments.

The report noted that the payment service had incorporated TON into its technology to enable a seamless non-fungible token checkout from different marketplaces.

This announcement triggered a rise in the market value of TON, verifiably from historical data on TradingView. From the data, the digital asset kick-started its bullish trend on the same day the news was announced.

It recorded a price gain from $1.259 to $1.302, reflecting a positive price change of about 3.4% in 24 hours. As the news spread, investors filled their portfolios with TON, despite the price decline of some other crypto assets.

Toncoin entry into the NFT sector could have been the reason for the continued purchase of more TON tokens. Investors are hopeful that the digital asset’s value will appreciate in the future because of NFTs.

These new updates contributed to the positive market sentiment after the association with NOWPayments triggered the price gains.

Featured image from Pixabay and chart from TradingView.com

Kent Tenix

Kent is a talented freelance writer and journalist who creates insightful and thought-provoking content. With over 5 years of experience, she has honed her skills and established herself as an expert in her field. Kent is especially passionate about in-depth reporting and investigative journalism. She thoroughly researches every topic and story she covers to provide readers with comprehensive information and perceptive analysis. Whether she's reporting on crypto, business, technology, or finance, Kent prioritizes accuracy, nuance, and integrity. Her goal with every piece is to inform readers and inspire meaningful conversations and positive change. Kent enjoys traveling, photography, and spending time with her family when she's not tirelessly conducting interviews or poring over data. She hopes to continue using her writing to enlighten and engage audiences on issues that matter.

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