Toncoin (TON) simply reached its 26-month-high after securing the highest spot of the gainers’ listing.
TON is up by 34.4% up to now 24 hours and is buying and selling at $3.75 on the time of writing. The latest rally helped the asset safe the thirteenth spot among the many main cryptocurrencies with a complete market cap of over $13 billion.
Furthermore, Toncoin’s every day buying and selling quantity additionally rallied by 342% and is at the moment hovering across the $300 million mark.
Based on knowledge offered by Santiment, TON’s complete open curiosity (OI) surged from $12.1 million on March 11 to $16 million on the reporting time.
Per Santiment, Toncoin’s funding charge is at the moment sitting at 0.05%. This reveals that merchants are nonetheless betting on an additional worth rally except the market takes a U-turn.
Knowledge reveals that greater than 226,000 TON tokens have entered the exchanges up to now 24 hours whereas over 302,000 TON cash have been despatched to self-custodial wallets in the identical timeframe. The 76,000 TON alternate outflow reveals that buyers may be holding the asset for the long run quite than taking short-term earnings.
At this level, the TON price-daily lively addresses (DAA) divergence reveals a purchase sign, in keeping with Santiment. The bullish sign reveals that there’s much less likelihood of whale worth manipulation as extra buyers have participated within the worth rally.
On March 11, Telegram founder Pavel Durov advised the Monetary Occasions that Telegram is lastly prepared for an preliminary public providing (IPO) because it has reached over 900 million customers and a valuation of round $30 billion.
Final week, TON acquired an $8 million funding from Mirana Ventures to develop Telegram’s web3 “SuperApp.”