Peter Smith
Toncoin (TON) has surpassed Ethereum in daily active users, fueling predictions of a potential surge to a $10 price target despite a recent price dip.
Toncoin Flips Ethereum in Daily Active Users
Toncoin (TON), the native token of The Open Network, has captured significant attention by surpassing Ethereum (ETH) in daily active users. Despite a 12% price drop from its recent all-time high of $7.76 due to a broader market correction led by Bitcoin (BTC), TON’s strong user activity has spurred optimism among analysts.
Crypto analysis firm Delphi Digital has highlighted the remarkable rise in TON’s daily active addresses, which have now exceeded those of Ethereum. This increase is largely credited to Telegram's substantial 900 million user base, as TON leverages the social media platform's distribution capabilities. Renowned crypto and DeFi analyst “Crypto King” has encouraged new investors to explore TON, emphasizing its fast and user-friendly blockchain infrastructure and the credibility of its development team, which also created Telegram. He predicts that TON could reach $10 in the coming weeks.
Expert Predictions on Toncoin's Bullish Potential
Market expert Alex Clay supports this optimistic outlook, noting that despite the recent market downturn, TON maintains a bullish structure. He forecasts that TON could hit $10, with short-term targets of $10.5 and $11.6, supported by the presence of a Daily Cup & Handle pattern. This technical indicator further reinforces the potential for significant price gains.
Token Terminal data shows that while TON’s price has dipped, key metrics suggest long-term bullishness. Over the past 30 days, TON’s fully diluted market cap increased by 3.6%, though trading volume decreased by 11.6%. However, the number of token holders surged by 76.3%. Additionally, revenue and fees have both seen 26.0% increases in the same period.
Skyrocketing User Base on TON’s Network
Perhaps most impressive is the 245.1% increase in the active user base on TON’s network, with approximately 5.42 million monthly active users. This surge in user activity underscores the growing adoption and potential for further price appreciation of Toncoin.
In conclusion, as Toncoin continues to navigate market fluctuations, its recent milestone of surpassing Ethereum in daily active users and the positive outlook from analysts signal a promising future. With strong network metrics and growing user adoption, TON is well-positioned for potential price targets of $10 and beyond.
Peter Smith
