Bittime - Toncoin (TON), a crypto asset born from the Telegram messaging platform is showing a significant price surge. TON has caught the attention of investors and market watchers. The recent increase in TON price was driven by massive investment from Pantera Capital, a well-known venture capital giant.
New TON Translucent ATH Price
On May 10, TON experienced a price increase of almost 10%, reaching a value close to $7 (approximately Rp112,000) from the previous daily low of $5.80 (approximately Rp93,000). This increase continues the positive trend that began since May 8, when the price of TON recorded a higher low at $5.60 (around Rp90,000).
Only 10% away from its all-time high of $7.70, many are wondering if TON will continue to advance to new peaks or get stuck in a "double top" pattern signaling a possible downturn.
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Pantera Capital Investment Entry
Pantera Capital showed its faith in TON by making the largest investment in their history in the Telegram blockchain network. Although the value of the investment was kept secret, Pantera Capital revealed several reasons behind their choice, including compliance with crypto principles, efficient scalability, and seamless wallet integration through the Telegram app.
They believe that TON is a promising project in the early stages of development, and hope Telegram's large user base will drive the adoption of the Toncoin blockchain network and its features significantly.
This investment announcement coincided with the TON price hike on May 8, and can be seen as a catalyst that boosted retail investor interest.
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Toncoin (TON) Price Technical Analysis
The price of TON reached an all-time high of $7.70 (approximately Rp123,000) on April 12, contrary to the overall sluggish market trend on April 13. However, after reaching its peak, the TON price experienced a sharp correction of up to 40%, reaching a low of $4.60 (around Rp74,000) on May 1.
A price decline below an uptrend current signals a corrective phase. This correction ends as a 0.5 Fibonacci retracement, finding support and triggering a price rebound.
TON Price Today
Today, Tuesday, 21/05/2024, the price of TON is trading at the level of IDR 105,608 per coin. TON experienced a positive performance with an increase of 2.91% in the last 24 hours. Based on data monitoring from Bittime, TON recorded its daily low price at the level of Rp100,813 per coin, while the daily high price was at the level of Rp106,058.
Conclusion
The influx of large investments from venture capital companies has also strengthened Toncoin (TON)'s position as one of the major players in the crypto space. In addition, TON has attracted developers to create crypto projects on the TON network.
One of the most famous is Notcoin (NOT) which was recently listed on a major crypto exchange. This does not rule out the possibility of other crypto projects following the success of Notcoin developed on the TON network.
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How to Buy Toncoin (TON) on Bittime
You can buy and sell Toncoin (TON) in an easy and safe way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.
Toncoin (TON) is available on Bittime with a market pair of TON/IDR. To be able to buy TON IDR on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, then you can make a crypto asset purchase in the application.
Learn the complete guide on how to buy Toncoin (TON) on Bittime.
Monitor the price chart movements of Toncoin (TON), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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