Toncoin Reaches 104.67 Million Addresses with $13.85 Billion Market Cap
With a market cap of $13.85 billion, Toncoin (TON) is a prominent cryptocurrency. Developed by Telegram in 2017, TON is a Layer-1 blockchain.
Toncoin has experienced significant network and price growth in 2024. However, amid broader market corrections and the impact of Telegram CEO Pavel Durov's legal issues, Toncoin prices are currently poised for a potential breakout rally.
Future price movements depend on the overall market recovery in 2025.
Success Story of TON with Total Addresses Crossing 100M
A tweet from IntoTheBlock highlights Toncoin's trajectory in 2024, noting that daily active users exceeded 5 million due to the adoption of mini-apps within Telegram.
The total number of addresses on the network has surpassed 100 million, reaching 104.67 million. Active addresses total 773.64K, with 198.72K new addresses added recently.
Zero-balance addresses total 27.69K. Daily active addresses have shown a negative short-term change, although September saw a peak of 3.8 million daily active addresses.
HODLers Addresses Near 3M
Addresses holding Toncoin for over a year have increased significantly, rising from 1.38 million at the start of 2024 to 2.9 million by year-end. Addresses holding between 1 month and 12 months stand at 1.74 million, while those holding for less than a month total 478.7K.
The increase in HODLer addresses reflects growing investor confidence in Toncoin.
Toncoin TVL Down at $646M
The total value locked (TVL) in the Toncoin network is currently $646.78 million, a decrease from its all-time high of $1.145 billion recorded on July 20, 2024.
The stablecoin market cap on the network stands at $1.218 billion, with a 24-hour volume of $19.19 billion. These figures indicate recovery compared to a TVL dip to $554.5 million on September 4.
As the market stabilizes and adoption increases, Toncoin's DeFi metrics are expected to improve in 2025. The fully diluted valuation (FDV) of Toncoin is $27.857 billion.
Toncoin Price Ready for Bullish 2025?
Toncoin is currently trading at $5.4390, reflecting a 15.82% decline last week, marking the second consecutive bearish week following a 5.83% drop the previous week.
From its all-time low of $0.3906 on September 20, 2021, Toncoin has surged 1,296%. However, it is currently down 33.78% from its all-time high of $8.24 reached on June 15, 2024.
The weekly chart indicates a reversal run initiated by an evening star pattern, testing the 50-week EMA line. The price action shows a rising wedge pattern and local resistance line.
This reversal rally is also testing the dynamic average line and approaching the 200 EMA line at the previous support level of $4.45, indicating potential short-term reversal opportunities.
Bearish reversals from the 38.20% Fibonacci level near $7.00 are gaining traction. A successful bullish trend could lead to a breakout above the local resistance line, targeting the 61.80% Fibonacci level at $8.62. Conversely, critical support levels lie at the 200 EMA line at $4.27 and $3.73.