has gained more than 12% per week and entered the top ten cryptocurrencies. This performance is particularly notable given the broader market downturn, where prominent cryptocurrencies like BNB and Shiba Inu have seen declines exceeding 10%. Crypto analyst Ali Martinez has expressed a outlook on TON, highlighting its potential for further gains.
Decentralized Finance (DeFi) and Platform Growth
Toncoin’s ecosystem is still growing, and the TVL has reached nearly $600 million. This growth is partly attributed to the decentralized exchange DeDust, which currently holds the highest TVL of $294 million. The growing interest in Notcoin, a gaming coin on Telegram, has also contributed to the increase in the TVL, which shows the increasing use of the Toncoin network.
Toncoin Technical Analysis: Stability Near Resistance as Market Eyes Upswing
On the daily chart, Toncoin is located near the critical level of $8.0, which oscillates slightly within the Bollinger Bands (BB) channel. The price has consistently tested the $8.0 resistance level, hinting at possible bullish sentiment in the market. The Bollinger Bands are moderately wide, suggesting increased volatility, with today’s range stretching from $6.09 to $8.30.
