Over the past two days, the price of Telegram Open Network (TON) tokens has jumped by an impressive 38%. This significant gain has propelled TON into the ranks of the top performing cryptocurrencies with large market capitalizations.
But what’s the reason behind this growth?
The crypto market is on the mend, with Ethereum taking the front seat by reaching $3,800. As a major player in the cryptocurrency world, Ethereum’s advance often indicates a broader market upturn. Notably, TON has also surged during this recovery period.
An significant advancement unique to TON is Telegram’s new plan to allow channel proprietors on their platform to earn money, commencing with those managing a thousand or more followers. TON is built into Telegram’s infrastructure for handling these financial transactions.
Thirdly, TON seems less affected by the common price adjustments in the cryptocurrency sector. Its connection to Telegram sets it apart, providing distinct benefits and a distinct development trajectory compared to other digital currencies.
If the token’s price is now higher than $6, the next hurdle for it is the resistance level. Overcoming this barrier might indicate more room for the price to rise.
Based on its recent progression and current market sentiment, TON has a good chance of advancing further. A significant level to keep an eye on is $7, as it represents a psychological barrier that investors are eager for TON to surpass. Nevertheless, the initial surge in momentum may be starting to wane, increasing the likelihood of a corrective period.
Based on current conditions, TON‘s future looks optimistic, provided the market continues to bounce back. However, exercise caution and avoid impulsively investing in popular assets at this moment. History has shown that the crowd is often mistaken.
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2024-04-09 17:46