After Solana, Toncoin Could Be The Next Ethereum-killer

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As a seasoned researcher with over two decades of experience in the ever-evolving world of cryptocurrencies, I find myself intrigued by the meteoric rise of Toncoin (TON). My personal journey in this digital frontier has taught me that the crypto market is often unpredictable, yet fascinatingly dynamic.

The price of Toncoin (TON), an altcoin built on Telegram, has seen a substantial increase in worth recently. Currently, it’s trading above its established support level, implying that a bullish trend could persist. This growth potentially places Toncoin as a contender to challenge Ethereum, much like Solana has done in the past. Interestingly, Solana itself has experienced a minor dip, reflecting a wider struggle for momentum across the cryptocurrency market.

Why Toncoin Could Dethrone Solana as the Next Ethereum-killer

As a crypto investor, I’ve been closely watching Toncoin’s progress, and it seems poised to challenge Ethereum in the coming bull market (2023-2024). In many ways, its trajectory mirrors Solana’s impressive surge during the same period. What made Solana appealing was its integration of meme coins and low transaction fees, which attracted both veteran investors and piqued the interest of the general public. I find myself intrigued by Toncoin’s potential to replicate this success formula.

By combining affordable costs and viral content, a thriving growth platform was established, propelling Solana’s market value to unprecedented levels. However, as the popularity of Solana’s meme coin diminishes and its tokens become abundant due to problems related to the FTX crash, Toncoin is poised to take advantage of this transition.

Due to a surge in popularity triggered by the popular DOGS meme, Toncoin seems to be on track to gain worth, much like other cryptocurrencies. This could lead to it being seen as a potential competitor to Ethereum, perhaps even an ‘Ethereum-replacer’ in the rapidly changing blockchain market.

Over the past four months since integrating with Telegram, Toncoin has experienced a substantial increase of approximately $729 million worth of USDT, placing it among the top contenders in the stablecoin market. In terms of USDT alone on Toncoin, it would be recognized as the seventh largest stablecoin worldwide.

TON is rapidly expanding with $729M USDT in just 4 months since its integration into Telegram.
$TON could experience significant expansion due to its advantageous low transaction fees and increasing popularity among Peer-to-Peer transactions and Decentralized Exchanges (DEXs).
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— CryptoQuant.com (@cryptoquant_com) September 13, 2024

1) The typical transfer fee continues to be set at 4 cents, facilitating numerous, smaller transactions commonly seen in retail environments. Additionally, USDT being incorporated into decentralized exchanges on Toncoin boosts liquidity, hinting at significant usage within the DeFi sector. This integration points towards an encouraging path for Toncoin’s network growth.

Toncoin Price Analysis: TON Bulls Prepare For 90% Rally

Over the past day, the price of the leading altcoin has experienced a significant boost. At the moment of this report, TON is being traded at $5.66, marking a robust growth of 4.81% within U.S trading hours. According to CoinMarketCap statistics, the trading volume has spiked dramatically by 366.21%, suggesting increased enthusiasm and activity in the market.

In simpler terms, the Moving Average Convergence Divergence (MACD) is signaling an increasing bullish trend as it crosses over its signal line. Meanwhile, the Relative Strength Index (RSI), currently at 53.26, is approaching the overbought territory. This suggests a growing strength in the market’s upward momentum.

After Solana, Toncoin Could Be The Next Ethereum-killer

The Toncoin market is exhibiting optimistic indicators, noticeably TON, which appears poised to exceed $6. Should this upward trajectory persist, its value may escalate to $8 and potentially hit $10 in no time. This anticipated rise hints at a bullish forecast for the immediate future.

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2024-09-13 18:20