Toncoin price has encountered notable obstacles recently, but optimism is on the rise among investors and traders due to recent advancements, such as the introduction of the T-Fund. This fund aims to boost the growth of the TON ecosystem by backing new projects and increasing network adoption. With signs of Toncoin’s recovery emerging, there is speculation that these developments could lead to an 80% surge in price, potentially setting the stage for a significant value upswing.
Amidst challenges linked to Telegram Founder Pavel Durov, Toncoin price witnessed a setback before finding support and rebounding, possibly influenced by the establishment of the TON T-Fund. This fresh venture seeks to rejuvenate and expedite the Ton ecosystem’s growth, coinciding with positive market sentiment driven by predictions of a potential Fed rate cut that could benefit the broader crypto market.
The TON blockchain has experienced notable expansion within a short period, resulting from extensive prior development endeavors. However, recent launches like Notcoin (NOT) and Dogs (DOGS) have strained the network with active users, underscoring the necessity for enhanced scalability measures.
Notably, the T-Fund was set up to expedite Ton blockchain development by investing in and supporting new projects within the ecosystem. As decentralized protocols continue to emerge on the TON blockchain, heightened network utilization is expected to positively impact Toncoin price, which has seen a 1.3% increase in the last 24 hours and is currently trading at $5.36.
While showing indications of a rounded top pattern, implying a potential long-term bearish reversal, Toncoin price recently rebounded from the critical $4.50 support level and is making efforts towards recovery. The price remains below key moving averages, indicating a prevailing bearish trend.
There are anticipated fluctuations ahead based on technical analysis, with possibilities for significant price movements if certain key levels are breached. The Toncoin user base is expanding, as evidenced by record high Ton addresses count and active users surpassing figures seen on major platforms like Ethereum. Traders are optimistic about the Toncoin price, with more Long trades compared to Shorts observed, pointing to potential support levels if the price undergoes a correction.