Binance, the world’s largest cryptocurrency trading platform, launched Toncoin (TON) on the Binance Launchpool today. The move when first announced singled incoming momentum for TON, and the asset is expected to benefit from the latest listing. At press time, The Open Network’s token is trading at $6.55, a rough 6% drop in 24 hours. However, there are still hopefuls predicting the asset to jump in price over the coming week.
Currently, price predictions for Toncoin (TON) are bullish, with investors swooping in on the latest Binance listing. TON debuted on Binance with Bitcoin, USDT, FDUSD, and TRY trading pairs. The recent climb for the asset has set a realistic target of recovering to $7 this weekend.
The Binance exchange also announced TON futures trading earlier this year. Specifically, it arrived in early March, as the year has been a massive one for The Open Network. Throughout 2024 thus far, Toncoin has already surged a remarkable 170%. Yet, many experts predict even more gains for the crypto.
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Can Toncoin (TON) Hit $7 Again This Weekend?
Toncoin failed to reach the $8 range this past week as previous predictions thought it would. The token has slowed in growth over the last 48 hours, likely reaching a tough resistance level. TON briefly surpassed $7 on Wednesday but has since tumbled back down to $6.50.
The drop may be due to hitting the resistance level of $7 and a drop in trading volume. TV for TON is down 35.36% in 24 hours, and its market cap has also sunk 7%. Despite bullish potential following the listing, Toncoin is underperforming and may take some time to set $7 as a new standard. Furthermore, $8 is also likely out of reach for the time being, but may remain a potential level to hit at the end of August.
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It’s crucial to research the TON coin further before making such an investment. Data around a coin rarely remains static, and it’s important to note that before purchasing. While bulls could drive TON upwards over the weekend, there’s always a chance of bears doing the opposite. Keep an eye on the TON network’s socials for more updates around the token that could create bullish hype.