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Information about Toncoin (TON)
Toncoin (TON) is a decentralized layer-1 blockchain developed in 2018 by messaging platform Telegram. The project was later abandoned, taken over by the TON Foundation, and renamed from “Telegram Open Network” to “The Open Network”.
Project developers want to build an ecosystem: decentralized hosting, decentralized services, domain name system (DNS equivalent), anonymous network, instant payment platform, and transaction processing Fast translation at a low price.
The Open Network (TON) is a fast, secure and scalable blockchain project capable of handling up to millions of transactions per second (TPS), at the same time, friendly to both users and service providers.
TON is a native token, designed to power the ecosystem. TON is used to:
Specifications
News
The price of Toncoin surged over 6% to 3.47 USD following Pavel Durov’s exit from France. This gain is a relief after the cryptocurrency faced a severe decline after his arrest in August 2024, leading to a loss of over 35%.
In recent times, Toncoin has rallied by approximately 18% in just 24 hours and 13% over the past week. Users on Telegram perceive Durov’s release as a favorable outcome for the ongoing discourse on freedom of speech.
TON trading volume is $13.58m. Market capitalization reaches $7.28b.
Toncoin is experiencing a significant downturn as 96% of its holders are currently at a loss. The price remains around 2.80 USD, facing resistance at 3.24 USD. Market sentiment appears bearish, raising concerns about a possible drop to the 2.50 USD support level.
On-chain metrics reveal a decline in trader activity, indicating weak confidence among investors. The MVRV ratio stands at -10.15%, reflecting prolonged losses for investors as they navigate a challenging market.
The outlook for Toncoin depends heavily on shifts in investor sentiment and market demand. Although bearish signals persist, technical indicators suggest that if buying interest increases, there could be short-term rebounds.
As of March 2025, 96% of Toncoin holders incur losses, with only 3% in profit. The cryptocurrency has dipped 22.53% recently, now trading at 2.9 USD.
Despite the prevailing losses, Toncoin whales are not selling. In fact, they have increased their holdings, reflecting confidence in the asset and a strategy to capitalize on the dip.
The overall market sentiment appears bearish, with heavy selling pressure. If sellers continue to act on their fears, Toncoin’s price could face further declines, potentially hitting lower levels.
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