A surge in active addresses increases TON's network activity helping TON break and stay above the 100 SMA level.
The TON Masterchain has reached a record of 946 daily active addresses, a 7x increase since July 2021, as KyledoopsAlthough some analysts suggested that the TON blockchain might be a bubble due to its low daily active user count, broader market metrics challenge this view, indicating the network’s solid progress and potential in the long-term.The TON/USDT weekly chart revealed a reversal candle with a long tail, indicating bullish pressure, supported by growing volume in recent weeks.
Moreover, Bollinger Bands are tightening, suggesting a potential squeeze, but the best bet lies in the breakout to the upside.On the daily time frame, Toncoin was nearing a breakout above 100 simple moving average, which has posed some resistance.A potential 50-60% bullish wave is expected in the near future, with $10 per TON being a realistic target for traders and investors, suggesting strong upward momentum ahead.Aaltcoins are poised for a significant breakout after retracing above the range.
Combined with USDT minting, this could cause significant gains for TON and other crypto assets. Expect major price increases in late Q3 or early Q4 of 2024.TON’s market cap was $16.82 billion at press time, with a fully diluted market cap of $34 billion.The trading volume in the last 24 hours was $227 million, and the volume-to-market cap ratio was 1.4%, indicating adequate liquidity.Lennox is a professional financial market analyst who's enthusiastic about blockchain, cryptos, and web3.
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