Toncoin Surpasses Ethereum’s User Base, Targets $10 Mark in Bullish Run

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In what is being hailed as one of the most stellar performances in recent cryptocurrency cycles, Toncoin (TON) managed to breach its all-time high (ATH) twice in a single day, accomplishing this extraordinary feat this past Friday. This singularly impressive act has led to the native token of The Open Network outstripping Ethereum’s active users during the week, sending a buzz through the market. Analysts keenly watching these occurrences interpret them as precursors to a further climb, potentially toward the coveted $10 mark.

Recently, the cryptocurrency expert, Ali Martinez, had brought attention to Toncoin teetering on the edge of a remarkable breakout. In his market analyses, Martinez pointed out an ascending triangular pattern discernible on TON’s chart. This pattern led him to conjecture a preparation for what could be a whopping 40% breakout that could push the token above the $10 threshold.

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On the Thursday evening preceding the twin peaks, the token was able to test the watery water of the $7.7 resistance level and come out on top, soaring past its former all-time high of $7.76. Showing no signs of losing steam, TON sustained its upward momentum in the immediate hours following this spike, momentarily brushing past the $8 resistance level.

However, after hitting this new ATH, Toncoin showed slight signs of easing by falling slightly below the $8 mark. For some time, TON oscillated within the $7.8 and $7.9 range before regaining momentum and marking a second milestone within a compresses 24-hour timeframe.

This Friday proved to be another landmark day for the ambitious token that operates in Telegram’s ecosystem. Charting an impressive 5% rise, TON peaked at its new ATH – a square $8.15. Eclipsing the previous day’s peak, this upward surge translated to a 9% rise in just one day. On a broader canvas, this means a promising 7.7% and 17.6% rise for TON over the last week and month, respectively.

TIhe cryptocurrency community has been buzzing over Toncoin’s rally. GeckoTerminal shared an overview of the top 10 cryptocurrencies, and among these, TON stood as the only high-performing token, strong in the face of recent fluctuations in market trends.

Crypto analysts are taken by TON’s bullish run, with many asserting an optimistic outlook for the token’s potential double-digit target in the summer. Other notable analysts in the sphere, Martinez and Daan Crypto, see the token continuing to break ceilings above the $10 spectrum.

Catching the eye of Altcoin Sherpa, a known voice among the crypto community, TON has been referred to as part of the “strongest charts in crypto.” The analyst previously commented that TON breaking new ground was just a matter of when, not if.

The crypto community is abuzz with the thought that Toncoin could potentially follow in the footsteps of Solana for exotic gains. Crypto trader ImNotTheWolf is one such supporter of this thought, conjecturably stating “TON will become the new SOL, in terms of gains potential.”

Another noted market observer, WiseAnalyse, praised TON’s strength even amidst an ever-volatile market. The reason for this resilience: its real-world use and wide-scale adoption. NewsBTC reported that the token surpassed Ethereum in daily active addresses, attributing this feat to the integration of Toncoin with Telegram’s user base of 900 million.

Analysts at Unchained believe The Open Network blockchain could be the next Solana, taking up the challenge of the historical smart contract leader, Ethereum. Despite lagging behind Solana, TON’s daily active addresses have consistently been higher than Ethereum’s figures throughout June. This fuels the belief that TON could narrow the market cap gap with Solana.

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Melinda Cochrane is a poet, teacher and fiction author. She is also the editor and publisher of The Inspired Heart, a collection of international writers. Melinda also runs a publishing company, Melinda Cochrane International books for aspiring writers, based out Montreal, Quebec. Her publication credits include: The art of poetic inquiry, (Backalong Books), a novella, Desperate Freedom, (Brian Wrixon Books Canada), and 2 collections of poetry; The Man Who Stole Father’s Boat, (Backalong Books), and She’s an Island Poet, Desperate Freedom was on the bestseller's list for one week, and The Man Who Stole Father’s Boat is one of hope and encouragement for all those living in the social welfare system. She’s been published in online magazines such as, (regular writer for) ‘Life as a Human’, and Shannon Grissom’s magazine.