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Toncoin price is showing green today as the broader crypto market favors buyers. This surge is likely attributed to the positive development within the Tonchain blockchain.
Investors in Toncoin may find this upward movement encouraging, potentially leading to increased confidence in the project’s future. As a result, demand for the coin might also increase, pushing its price to the $3 mark in the days ahead.
Toncoin Price Action
Looking at the TON/USDT chart, since late August 2023, the coin has been on an uptrend. This uptrend led the coin to reach a high of $2.61 on September 29. However, the bears made several attempts to drop the price, which caused TON to consolidate around the $2 level.
Looking at the current momentum, if the market closes today on a green candle, it may breach $2.61 or even higher. CoinGecko, data shows that the coin has recorded a 9% price increase in the last 24 hours.
As of 7:00 a.m. EST, TON is trading at $2.60 with a 24-hour trading volume of $73 million.
Also, over the last 7 and 14 days, the coin is up by over 22% & 21% respectively. Generally, this implies that both in the short and longer timeframe, there are more buyers than sellers.
What’s Pushing Toncoin’s Price Up – Can it Sustain this Growth?
Looking at the project’s Twitter page, several factors could drive the price of Toncoin. Firstly, on November 1, Toncoin announced a remarkable record, which fueled positive sentiment in the market.
According to the post, the project is now the fastest Blockchain in the cryptocurrency industry.
🎉 On Oct 31, TON set a new world record for most TPS and claimed the title of the fastest #blockchain in the world! 🏆
Delve deeper into #TON’s historic public performance test👇 pic.twitter.com/Y0bKUkNrkJ
— TON 💎 (@ton_blockchain) November 1, 2023
This announcement boosted investor’s confidence and could attract more businesses to utilize the blockchain. Notable, since November 1, the market has been going smoothly and may continue moving this way. After this news, the team shared another update on November 2.
Based on the post, Rocket has launched the Telegram Mini App (TMA). Further, this app will allow over 800 million telegram users to seamlessly trade the native coin $TON. Also, it will enable users to place a market order without leaving the messenger.
🚀 @xRocket_tg launched the first fully-fledged Telegram Mini App (TMA) exchange!
800M+ @telegram users can now seamlessly trade $TON and jettons with limit and market orders without leaving the messenger.
Learn more👉 pic.twitter.com/ExBwi6Dt26
— TON 💎 (@ton_blockchain) November 2, 2023
Interestingly, this development will increase the demand for the TON, potentially influencing price positively. Furthermore, to make this mini-app simple for developers, the project’s team joined forces with Chainbase and Tencentcloud.
6/ TON Foundation teamed up with @ChainbaseHQ and @tencentcloud to enhance the #TON-based Web3 ecosystem in @telegram, making the development of mini-apps easier for builders.
— TON 💎 (@ton_blockchain) November 3, 2023
The collaboration aims to enhance the functionality of Telegram’s Ton-based Web3 ecosystem. Surprisingly, in the early hours of today, November 8, another significant development occurred within the Toncoin ecosystem.
Layerswap revealed that it has integrated Ton into its ecosystem.
New ecosystem unlocked 🔓
Layerswap now supports @ton_blockchain, the chain powering @wallet_tg!
💎 Move funds from Ethereum, Solana, L2s and CEXes to #TON
💎 Get $TON with the transfer to cover gas and explore the ecosystem pic.twitter.com/cCjl9Bwt7k— Layerswap (@layerswap) November 7, 2023
Users can now seamlessly transfer funds from various blockchains like Ethereum, Solana, Layer-2 solutions, and CEX to the TON blockchain. This enables greater flexibility and accessibility in managing assets.
Also, users who transfer to the TON blockchain through Layerswap will receive $TON tokens as part of the process.
This helps cover gas fees and encourages users to explore the TON ecosystem. Overall, this integration facilitates a smoother transition of assets onto the TON blockchain, potentially expanding the user base and enhancing the functionality of the TON ecosystem.
Toncoin Price Analysis: Technical Indicators Show Positive Outlook
Based on technical indicators on the chart, TON/USDT is exhibiting bullish momentum at the moment. The coin is above both the 50-day and 20-day SMA indicators, suggesting that the market trend is positive.
Also, the Moving Average Convergence Divergence (MACD) is above the signal line and shows green bars. This signifies positive momentum and suggests that the TON’s price will likely continue moving upwards.
Generally, the current momentum is bullish and could be this way if buyers sustain the pressure. However, while these indicators point to a bullish trend, it’s important to note that no guarantee exists in the volatile cryptocurrency market.
Toncoin Alternative: Bitcoin Minetrix
Bitcoin Minetrix (BTCMTX) has been making waves with its unique stake-to-mine BTC approach. The project’s presale has garnered an impressive $3.6 million investment, nearing its $3.9 million goal.
With the subsequent presale phase underway, the enthusiasm for investment remains strong. The combination of high interest in the presale and the innovative cloud mining strategy has sparked discussions in the industry, indicating potential for significant growth.
Bitcoin Minetrix: A Game-Changer in the Crypto Landscape
Bitcoin Minetrix’s innovative cloud mining feature has caused investors to reassess which Bitcoin-centric token has more importance. Bitcoin Minetrix aims to provide a straightforward entry into Bitcoin mining, potentially substantially impacting the crypto market.
Initiatives like Bitcoin Minetrix hold the potential to be game-changers. Bitcoin Minetrix tokenized cloud mining sets it apart from other platforms that aim to ease the process.
This allows investors to engage in mining with a low capital budget. Due to its innovative features, more investors are now interested in the project.
Bitcoin Minetrix Presale Activities
>>>Visit Bitcoin Minetrix Presale<<<
Presently, the Bitcoin Minetrix is selling its native token for $0.115 through this presale. This represents a ten percent gain from its previous stage’s price. According to the site, there’s a limited timeframe for the presale, creating a fear of missing out (FOMO) among investors.
Investors can purchase the token using ETH, BNB, or credit card transactions. Meanwhile, remember that the project has announced an enticing Gleam competition for its community.
This is another for early investors to gain from the project before it goes live.
According to the site, the competition has a prize pool of $30,000. Note that users are required to complete a simple task before they can join the competition. Also, there are 236 days remaining before the competition ends. Investors need to act fast before the conclusion of completion.
Ultimately, Bitcoin Minetrix is a promising project that could do 10x after it gets listed on a crypto trading exchange.
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