- Toncoin (TON) experienced a price of $81.4053 last week, and currently, while writing this article, it stands at $1.3922.
- Toncoin’s Multi-Level Structure: Sharding for Enhanced Blockchain.
- The Open Network: A Community-Driven Blockchain Catering to Everyday Consumers
Current Toncoin Price
Toncoin’s current price is $1.3922062 per TON/USD, with a market capitalization of $4.78 billion. The 24-hour trading volume amounts to $7.75 million. The TON to USD price is continuously updated in real time. Over the past 24 hours, Toncoin has experienced a decrease of 3.18%, while its circulating supply is approximately 3.43 billion.
Factors Influencing TON’s Future
StructureÂ
Toncoin’s multi-level structure, based on sharding or segmentation, enhances its efficiency and scalability. Using multiple subnets (shards) within the blockchain allows for specific tasks and prevents the accumulation of unverified blocks.
Network
The TON network’s focus on scalability, efficiency, and mass adoption results in ultra-fast transactions and the ability to process massive transactions per second (TPS). Toncoin offers services within the TON network, including TON Wallets that facilitate fund transfers and interaction with platform services, providing custodial and non-custodial wallet options.
Market DemandÂ
The overall demand for Toncoin in the cryptocurrency market can significantly impact its price. High demand from investors and users can drive the price up, while low demand may result in a price decrease.
Market Sentiment
The sentiment and perception of investors and the general public towards Toncoin can influence its price. Joyous news, developments, or partnerships related to Toncoin can boost investor confidence and increase its cost, while adverse events or sentiments may lead to a decline in price.
Adoption and Use Cases
The level of adoption and real-world use cases for Toncoin can play a role in its price movement. Increased adoption by businesses and individuals and the interior grating of Toncoin into various platforms and applications can positively impact its value.
Technological Developments
Advancements and improvements in the underlying technology of Toncoin, such as upgrades to its multi-level structure, scalability, and transaction speed, can attract investors and positively affect its price.
Technical Analysis on a TON
EMA (Exponential Moving Average)
On the 1-day time frame, Toncoin is currently exhibiting a bearish trend. The 50-day moving average is sloping downwards and positioned below the current Toncoin price, potentially serving as a support level in future interactions. The 200-day moving average currently resides above the price, suggesting it could act as a resistance level if the price interacts with it again. Considering the bearish nature of the 50-day moving average and the strong upward trend of the 200-day moving average, it is likely that the bearish trend may continue for Solana in the 1-day time frame.
RSI (Relative Strength Index)
RSI while writing this article stands at 39.55, which is within the 30-70 range, signifying a neutral trend where the price can sustain this state for some time.
MACD (Moving Average Convergence/Divergence)
On the histogram side, there is neither a bearish nor bullish divergence, which could also mean the price will reverse.
Price Prediction For August 2023Â
TON’s long-term Price Prediction is a look at TON’s with regards to price. While writing this article, TON currently stands at $1.3922062, with a market cap of $4.78B and trading volumes of $ 1.75M.
Its Technical levels for August 2023 can be as follow
Resistance Levels –Â Around $1.4121 to $2.0453
Support Levels – Â Â Â Around $1.0594 to $0.9743
Average Level –Â Â Â Â Around $1.23575
Disclaimer
The views and opinions expressed in this article are provided for informational purposes only. They should not be construed as financial or investment advice. Investing in or trading crypto assets carries a risk of financial loss.
