TronWeekly

Crypto World News

You are here: Home / Archives for Toncoin (TON)

Toncoin (TON)

Toncoin Holds Strong Amid Market-Wide Pullback, Eyes Breakout Above $3

by

  • Toncoin is holding above the $2.85 support despite the broader crypto market dip
  • Trading volume has increased by 10%, signaling growing interest during consolidation
  • A breakout above the $3 resistance could trigger a fresh rally toward higher targets
  • Failure to hold current support may lead to a deeper correction toward $1.20–$1.50

Despite a recent dip across the crypto market, Toncoin (TON) is showing resilience as it consolidates near a key support level, hinting at a potential bullish reversal. TON is navigating a turbulent market as Bitcoin’s recent slip below its support level triggered a broader altcoin sell-off. While many tokens have continued to bleed, TON is showing notable strength, holding firm above the crucial $2.85 support zone.

At the time of writing, TON is trading at $2.85, reflecting a 3% decline in the last 24 hours. However, the trading volume has surged by 10%, reaching $172.64 million, while its market capitalization stands at $7.14 billion, according to data from CoinMarketCap.

TON 1D graph coinmarketcap 1
Toncoin Holds Strong Amid Market-Wide Pullback, Eyes Breakout Above $3 4

This price consolidation comes as Toncoin continues to trade sideways just below the psychological barrier of $3. Market watchers are closely eyeing this level, as a decisive breakout above it could pave the way for a fresh rally.

Toncoin Long-Term Potential Remains Intact

Despite short-term weakness, Toncoin’s long-term structure remains bullish. Market commentators are optimistic about TON’s trajectory, citing increasing adoption of the TON ecosystem and the network’s ability to maintain price support amid market pressure.

One prominent voice in the community has projected a strong upside for Toncoin, forecasting a potential surge between 100% and 140% from current levels. According to this outlook, TON could target levels at $4.30, $5.60, and even as high as $7.20 over the coming months. These targets are based on a blend of technical resilience and the growing utility of the Toncoin network.

image 152 3
Toncoin Holds Strong Amid Market-Wide Pullback, Eyes Breakout Above $3 5

Critical Support Level in Focus

However, not all sentiment is entirely bullish. Another well-followed commentator warned that TON is currently at a make-or-break point. Drawing comparisons to previous warnings issued when TON was trading at $6–$7, they stressed the importance of maintaining the current support. If the $2.85 zone fails to hold, the token could see a steep decline, possibly revisiting levels between $1.20 and $1.50.

image 152 4
Toncoin Holds Strong Amid Market-Wide Pullback, Eyes Breakout Above $3 6

As the market awaits Bitcoin’s next move, Toncoin traders are watching closely for a confirmed breakout above $3, a move that could validate the bullish thesis and trigger renewed momentum. Until then, the $2.85 support remains the critical line in the sand.

With rising volume, strong support levels, and active community engagement, Toncoin remains one of the few altcoins showing resilience in a shaky market. The coming days will be crucial in determining whether TON breaks higher or falls victim to the broader downtrend.

Related Reading | Inside Solana’s Viral Reward System: Earn SOL Every 5 Minutes?

TON Foundation Secures $400 Million Investment from Leading Venture Capital Firms

by

  • TON Foundation secures $400M in Toncoin from major VCs to expand Telegram’s blockchain.
  • Telegram’s TON blockchain sees 41M active users and 121M unique Toncoin holders.
  • Venture capital interest grows as Telegram’s user base nears 1.5 billion by 2030.

The Open Network Foundation also known as TON Foundation obtained more than $400 million through funding from multiple high-profile venture capital companies. The funding directed to Toncoin as the native cryptocurrency of the TON blockchain demonstrates increased interest from investors in the Telegram ecosystem.

Sequoia, Ribbit Capital, Benchmark, Draper Associates and Kingsway compose the list of investors participating in this funding round. Other participants in the round include Vy Capital, Libertus Capital, CoinFund, SkyBridge, Hypersphere and Karatage.

Strategic Investments for Expanding the TON Ecosystem

The investments have been made in Toncoin rather than traditional cash or equity, reflecting a strong belief in the blockchain’s potential. The TON Foundation views these contributions as strategic partnerships that will help propel the TON ecosystem forward. Although specific details about the partnerships have not been disclosed, the foundation is optimistic about their future impact.

As Telegram grows, the TON blockchain supports a wide range of “Mini Apps” operating within the messaging platform. The creators of Telegram initially established TON but it now exists independently as a blockchain platform. The decentralization of Toncoin enhances its status as the main cryptocurrency for Telegram application functions in the broader ecosystems

Toncoin’s Growing Popularity and Telegram’s Expanding User Base

The TON blockchain has witnessed significant growth in the past year. The number of active users of the company increased from 4 million to 41 million monthly, while the Toncoin cryptocurrency has more than 121 million unique holders.  With millions of users, the TON Foundation plans to develop the blockchain further and attract 30% of the current Telegram active users within the next three years.

Benchmark partner Peter Fenton predicts Telegram will surpass 1.5 billion monthly active users by 2030, as it recently crossed the 1 billion threshold. This projected growth and rising Toncoin adoption patterns indicate that this blockchain system will establish dominance in the cryptocurrency industry. The integration of cryptocurrency on the Telegram platform offers an appealing solution which attracts developers and their users.

image 150
Source; X

The interest in Toncoin and the TON blockchain highlights a larger trend in the venture capital industry’s acceptance of blockchain and crypto projects. According to Simon Wu, a partner at Cathay Innovation, these projects are being recognized as viable solutions, especially in sectors such as asset management, transactions, and tokenization.

Blockchain project venture capital investment established a new high in February, surpassing $1.1 billion in crypto venture capital deals. The TON Foundation generated funding success as a part of an overall market shift demonstrating institutional investors’ growing interest in decentralized blockchain ecosystems like TON.

Toncoin’s 2025 Masterplan Signals Investors’ Goldmine

by

Toncoin’s price is currently consolidating within a massive triangle pattern. This coincides with TON Core’s unveiling of an ambitious roadmap for 2025, that includes significant advancements like the Accelerator upgrade and Layer2 payment network. Meanwhile, Telegram enforces exclusive reliance on the TON Blockchain for all crypto-related MiniApps. These developments have spurred speculation of a potential TON rally.

Technical analysis of the 1-day chart reveals that Toncoin is exhibiting a bullish setup. The token is consolidating within a massive triangle pattern for over 10 months. Analysts predict a potential breakout could see prices rallying toward the $10-$15 range, mirroring previous price movements. Speculation around these developments is driving community excitement, with Telegram’s enforcement of TON likely to play a pivotal role in future price action.

Toncoin
Toncoin's 2025 Masterplan Signals Investors' Goldmine 9

TON Core’s recently revealed a roadmap outlining key milestones that could transform the blockchain’s ecosystem in the first half of 2025. This features upgrades such as the Accelerator mainnet upgrade, a Layer2 payment network, and TOLK 1.0. The latter is a revamped programming language boasting advanced features like pattern matching and smart contract interfaces.

The roadmap also includes other initiatives including enhancing validator tools, launching an improved Toncenter API, and forging collaborations with platforms like DeDust and MyTonWallet. Additionally, TON Core plans to release a UX guide and support new innovations like TON BTC Teleport.

Telegram’s Mandate Demands Toncoin’s Exclusivity

Adding to the momentum, Telegram announced that all crypto-related MiniApps must transition to the TON Blockchain by February 21, 2025. Developers must cease referencing non-TON platforms, while apps distributing blockchain assets must align with the Toncoin immediately. This exclusivity policy reflects Telegram’s deepening commitment to The Open Network .

These initiatives could signal a new era for TON, positioning it as a leading blockchain for developers and users alike.

For investors, the token presents a compelling opportunity with its strong token distribution. With minimal new tokens entering the market until late 2025, the supply will remain stable at 2.66 billion. The next major unlocks are in October 2025 and February 2027, making Toncoin a solid play for this cycle’s end.

Toncoin (TON) Eyes $11.11 Target Amid Strong Market Recovery

by

  • Toncoin (TON) targets $11.11 after breaking a bearish trendline in November 2024.
  • Strong long-term support since April 2024 reinforces its bullish momentum.
  • Ranked in the top 15, Toncoin aligns with 2025’s optimistic crypto market trends.
  • Higher lows and market-wide recovery signal sustained growth potential for Toncoin.

Toncoin (TON), a top-15 cryptocurrency, has captured investor attention with its bullish momentum since November 2024. Backed by solid technical indicators and a recovering market, TON is now positioning itself for significant growth, with an $11.11 target on the horizon.

Currently, TON is priced at $5.35, reflecting a 1.78% increase in the last 24 hours. Over the past year, TON has seen a significant rise of nearly 137%. However, on the weekly chart, TON has experienced a 7.43% decline due to challenging market conditions. Despite this, its long-term price trajectory remains strong.

TON 7D graph coinmarketcap
Toncoin (TON) Eyes $11.11 Target Amid Strong Market Recovery 12

Long-Term Support Anchors Toncoin’s Growth

Toncoin’s upward trajectory began in April 2024 when its long-term support line was tested multiple times and held steady. This critical support level has since proven instrumental in building investor confidence.

In November 2024, TON broke through a bearish descending trendline, marking the start of its bullish phase. Although the initial breakout faced a correction, the token established a higher low, a clear signal of sustained bullish price dynamics. This pattern of higher highs and solid support has set the stage for TON’s ambitious growth targets.

2025: A Bullish Year for Cryptocurrencies

The broader cryptocurrency market has entered 2025 with renewed vigor, leaving behind the bearish trends of 2022-2024. Toncoin’s performance reflects this market-wide shift, as many cryptocurrencies are breaking out, consolidating, or preparing for growth.

TON’s position among the top 15 cryptocurrencies underscores its prominence. Analysts expect it to climb higher in rankings as market confidence surges. With a $11.11 target considered conservative, the potential for long-term growth appears robust, fueled by favorable market cycles and technical signals.

image 29 2

Why Toncoin is a Long-Term Bet

Investors eyeing TON should consider its track record of resilience and growth potential. The combination of strong support levels, market-wide bullishness, and technical indicators points to significant upside opportunities.

Toncoin’s strategy aligns with the market’s broader sentiment: think long-term. By adopting a buy-and-hold approach, investors can potentially reap the rewards as TON continues its upward trajectory.

TON stands out as a leading cryptocurrency ready to capitalize on the bullish market trends of 2025. Its consistent performance and optimistic outlook make it a compelling choice for investors seeking long-term gains. With a strong foundation and a growing market presence, TON’s journey toward its $11.11 target is one to watch closely.

Related Reading | Bitcoin Risk Peaks as Analyst Warns of Caution Amid Profit-Taking 

Toncoin (TON) Tumbles Down 4.2%, Promising 382% Surge by 2025

by

  • Toncoin (TON) is down 4.2% over the past 24 hours but remains up 171% year-over-year.
  • Analysts predict TON to hit $28 by January 2025, a 382% surge, with $20 likely after May.
  • TON’s connection to Telegram is a key driver of its long-term potential despite short-term hurdles.

The cryptocurrency sector has been ablaze with activity, yet Toncoin (TON) seems to have hit a pause on its meteoric rise. Despite this lull, predictions for TON’s future remain bullish. Analysts are forecasting the token to surge to $20 by 2025. The real question is: when will this breakthrough occur?

Toncoin is the native cryptocurrency of The Open Network (TON), developed by Telegram. Earlier this year, the token experienced rapid growth, fueled by its association with the messaging giant. However, recent weeks have been less kind. TON is down 4.2% in the last 24 hours, trading below its critical $6.1 support, according to CoinMarketCap.

Yet, TON’s performance over the past year tells a different story. The cryptocurrency has soared by an impressive 171% year-over-year, demonstrating its resilience and market potential.

Toncoin’s Bold Projections for 2025

According to CoinCodex, TON could exceed its previous all-time high of $8 as early as next year. Analysts project an even more dramatic surge, forecasting a record price of $28 by January 2025. This would represent a staggering 382% increase from current levels. However, they caution that this peak might be short-lived, predicting a retracement after May 2025.

The broader cryptocurrency market, led by Bitcoin’s historic climb to six figures, has buoyed many altcoins. Yet TON has not fully ridden this wave. Its recent decline raises concerns among traders about the timing of its projected rally.

Still, Toncoin’s strong fundamentals and Telegram’s backing offer a compelling case for long-term growth. As the sector continues its upward momentum, TON’s performance will be closely watched by investors seeking the next breakout star.

Toncoin Holders Grapple with Shocking Profitability Decline to 65%

by

Key Takeaways

  • Toncoin wallets in profit fell sharply to 65%, down from 90% a week ago, reflecting heightened market volatility.
  • 85% of Toncoin holders acquired the asset within the past year, highlighting a short-term investment trend.
  • Toncoin faces critical support at $6.50 after retracing recent gains, with further consolidation likely.

Toncoin (TON) holders have seen a dramatic shift in profitability as the volatile cryptocurrency market impacts wallet returns. IntoTheBlock data indicates that only 65% of wallets holding TON are currently in profit, down from 90% a week ago.

Also, 25% of wallets are now in loss, and another 11% are at breakeven, signaling changing market sentiment. All this turmoil is amidst the notable trading activity of TON. More than $51.97 billion worth of transactions above $100K were made in the last week, showing high-value active trades.

Dominance of Short-Term Holders

A deeper dive into wallet ownership suggests that 85% of the holders of Toncoin have held the asset for less than a year, while 12% acquired it in the last month alone. That demonstrates a speculative bias among participants. Only 3% of wallets have held Toncoin for more than one year-a hint at the lack of long-term conviction among holders.

Geographically, 61% of the Toncoin transactions occur in western trading hours, the rest in Eastern markets. These dynamics suggest a regional preference for trading, which could help determine price movements.

Toncoin Critical Levels as 2025 Approaches

The recent performance of TON flipped the $6.50 resistance into support during its November rally, in which it surged 50%. December started on a bullish note as it delivered 14% gains in the first week. However, a pullback has erased those advances, and TON now trades near $5.93, down 9% on the day.

Technically, TON needs to break above $7.20 for a bullish continuity, with the $7.50 level acting as a prop toward the $8.24 all-time high. Failure on upside may ensure below $5.45 will create room for declines toward $5.28.

TONUSD 2024 12 10 01 22 12
Source: Tradingview

Technical indicators are mixed. points to possible downward pressure. The 14-day RSI of 55 shows waning bullish momentum. As the beginning of 2025 draws near, traders remain watchful around these levels, looking for signs of which way the price action of Toncoin may eventually go.

Related Reading | Litecoin and Its Technological Impact

Analysts Predict Toncoin Surge to $9 Following Technical Breakout and Regulatory Boost

by

Toncoin (TON) has shown excellent resistance to the latest market drawdown, breaking all the bearish trends and rising as high as almost 16% in the last 30 days. This has taken TON to the forefront of the cryptocurrency markets, capturing substantial attention among analysts and investors alike.

In the past week, TON has moved up almost 6%, thus proving to be quite firm with massive potential for further growth. A move supporting this upbeat momentum, which is taking place within a general market environment where hardly any cryptocurrencies can hold their value, is of prime importance here.

As soon as Ethereum ETFs hit the markets, they will infuse a bullish wave across the altcoin market, including TON. Analysts stipulate that this might just be the momentum diaper TON needs to further ride on an upward trajectory. Their attention turned out to be well grounded since interest in Toncoin was beginning to get vicinity by market players based on its current movements and potential for further gains.

At the time of writing, Toncoin is trading at $7.53, with a 24-hour trading volume of $357.22 million and a market capitalization of $26.18 billion. Despite a slight decrease of 2.13% in the last 24 hours, the overall trend remains positive.

TON 1M graph coinmarketcap 1
Analysts Predict Toncoin Surge to $9 Following Technical Breakout and Regulatory Boost 17

Analyst predicts Toncoin to hit $9

Crypto analyst Ali Martinez has highlighted a bullish outlook for Toncoin, predicting a potential 12% rise towards $9 after the cryptocurrency broke out of an ascending triangle pattern. This technical analysis indicates a strong upward momentum for TON, suggesting that the recent surge is likely to continue.

image 69 4

Supporting this bullish sentiment is the significant increase in TON’s open interest data. From June 20 to June 27, open interest rose from $255.28 million to $305.16 million, marking a 19.5% increase. This rise indicates an influx of new capital and heightened buying activity, further reinforcing the positive outlook for Toncoin.

image 70

Toncoin Regulatory approval in Kazakhstan

Adding to the optimism around Toncoin, Kazakhstan’s Financial Services and Regulatory Committee (AFSA) has approved the cryptocurrency for trading on regulated exchanges. Following a comprehensive audit, Toncoin met the stringent listing criteria set by the financial regulator. This approval not only boosts TON’s credibility but also enhances its accessibility to investors.

This approval not only boosts TON’s credibility but also enhances its accessibility to investors.
Moreover, this regulatory nod sees Toncoin join the elite list of 107 cryptocurrencies that are government-approved in Kazakhstan, indicating its wider acceptance and eventual mainstreaming.

With outperforming shows in a bearish market, coupled with positive indicators and regulatory nods, the future does look very promising for Toncoin. While the impact of Ethereum ETFs is going to set in within the market, Toncoin is already prepared to ride that bullish wave. Many analysts and investors are now eyeing its northward journey.

Related Reading | Render (RNDR) Poised for a Breakout: Analyst Eyes New All-Time High 

Toncoin (TON) Skyrockets to $8.2 All-Time High, Eyes $10.50 Target Amidst Bullish Signals

by

Toncoin (TON) has rece­ntly attracted attention in the crypto marke­t due to its dramatic price moveme­nts. After reaching an all-time high of $8.2, TON curre­ntly trades at $7.62 as of June 23, 2024. This marks a significant 6.4% increase­ in the last 24 hours, bringing its market cap to $18.97 billion, a 7.29% rise ove­r the same period.

Crypto analyst Ali has provide­d insights into TON’s potential future moveme­nts using the TD Sequential indicator, known for ide­ntifying trend exhaustion points. Ali has identifie­d a sell signal on the four-hour chart, marked by a gre­en “9” candlestick. This signal suggests that the­ recent uptrend might face­ a short-term correction, possibly lasting betwe­en one to four candlesticks.

The­ chart reveals critical Fibonacci retrace­ment levels that trade­rs should watch during this potential correction. Toncoin is currently around the­ 1.0 Fibonacci level at $7.65, a critical resistance­. If the price retrace­s, it might find support at the 0.786 level ($7.44), the­ 0.618 level ($7.29), and potentially lowe­r at the 0.5 level ($7.18).

image 58 2
Toncoin (TON) Skyrockets to $8.2 All-Time High, Eyes $10.50 Target Amidst Bullish Signals 20

Bullish Long-Term Outlook for Toncoin

Following Ali’s short-term outlook, crypto analyst Ale­x Clay provides a more comprehe­nsive, long-term bullish perspe­ctive for Toncoin. Clay points out the Cup and Handle patte­rn on the chart. This well-known bullish continuation pattern indicate­s a strong potential for further upward moveme­nt, signaling the end of a consolidation phase and the­ resumption of an upward trend.

The chart also shows a significant bre­akthrough of the Supply Zone, a critical resistance­ area that TON has recently surpasse­d. This zone is now expecte­d to serve as a support leve­l, indicating consolidation and preparation for the next upward move­. The price has respe­cted major Fibonacci levels, re­flecting strong underlying support and resistance­ areas.

Clay projects potential targe­t levels for TON, with the first targe­t at $10.50 and a more ambitious target at $11.60. These­ targets are derive­d from the measured move­ment of the Cup and Handle patte­rn, suggesting significant upside potential. The­ consolidation phase above the broke­n supply zone is considered a he­althy correction, providing a solid foundation for further gains.

image 57
Toncoin (TON) Skyrockets to $8.2 All-Time High, Eyes $10.50 Target Amidst Bullish Signals 21

Analyzing the one­-day chart for TON/USDT, TON faces resistance around $7.65, a le­vel tested multiple­ times. Surpassing this resistance could prope­l the price to the ne­xt significant level at $8.28. The 100-day Expone­ntial Moving Average (EMA) at $6.01 supports the bullish tre­nd, acting as dynamic support if the price retrace­s.

Immediate support for TON is around $6.78, a historically strong leve­l. If the price does not maintain this le­vel, the next significant support is locate­d at $6.28. The Relative Stre­ngth Index (RSI) at 57.86 indicates buying pressure­, with room for further upward movement be­fore becoming overbought.

Related Readings | Toncoin (TON) Poised for Breakout: Whale Activity Surges, Analyst Eyes $10-$13 Target

TON-Hashkey Alliance Expands Cryptocurrency Access Globally Amid Market Surge

by

TON Foundation, the driving force behind the innovative Telegram Open Network (TON) blockchain, has forged a strategic partnership with HashKey Group, a leading digital asset financial services firm based in Hong Kong. This collaboration aims to enhance accessibility to fiat on- and off-ramps for users of the Telegram wallet, while also fostering support for early-stage projects within the foundation.

Livio Weng, the Chief Operating Officer of HashKey Group, expressed the shared vision, stating,

“By streamlining the fiat on-and-off ramp experience, we aim to make cryptocurrency a seamless part of everyday life, driving forward accessibility and innovation within the TON ecosystem.”

This commitment underscores the importance of facilitating effortless transactions in the digital asset space, propelling mainstream adoption.

Moreover, the Foundation is exploring treasury management options with HashKey Group, signaling a deeper integration of financial infrastructure within the crypto ecosystem. This collaboration not only strengthens the operational framework but also underscores the commitment to sustainable growth and development.

HashKey Group’s recent expansion initiatives in Asia, including the co-organization of the Web3 Festival conference and the launch of its global crypto exchange, further solidify its position as a key player in the digital asset landscape. The unveiling of its Ethereum Layer-2 chain underscores its dedication to technological innovation and scalability.

Ton’s Market Action

In parallel with these developments, Toncoin (TON) had witnessed a remarkable surge, nearing its all-time high of $5.8 recorded in November 2021. This resurgence, fueled by positive project developments and the association with Telegram, has propelled the token to the eleventh position in market capitalization, exceeding $18 billion. The widespread adoption of Telegram as a messaging platform contributes to TON’s growing popularity, amplifying its reach across diverse user bases, as reported by TWJ.

The recent announcement regarding the Kaspersky Securities partnership and the anticipation surrounding a potential $30 billion valuation have further bolstered investor confidence in the long-term prospects of the token. Additionally, the introduction of perpetual futures trading on Binance, coupled with plans to incorporate the token trading, reflects the growing demand and interest in the TON ecosystem.

As TON continues to evolve and expand its ecosystem, partnerships like the one with HashKey Group play a pivotal role in enhancing accessibility, liquidity, and overall user experience. These collaborative efforts underscore the collective commitment to driving innovation and mainstream adoption in the dynamic world of digital assets.

Weekly Highlights: Bitcoin & Ethereum Rebound Strongly While Some Altcoins Surges 

by

Bitcoin (BTC) experienced a huge price drop after achieving a new ATH, and Ethereum (ETH) also faced a major decline in its value, and both are now recovering from their recent dip. However, the overall market is stable; a few altcoins from the top 50 list made impressive gains and showed outstanding price performance.

Among these altcoins, the standout performer was Toncoin (TON). Internet Computer (ICP) and Fantom (FTM) followed closely behind with impressive growth, securing second and third positions.

Toncoin (TON) made a significant mark with a remarkable 35% surge over the past week and an almost 155% surge over the last 30 days. As of the latest data, TON is trading at $5.38 and has increased 7.80% in price. Despite positive price movement, TON experienced a 35% decrease in trading volume in the last 24 hours.

TON 7D graph coinmarketcap 1
Toncoin (TON) 7-Day Chart | Source: CoinMarketcap

Internet Computer (ICP) garnered significant attention, with a weekly increase of more than 33%. Currently, ICP is trading at $16.79, with a 21.81% increase in value. ICP experienced a significant 109.56% increase in trading volume within the last 24 hours.

ICP 7D graph coinmarketcap 1
Internet Computer (ICP) 7-Day Chart | Source: CoinMarketcap

Fantom (FTM) also made waves with a 30% gain during the past week. Moreover, FTM surged by almost 171% over the last 30 days, showing outstanding price performance. As of the latest data, FTM is currently trading at $1.08, with a 3.23% increase in price and a slight decrease of 0.89% in trading volume in the last 24 hours.

FTM 7D graph coinmarketcap 2
Fantom (FTM) 7-Day Chart | Source: CoinMarketcap

Moreover, several altcoins made impressive gains, such as Bitcoin Cash (BCH), Dogecoin (DOGE), and Aptos (APT) also reported gains in their weekly charts, with BCH up by 20%, DOGE by 15%, and APT showing a 13% increase, according to data from CoinMarketCap.

Bitcoin (BTC) & Ethereum (ETH) Weekly Review

Bitcoin (BTC) recently underwent a significant price decline subsequent to reaching an all-time high (ATH) at $73,637. After retracing from this pinnacle to $60,807, Bitcoin found support at this level and has since rebounded. At present, Bitcoin is trading at $67,304, accompanied by a 24-hour trading volume of $61.55 billion and a market capitalization of $1.32 trillion. Over the past 24 hours, BTC has witnessed a 5.07% increase in price.

BTC 7D graph coinmarketcap 25
Bitcoin (BTC) 7-Day Chart | Source: CoinMarketcap

Market analysis from Santiment indicates a heightened focus among traders on the challenges associated with holding BTC in cold storage, ETFs, and various borrowing options, amidst Bitcoin’s endeavor to recover from its most sustained dip in over 5 months.

image 78 3

There is a divergence in opinions regarding meme coins, with some enthusiasts still embracing the notions of freedom and the “wild west” ethos they represent, while others express skepticism regarding potential scams within this realm and the broader cryptocurrency market.

Cryptocurrency analyst Ali Martinez has drawn attention to a notable development in the world of Bitcoin. Specifically, there has been a remarkable surge in the trading of dormant $BTC tokens, the likes of which haven’t been witnessed in over two years. This uptick in activity suggests a potential increase in price volatility for Bitcoin in the near future.

image 78 5

Ethereum (ETH) experienced a significant decline from its recent peak of $4,087 to $3,059, before rebounding to its current price of $3,500.72. Its 24-hour trading volume stands at $13.65 billion, with a market capitalization of $420.34 billion, having witnessed a 5.25% increase in price over the past day.

ETH 7D graph coinmarketcap 24
Ethereum (ETH) 7-Day Chart | Source: CoinMarketcap

Santiment also highlights the collaborative efforts of Ethereum and Solana communities in response to SEC security allegations, amidst a retracement in ETH price (-18% since March 11th).

image 78 4

Whale activity has surged, polarizing traders, with attention drawn to the 30-day average returns of ETH wallets, suggesting a justifiable buy stance. Additionally, Ethereum’s RSI has dropped to 28.5, the lowest since the price bottom in late January, indicating potential market conditions favorable for investment.

Related Reading |  Grayscale’s Bitcoin Bonanza: A Ticking Clock For GBTC Holdings