Toncoin: 200% Yearly Gains has TON Targeting $9 in 2024

Joshua Ramos
Source: Twitter

One of the most impressive surges of the year thus far has been Toncoin (TON) which has increased more than 200% over the year. Moreover, that development is not expected to slow down experts, with the Telegram integrated token likely to continue benefiting from the messaging app expansion.

The Total Value Locked (TVL) for TON has increased to more than $218 million. Therefore, the overall adoption and prevalence of The Open Networks dApps are evident. That increase, however, could be a critical observatory facet of TON’s continued ascension beyond its current standing.

Source: Bitcoinist

Also Read: Toncoin (TON) Predicted to Hit New All-Time High: Here’s When

TON Targeting $9 Amid Ongoing Surge This Year

Over the last year, the digital asset sector has seen a plethora of narratives emerge. From the consistent Spot ETF discussions to Bitcoins surge to an all-time high to the prevalence of meme coins within the overall industry. However, one facet that has seemingly been overlooked is the emergence of Toncoin.

The cryptocurrency is connected to the Telegram messaging app TON Network. Indeed, Toncoin (TON) has observed more than 200% gains over the past year and could be looking for more. Indeed, it is projected to ascend to the $9 mark within the next year.

Also Read: Toncoin (TON) Rallies Over 17% as Market Bounces Back

The asset is currently trading at more than $6.36, according to CoinMarketCap. Moreover, although it has decreased more than 2% over the last 24 hours, its $22 billion market cap has it firmly entrenched in the top 8. Additionally, Santiment noted the rapid growth rate that Toncoin has enjoyed.

Earlier this month, Santimetn noted that the asset had seen its active addresses surge by more than 110% over the last six months. Furthermore, the launch of Telegram’s Notcoin (NOT) could increase the adoption of TON. Specifically, because of the effect it should have on the asset’s exposure and adoption.

TON will confront vital resistance levels at $6.52 and $7.23, with supports present at $6.00 and $5.56. Moreover, a 56 Relative Strength Index (RSI) shows there is potential for upward momentum. An immensely bullish perspective could see Toncoin surpass $7.23 to challenge for the $8 mark. Thereafter, it could be well on its way to surpassing that all-time high, and embarking on a new milestone at $9.