In a recent analysis by Flow, a crypto analyst at SwissBorg, the surge in the altcoin value of Toncoin (TON) was examined amidst a broader market decline. Flow highlighted key observations, such as the Total Value Locked (TVL) on the Ton Blockchain hitting all-time highs and record-breaking daily active addresses. This surge is also reflected in token transaction volume and holder numbers, indicating a strong upward trajectory.
Flow pointed out that TON is currently in a long-term uptrend and has recently broken out of a bullish consolidation phase. Additionally, TON is demonstrating robust relative strength compared to BTC, according to the analyst.
In terms of performance, Flow acknowledged the challenges TON has overcome, both technically and regulatory, to reach its current position. The analyst noted a growing interest from users, developers, and institutional investors in the TON chain and ecosystem.
One noteworthy advantage highlighted by Flow is TON’s potential to tap into Telegram’s vast user base of 900 million users, providing a significant opportunity for ecosystem growth. Despite promising applications within the ecosystem, Flow cautioned that these are still in the development stage and stressed the importance of Tether integration.
It is essential to note that the views expressed in this analysis are not intended as investment advice.
