Toncoin (TON) Price Fluctuates Amid 100 Million Holders

Toncoin price experiences a notable impact as The Open Network (TON) celebrates reaching 100 million holders. This milestone represents significant growth

As the crypto market experiences selling pressure, Toncoin (TON) price has seen a slight dip. This dip comes amid a broader market correction following a period of bullish momentum. However, The Open Network (TON) has achieved a significant milestone with over 100 million holders.

Toncoin Price Fluctuates Amid 100 Million Holders

The Open Network (TON) has celebrated reaching 100 million holders, showcasing remarkable growth from 4.3 million at the beginning of the year. A holder in this context refers to a unique address with a non-zero balance on the TON network.

“At the beginning of the year, the number of holders was ‘only’ 4.3 million. This shows that #TON has experienced huge growth.” – By @JA_Maartun

Read more ?https://t.co/sqFPm5bM9d pic.twitter.com/V0Ikl1bkXF

— CryptoQuant.com (@cryptoquant_com) October 8, 2024

This sharp increase in holder numbers highlights TON’s accelerating adoption, especially in recent months. The introduction of major Telegram gaming tokens on the network, such as Hamster Kombat, has contributed to this surge.

Whether viewing TON as a cryptocurrency or network, it is undeniable that the platform is bringing millions of Telegram users into the crypto space, expanding the global crypto community to new heights.

Toncoin Price To Rebound To ATH?

Today, the TON price experienced a 1.41% decrease, currently trading at $5.21. The Telegram-based altcoin encountered a 24-hour price range of $5.15 to $5.31, reflecting the volatility present in the broader crypto market.

Having reached an all-time high of $8.24 on June 15, 2024, the Toncoin price has since dropped by 36.76%. However, this still marks a substantial increase of 1,233.24% from its all-time low of $0.3906, recorded on September 20, 2021.

The Layer 1 coin appears to be undergoing a correction, indicating a potential downward trend. The market sentiment leans toward weakness, which could amplify the current decline. However, if bullish pressure emerges, the TON price might encounter resistance at the $6 level. If this momentum continues, it could propel the price toward its all-time high of $8.24.

The Moving Average Convergence Divergence (MACD) indicator shows a minor bullish crossover. The MACD line crossed above the signal line, indicating a potential trend reversal. But the MACD histogram remains close to neutral, suggesting the market is yet to gain bullish momentum.

After reaching 100 million holders, Toncoin’s price encountered a correction, but its growing user base could provide support for its recovery. If bullish momentum returns, the price could rebound, potentially reaching its all-time high again in the coming months.

1. What factors are driving the adoption of Toncoin?

The Open Network (TON), powered by Telegram, has seen a massive surge in adoption, largely driven by the platform's integration with Telegram, one of the world's most popular messaging applications. This integration has played a crucial role in onboarding millions of new crypto users, particularly in emerging markets.

Additionally, TON's focus on gaming, decentralized applications (dApps), and a user-friendly experience has contributed to its growing appeal among mainstream audiences. The recent introduction of several Telegram gaming tokens, such as Hamster Kombat, has further accelerated TON's adoption.

2. What is the significance of the 100 million holders milestone?

As TON celebrates reaching 100 million holders, this achievement marks a significant expansion in the platform's user base. Notably, at the beginning of 2024, TON had only 4.3 million holders, highlighting the platform's remarkable growth throughout the year.

This milestone is particularly noteworthy as a "holder" in the TON context refers to a unique address maintaining a non-zero balance on the TON network. This definition excludes any dust or negligible balances, providing a more precise measure of active users.

3. Could Toncoin rebound to its all-time high?

After reaching an all-time high of $8.24 on June 15, 2024, Toncoin price has experienced a notable decrease. However, with the recent bullish momentum and increasing adoption, Toncoin price could potentially rebound toward its all-time high in the coming months if market conditions remain favorable.

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