Bittime - The price of Toncoin (TON), the native token of The Open Network, a Proof-of-Stake (PoS) based platform integrated with the popular short messaging application Telegram, is trending positively. Currently, TON is trading around $7.19, up 4.46% in the last 24 hours and 18.7% in the past week.
With a market capitalization of $24.9 billion, Toncoin is firmly established as the eighth largest crypto asset. In addition, trading volume in the last 24 hours also rose 97.90% to $518 million.
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Notcoin is the reason for the price increase
One of the main drivers of Toncoin's recent price increase is the launch of the highly anticipated Notcoin play-to-earn game, scheduled for May 16. Notcoin, a social clicker game operating within the Telegram app, has amassed more than 34 million players who have “mined” virtual Notcoin tokens.
Also read: Toncoin (TON) Becomes a Payment Tool on Telegram
The Notcoin team has confirmed that there will be an airdrop of a new crypto asset, NOT. These tokens will be distributed to 34.5 million Notcoin token holders.
Starting May 16, NOT will begin operating on the TON Blockchain, further fueling demand for Toncoin as users look to participate in airdrops and experience the benefits of the Open Network ecosystem.
The positive sentiment surrounding Toncoin is getting stronger driven by Pantera Capital's recent investment in The Open Network. On May 2, the leading crypto investment firm announced an undisclosed investment in the PoS ecosystem.
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They cited its integration with Telegram as the main factor behind the decision. Pantera Capital believes that the partnership between Open Network and Telegram positions TON as one of the largest crypto networks thanks to Telegram's extensive reach.
Additionally, in April, TON Foundation and HashKey Group formed a strategic alliance to strengthen the capacity of the TON Ecosystem in managing their finances in the Asia-Pacific region.
Also read: Notcoin (NOT) Launch Postponed, Here's Leaked Information!
This partnership aims to improve the infrastructure and operational efficiency of the TON Ecosystem by leveraging the capabilities of HashKey Group.
Through collaboration, the two organizations seek to increase crypto adoption and access to its technology in the region. This strategic alliance further strengthens Toncoin's position as a major player in the crypto market and provides a strong foundation for continued growth and adoption.
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TON Technical Analysis
Source: Bittime
From a technical analysis point of view, Toncoin price movements are extraordinary. Since the start of the year on January 3, TON surged from $1.87 to a high of $7.67 on April 11, representing a massive gain of 310%.
Following the rally, TON underwent a 39% correction, but found dual support at the $4.6 level, where horizontal support and an ascending trend line converge. Currently, the price of Toncoin (TON) has increased by 4.53%. The TON token is trading at $7.19.
How to Buy Toncoin (TON) on Bittime
You can buy and sell Toncoin (TON) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Toncoin (TON) is available on Bittime with the market pair TON/IDR. To be able to buy TON IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Toncoin (TON) on Bittime.
Monitor the price chart movements of Toncoin (TON), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Toncoin (TON) Price Predicted to Increase in the Near Future!
Uncovering Toncoin's Potential: Analysis After Pantera Investment
Telegram Distributes Toncoin (TON) to Channel Owners
Toncoin Will Make a Big Announcement, Will TON Price Increase?
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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