Toncoin Price Prediction 2024: TON Dips After All-Time High
What's next for Toncoin?
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?
- One Toncoin price prediction says it can reach $20.60 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 $7.65, but was unable to maintain that level. By April 18 2024, it was worth about $5.90.
The news came not long after a test carried out by blockchain analysis company CertiK suggested Toncoin was the world’s quickest blockchain.
The test saw Toncoin carry out 104,715 transactions per second.
In a statement , the TON Foundation’s core development lead, Anatolii Makosov, said: “The most amazing thing is that, despite the record-breaking results, the speed reached is not the limit of what TON is capable of. With a sufficient number of validators, TON’s unique architecture allows the blockchain to scale almost infinitely and process millions of TPS from billions of users.”
Although TON fell to its lowest level in almost a year in late July, it has since made a recovery, climbing more than 100% between the start of August and September 19. The upturn came as the system’s latest developer report suggested that more people were involved with building decentralized applications (dApps) on the Toncoin blockchain.
One such dApp, the Notcoin Telegram game, came out in January 2024.
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).
On March 13, 2024, TON was worth about $4.30. 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 April 18, 2024.
Toncoin Price Prediction
Let’s examine some of the Toncoin price predictions being made on April 18, 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 | $12.70 | $14.83 | $43.73 |
| Prediction #2 | $14.72 | $20.60 | $50.04 |
| Prediction #3 | $2.98 | $4.33 | $27.22 |
First, CoinCodex had a short-term Toncoin price prediction that said TON would climb to $8.02 by April 23 before surging to $20.31 by May 18. The site’s technical analysis was neutral, with 19 indicators sending bullish signals and eight making bearish ones.
Toncoin Price Prediction for 2024
DigitalCoinPrice said Toncoin would be worth $12.70 in 2024. Bitnation thought it would trade at $14.72, while PricePrediction.net had TON at $2.98 this year.
Toncoin Price Prediction for 2025
Bitnation said Toncoin would reach $20.60 in 2025. DigitalCoinPrice forecasted the coin to hit $14.83. PricePrediction.net said TON would be worth $4.33 next year.
Toncoin Forecast for 2030
Moving on to a more long-term Toncoin price prediction, PricePrediction.net forecasted the coin to reach $28.56 in 2030. DigitalCoinPrice said it would be worth $43.73 then. Bitnation had a TON price prediction that said it would be worth $50.04 at the start of the next decade.
Google BardAI Price Prediction for Toncoin (as of April 18)
Google’s Gemini AI platform gave the following price prediction for Toncoin on April 18. 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 Few Weeks):
- Prediction: $7.25 – $8.02 by April 22nd, 2024 (Possible increase of 16-29%)
- Reasons: Current sentiment leans bullish, with some analysts predicting a rise due to technical indicators [4]. Toncoin has seen positive movement recently (17 green days out of the last 30). However, the overall cryptocurrency market can be volatile, so this is not a guaranteed increase.
Medium Term (Next 6 Months – 1 Year):
- Prediction: $6.16 – $29.07 (Wide range due to uncertainty)
- Reasons: Predictions for the mid-term vary greatly. Some analysts expect continued growth based on positive sentiment surrounding Toncoin [3]. However, others predict a decrease due to potential market corrections [5].
Long Term (Next 5+ Years):
- Prediction: $12.13 – $32.74 (Highly speculative)
- Reasons: Long-term predictions are inherently difficult. They often hinge on the success of Toncoin’s underlying technology and adoption by users. If Toncoin gains traction and integrates well with Telegram, it could see significant price appreciation [6, 7]. However, the cryptocurrency market is ever-changing, and unforeseen events could impact Toncoin’s price.
Overall:
- Short-term predictions suggest moderate growth, but caution is advised due to market volatility.
- Mid-term predictions are uncertain due to opposing viewpoints.
- Long-term predictions are speculative but hold potential for significant growth if Toncoin achieves widespread adoption.
It added: “These are predictions, not financial advice. Always do your own research before investing in any cryptocurrency.”
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
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.
At that time, there were 3.4 billion TON in circulation out of a total supply of just over 5.1 billion. This gave the coin a market cap of $20.4 billion, making it the ninth-largest crypto by that metric.
Toncoin price analysis
On April 11, the price of TON reached an all-time high. On the next day, it fell more than 30% to $5, which was an interaction with the ascending support anchored at the March 17 low of $3.40.
This could have been the fourth wave of a five-wave move that started on March 17. On April 18, another interaction with ascending support could result in a bounce. However, it looks like this bounce will form a lower high, followed by a downturn.
The next significant support point is at $4.80. TON could be headed for a major correction.
As the price is within a tight range at the moment, a breakout direction will dictate the next likely outlook. There is also a strong chance the price might continue its downturn.
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.
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 April 18 2024, one wallet held more than 25% of the supply of Toncoin.
Richest TON Wallet Addresses
On April 18 2024, the five richest Toncoin wallet addresses were
- EQDtFpEwcFAEcRe5mLVh2N6C0x-_hJEM7W61_JLnSF74p4q2. This wallet held 1,317,379,088 TON, or 25.80% of the supply.
- EQBmzW4wYlFW0tiBgj5sP1CgSlLdYs-VpjPWM7oPYPYWQEdT. This wallet held 531,223,640 TON, or 10.41% of the supply.
- Ef8zMzMzMzMzMzMzMzMzMzMzMzMzMzMzMzMzMzMzMzMzM0vF. This wallet held 490,258,758 TON, or 10.09% of the supply.
- EQCMOXxD-f8LSWWbXQowKxqTr3zMY-X1wMTyWp3B-LR6s3Va. This wallet held 234,486,426 TON, or 4.59% of the supply.
- Ef_mlXHnufWO3-vvopflR_NpIFMiidvp_xt20Qf8usMBBKzB. This wallet held 112,400,331 TON, or 2.2% of the supply.
Fact Box
| Supply and distribution | Figures |
|---|---|
| Total supply | 5,105,381,672 |
| Circulating supply (as of April 18, 2024) | 3,471,070,845 (67.98% of total supply) |
| Holder distribution | Top 10 holders own 50.52% of total supply as of April 18, 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
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
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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