Toncoin's native token, TON, has been struggling to maintain an upward trend despite its impressive yearly gains. While the token faces price pressure, its ecosystem has experienced remarkable growth, suggesting a potential for recovery.
Toncoin has been struggling to maintain an upward trend recently, but the altcoin has seen substantial gains throughout the year. On a yearly basis, TON climbed 144.52% to trade at $5.38. While many other altcoins struggled to outperform Bitcoin's returns in 2024, TON's exceptional performance highlights its unique dynamics and adoption.This success stems from growth across various aspects of the Toncoin ecosystem, particularly a significant surge in Total Value Locked (TVL).
Toncoin's TVL benefited from growing investor confidence in the TON ecosystem and an increase in staking and liquidity. Derivatives also witnessed a surge in investors and capital inflows. Throughout the year, this activity reached record highs in terms of transactions and users within the Toncoin ecosystem. The network saw over 5 million users and 24 million transactions. 2024 marked remarkable growth for Toncoin's ecosystem, further showcasing the strength and utility of the network. If this trend continues into 2025, Toncoin could establish itself as a leading blockchain for the future.Despite the positive ecosystem growth, Toncoin's native token TON has faced challenges. Over the past week, TON fell by 5.09%, and 16.55% on the monthly charts. However, AMBCrypto's analysis indicates that the downtrend is weakening, and market sentiment may be shifting bullish. This shift is evident in investors withdrawing more from exchanges than depositing. Netflows declined to -882.49k. The altcoin saw 2.35 million TON in outflows compared to 1.47 million in inflows. This suggests investors are accumulating the altcoin. This accumulation trend is also noticeable among whales, with whale supply spiking to 781k over the past week. On the price charts, Toncoin's Stoch and RVGI made bullish crossovers at press time. The Stoch crossover occurred 48 hours ago, confirming the strengthening uptrend over the past day. Toncoin may be well-positioned for a reversal to the upside as downward pressure diminishes. With positive market sentiment, TON could experience a significant recovery. If this sentiment persists, TON will reclaim $5.83. However, if the bearish trend continues, it will dip to $5
TONCOIN ECOSYSTEM GROWTH PRICE PRESSURE BULLISH SENTIMENT RECOVERY
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