Will the Toncoin rally restart in 2025 to enter the list of Top 10 crypto and cross the $10 psychological milestone?
With a market cap of $13.85 billion, Toncoin TON $5.40 24h volatility: 1.2% Market cap: $13.79 B Vol. 24h: $292.90 M is one of the top names in the cryptocurrency market. TON, or The Open Network, is a Layer-1 blockchain Developed by Telegram in 2017.
Toncoin has witnessed massive network and price growth in 2024. However, with the broader market correction and the struggle to regain bullish momentum after the arrest and release of Telegram’s CEO Pavel Durov, the Toncoin prices are waiting for the breakout rally.
Will the TON prices skyrocket in 2025 as the broader market recovers?
A recent tweet by IntoTheBlock, the blockchain analytics firm, highlights Toncoin’s success story in 2024. Due to the widespread adoption of mini-apps over Telegram, the daily active users of TON had exceeded 5 million by mid-year.
Currently, the total number of addresses on the network has crossed the 100 million mark and stands at 104.67 million. Meanwhile, the active addresses remain at 773.64K, with 198.72K new addresses added.
The zero-balance addresses remain at 27.69K. The short-term change in the daily active addresses remains negative, while a short-term surge in address activity in September created a peak of 3.8 million daily active addresses.
Adding to the success story, the addresses by time held over the past year have witnessed a parabolic rise. Starting from January 1, 2024, addresses with holdings of more than 1 year (HODLers) stood at 1.38 million. Addresses with 1 month to 12 months holdings stood at 1.74 million, while addresses with fewer than a month stood at 478.7K.
By the end of the year, the total addresses skyrocketed to 105.02 million, out of which HODLers with addresses holding TON for more than a year reached 2.9 million addresses. Cruisers currently account for 90.97 million addresses, while traders hold 11.16 million addresses.
The massive surge in HODLers and cruisers reflects the growing confidence of investors in Toncoin.
Currently, the total value locked over the Toncoin network stands at $646.78 million. This is a significant decline compared to the all-time high of TVL recorded at $1.145 billion on July 20, 2024.
Nevertheless, the stablecoin market cap over the network stands at $1.218 billion, with the 24-hour volume at $19.19 billion. The key numbers over the network are extremely positive and are recovering compared to the TVL dip to $554.5 million on September 4.
As the broader market recovers and the adoption over the Toncoin network picks up pace, the DeFi numbers of Toncoin are likely to improve in 2025. On a side note, the FDV of Toncoin stands at $27.857 billion.
Currently, Toncoin is trading at $5.4390 after a 15.82% drop last week. This marked the second consecutive bearish week for the Toncoin, following a 5.83% drop in the previous week.
Toncoin’s success story reveals its massive surge of 1,296% from its all-time low of $0.3906, recorded on September 20, 2021. However, the ongoing correction brings a discount of 33.78% from its all-time high of $8.24, recorded on June 15, 2024.
In the weekly chart, the ongoing reversal run started with an evening star pattern and is now testing the 50-week EMA line. Furthermore, the TON price action in the weekly chart reveals a rising wedge pattern and a local resistance line.
The reversal rally is testing the dynamic average line and is ready to challenge the 200 EMA line at the previous support level of $4.45. Nevertheless, the lower price rejection in the local candles reflects underlying support, increasing the short-term reversal chances.
Using trend-based Fibonacci levels, the bearish reversal from the 38.20% Fibonacci level near the $7.00 mark is gaining momentum. However, if the bulls successfully regain trend control, a breakout above the local resistance line could challenge the 61.80% Fibonacci level at $8.62.
On the flip side, the 200 EMA line at $4.27 remains crucial support, followed by $3.73.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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Vishal, a Bachelor of Science graduate, began his journey in the crypto space during the 2021 bull run and has since navigated the subsequent market winter. With a strong technical background, he is dedicated to delivering insightful articles rich in technical details, empowering readers to make well-informed decisions.
