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Toncoin Price Prediction 2024: Can TON Cash In on Notcoin Buzz?

Last Updated June 4, 2024 10:21 AM
Peter Henn
Last Updated June 4, 2024 10:21 AM

Key Takeaways

  • Toncoin has fallen after reaching an all-time high in April 2024.
  • TON outperformed the market in 2022 but underperformed in 2023.
  • Can TON continue to make a comeback as excitement builds around Notcoin?
  • One Toncoin price prediction says it can reach $18.75 in 2025.

Toncoin managed to reach an all-time high in April, but has fallen since then. On April 11, it reached a peak of around $7.25, but was unable to maintain that level.

Toncoin and Telegram

TON has a complex relationship with Telegram.

It was founded by Telegram developers after the app’s original Gram crypto, also known as TON, was deemed to be an unregistered security by the United States Securities and Exchange Commission (SEC). 

Another Telegram-linked coin, Notcoin (NOT), is jumping notably recently and the market wonders if this positive sentiment may boost also TON’s price.

On June 4, 2024, TON was worth $6.70. The price’s climb was partially due to a buoyant market and partially due to speculation surrounding a Telegram public listing.

But what is Toncoin (TON)? How does Toncoin work? Let’s see what we can find out, and also take a look at some of the Toncoin Price Predictions that were being made as of June 4, 2024.

Toncoin Price Prediction

Let’s examine some of the Toncoin price predictions being made on June 4, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

2024 2025 2030
Prediction #1 $14.58 $17.20 $49.77
Prediction #2 $12.05 $18.75 $52.22
Prediction #3 $3.15 $4.72 $31.49

First, CoinCodex  had a short-term Toncoin price prediction that said TON would climb to $8.72 by June 11 before surging to $22.05 by July 3. The site’s technical analysis was bullish, with 27 indicators sending encouraging signals and three making bearish ones. 

Toncoin Price Prediction for 2024

DigitalCoinPrice  said Toncoin would be worth $14.58 in 2024. Bitnation  thought it would trade at $12.05 while PricePrediction.net  had TON at $3.15 this year. 

Toncoin Price Prediction for 2025

Bitnation said Toncoin would reach $18.75 in 2025. DigitalCoinPrice forecasted the coin to hit $17.20. PricePrediction.net said TON would be worth $4.72 next year.

Toncoin Forecast for 2030

Moving on to a more long-term Toncoin price prediction, PricePrediction.net forecasted the coin to reach $31.49 in 2030. DigitalCoinPrice said it would be worth $43.73 then. Bitnation had a TON price prediction that said it would be worth $52.22 at the start of the next decade.

Google BardAI Price Prediction for Toncoin (as of June 4)

Google’s Gemini platform gave the following price prediction for Toncoin on June 4. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligence price predictions are predicated on past performances and are in no way entirely accurate.

Short Term (Next three months)

  • Expected Price: $21.45
  • Factors to Consider:
    • Market Sentiment: Bullish market sentiment can drive prices up, while bearish sentiment can lead to a decline.
    • Developments in the Toncoin Ecosystem: Positive developments like upgrades or wider adoption could increase the value of Toncoin.
    • Overall Cryptocurrency Market Trends: The broader cryptocurrency market can significantly impact Toncoin’s price.

Medium Term (Next six months)

  • Expected Price: $18.33
  • Factors to Consider:
    • Overall Cryptocurrency Market Trends: The general health of the cryptocurrency market can significantly impact TON. If the market experiences a bull run, TON is more likely to rise.
    • Ton Blockchain Developments: News and developments on the Ton blockchain, such as new features or partnerships, could boost investor confidence and raise the price.
    • Regulations: Government regulations on cryptocurrencies can create uncertainty and impact prices.

Long Term (Next five years)

  • Expected Price: $30.88
  • Factors to Consider:
    • Market sentiment: Bullish markets tend to drive cryptocurrency prices up, while bearish markets can cause them to fall.
    • Developments within the Toncoin ecosystem: New features, partnerships, and adoption can all increase demand for TON.
    • Regulations: Government regulations can impact the cryptocurrency market in various ways.
    • Overall economic conditions: A strong global economy can benefit riskier assets like cryptocurrencies, while a weak economy can hurt them.

Recent Updates from Toncoin

Toncoin hit an all-time high in April, but has fallen since then. The price surge came after a pretty busy few months. In January, the Notcoin P2E telegram-based game signed up  more than four million users in a week.  In other news, a group of TON users has proposed  rewarding people who lock their TON up for five years.

The crypto rallied in March , shooting up 55% in the three days from March 10 to March 13. At the same time, speculation was buzzing as Telegram’s founder hinted he would look at publicly listing the messaging service.

TON Price History

Now, let’s look at the Toncoin price history . While we should never take past performance as an indicator of future results, knowing what the coin has achieved can provide us with some very useful context if we want to make or interpret a Toncoin price prediction.

TON first came onto the open market on August 26, 2021, when it was worth $0.41. A bullish market saw it grow over the following months. It reached an all-time high of $5.84 on November 12 before dropping back to close the year at $3.68.

2022 was not a good year for crypto. However, although TON fell across the course of the year, it still managed to outperform the market. A series of market crashes saw it fall below the dollar in June, but it soon recovered. By the end of the year, it was worth $2.07. Although an annual loss of 43.75% may have caused concerns, but in the context of a crypto market that lost more than 60% of its value year-on-year, it was one of the better performing coins. 

Toncoin in 2023 and 2024

Toncoin price history
Toncoin price in 2023 and 2024. | Credit: CoinMarketCap

With TON outperforming the market in 2022, investors might have thought it could do the same again in 2023. Unfortunately, it did not do quite so well. 

TON fell below $2 in May and, on July 30, it sank to $1.16, its lowest price in nearly a year. 

It climbed at the start of August, but Elon Musk’s SpaceX crashed the market when it offloaded millions of dollars worth of Bitcoin (BTC) in the middle of the month.

After that, it recovered. It rose more than 45% in August, from $1.19 at the start of the month to $1.74 at the end. On September 1 2023, it was worth about $1.75. The crypto ultimately rose over the month, peaking at $2.58 on September 19. After that, though, it fell to $1.91 on October 12. Following that, there was a comeback. The market became bouyant as excitement about spot Bitcoin ETFs surged and it closed the year at $2.31. This represented an annual rise of more than 10%.

By January 15, 2024, Toncoin was worth about $2.35. The coin went on a rally in March as the market blossomed thanks to Bitcoin hitting a string of all-time highs. Toncoin went on an upturn, reaching an all-time high of $7.65 on April 11 before dropping to around $5.90 on April 18. It then regained value in the following month and hit $6.70 on June 4, 2024.

At that time, there were 2.41 billion TON in circulation, out of a total supply of just over 5.11 billion. This gave the coin a market cap of $16.21 billion, making it the tenth largest crypto by that metric.

Toncoin Historical Price Data

Period Toncoin Price
June 4, 2024 $6.70
May 28, 2024 $6.48
May 4, 2024 $5.7162
March 4, 2024 $2.7206
June 4, 2023 $1.7512
Launch price (August 27, 2021) $0.5199
All-time high (April 12, 2024) $7.2521
All-time low (August 27, 2021) $0.5199

Toncoin Price Analysis

Toncoin Price Analysis
Toncoin could reach yet another all-time high soon | Credit: Nikola Lazic/TradingView

The price of TON reached a record high on April 12, outperforming the broader market, which slumped the following day. After this peak, TON experienced a downturn, resulting in a 40% drop to a low of $4.60 by May 1.

The 4-hour chart’s Relative Strength Index (RSI) dipped to 36%, nearing oversold territory and suggesting a potential reversal. This was followed by a new upward movement, which is the start of a five-wave uptrend. However, there are two possible scenarios ahead. 

The development of three waves from May 1 led TON back to revisit its all-time high but ended slightly lower. Another downturn followed, with the price falling to its May 6 high of $6.20. 

The rise since May 1 is corrective, and we’ve either seen a double top or are at the next upturn. If the first is true, June 4’s high will end shortly as a lower one, indicating a move downside below its May 1 low. 

But if it continues to rise above $6, there is a strong chance of a new all-time high, likely above $8. 

Is Toncoin a Good Investment?

It is hard to say. TON has fallen over the last week or so, but it has risen overall since the start of the year, reaching an all-time high in April. 

Meanwhile, although Pavel Durov’s announcement might seem like a good sign, someone could look at the way in which Toncoin evolved from a Telegram project and decide that it was inevitable the tech boss would hold the crypto. 

Not only that, but its lineage might see it confused with Gram, a coin branded an unregistered security by the SEC. At a time when the SEC has been trying to crack down on unregistered securities, this could be an issue. 

On the other hand, The Open Network is one of the fastest blockchains out there and does have some genuine potential. Its native coin is also versatile, which might stand it in good stead in the long run.

Finally, the recent social media buzz around Notcoin, another Telegram-linked coin, may act as a boost for Toncoin.

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in TON.

Will Toncoin go up or down?

No one can really tell right now. While the Toncoin crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. 

Should I invest in Toncoin?

Before you decide whether or not to invest in Toncoin, you will have to do your own research, not only on TON, but on other, related, coins and tokens such as Ethereum (ETH) and Solana (SOL). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Who is the founder of Toncoin?

Toncoin was founded by a group of Telegram developers. Telegram itself was founded by Pavel and Nikolai Durov.

Who owns the most Toncoin (TON)?

As of June 4, 2024, one wallet held 25.79% of the supply of Toncoin.

Richest TON Wallet Addresses

On June 4, 2024, the five richest Toncoin wallet addresses were

  • EQDtFpEwcFAEcRe5mLVh2N6C0x-_hJEM7W61_JLnSF74p4q2. This wallet held 1,317,379,090 TON, or 25.79% of the supply.
  • Ef8zMzMzMzMzMzMzMzMzMzMzMzMzMzMzMzMzMzMzMzMzM0vF. This wallet held 575,131,938 TON, or 11.26% of the supply.
  • EQBmzW4wYlFW0tiBgj5sP1CgSlLdYs-VpjPWM7oPYPYWQEdT. This wallet held 531,223,640 TON, or 10.40% of the supply.
  • EQCMOXxD-f8LSWWbXQowKxqTr3zMY-X1wMTyWp3B-LR6s3Va. This wallet held 224,958,191 TON, or 4.40% of the supply.
  • Ef_mlXHnufWO3-vvopflR_NpIFMiidvp_xt20Qf8usMBBKzB. This wallet held 112,400,332 TON, or 2.20% of the supply.

Fact Box

Supply and distribution Figures
Total supply 5,107,208,410
Circulating supply (as of June 4, 2024) 2,412,375,064 (47% of total supply)
Holder distribution Top 10 holders own 50.52% of total supply as of June 4, 2024

From the Whitepaper

In its technical documentation, or whitepaper , Toncoin says it aims to be fast, efficient, and easy to use. 

It says: “The Open Network (TON) is a fast, secure and scalable blockchain and network project, capable of handling millions of transactions per second if necessary, and both user-friendly and service provider-friendly. We aim for it to be able to host all reasonable applications currently proposed and conceived. 

“One might think about TON as a huge distributed supercomputer, or rather a huge superserver, intended to host and provide a variety of services.”

Toncoin (TON) Explained

One of the key features of the blockchain is privacy. Therefore, it is perhaps inevitable that organizations that also promote privacy and encryption have got behind blockchain technology. 

One such organization is the Telegram messaging app. In 2018, Telegram started work on its own blockchain, the Telegraph Open Network, which was to be supported by the gram (TON) coin. 

Unfortunately, it fell foul of the SEC, which found that TON was an unregistered security. 

All was not lost, though. Telegram developers founded an open-source platform called Newton which was renamed The Open Network and properly launched in 2021, supported by the Toncoin  (TON) cryptocurrency.

How Toncoin Works

The Open Network is based on a Proof-of-Stake (PoS) consensus mechanism, which means that people add blocks to the blockchain, verify transactions and earn rewards based on how much TON they hold. 

The platform promises transaction speeds of less than one second, making it potentially one of the quickest blockchains around. 

Toncoin itself is used to pay for transactions on the network and for data storage. Holders can vote on changes to the network and stake it, or set it aside, in return for rewards. It can also be bought, sold, and traded on exchanges. 

It is important to remember that Toncoin is not to be confused with Gram, even though they have a similar history and the same ticker handle.  

Toncoin Attention Tracker

Toncoin Google search volume
Toncoin Google search volume. | Credit: Google

Here is a chart for Toncoin Google search volume for the past 90 days. This represents how many times the term “Toncoin” has been Googled over the previous 90 days. 

FAQs

How many Toncoin are there?

On June 4, 2024, there were 2.4 billion TON in circulation, out of a total supply of just over 5.1 billion.

Will Toncoin reach $10?

It could do. Bitnation and DigitalCoinPrice say it can get there this year, PricePrediction.net thinks TON can reach double figures in 2028.

It is worth remembering that Toncoin has never traded at $10. Its highest ever price, $5.84, came in November 2021. 

What is Toncoin used for?

TON is used to pay for transactions and data storage on The Open Network blockchain. People who hold Toncoin can vote on changes to the platform and stake the coin, or set it aside, in return for rewards. TON can also be bought, sold, and traded on exchanges.

Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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