TONcoin Soars by 20% in a Week, $3 Possible Over the Weekend

The resurgence of TONcoin (TON) has placed it back among the most sought-after digital assets in the crypto market. Over the course of the week, its value surged by an impressive 20%. Looking back over the past 30 days, TONcoin has witnessed an incredible 50% increase in price, making it a hot topic of discussion among crypto traders and investors.

The recent surge in TONcoin's prices is not only capturing attention but also driving significant investments into the cryptocurrency. Experts at NewsBTC suggest that if this momentum persists, we might see 1 TON trading at $3 in the upcoming weekend or days to come. Currently, TON has successfully crossed the $2 mark, with a trading value of $2.16 at the time of writing, as reported by CoinMarketCap. It ranks 11th in terms of market capitalization, standing at an impressive $7.4 billion.

Another noteworthy factor is the substantial increase in trading volume. In the past 24 hours alone, TONcoin recorded a trading volume of $27 million, surpassing the average daily volume observed over the last 20 days, which stood at $19 million. This surge in trading activity further underscores the growing interest in TONcoin.

TONcoin's strong performance is particularly remarkable considering the overall bearish sentiments prevailing in the cryptocurrency market. While many cryptocurrencies are facing downward pressure, TON appears to be weathering the storm relatively well. However, it's worth noting that bearish sentiments in the broader market are tempering the optimism surrounding TON's rally.

Behind the positive sentiment surrounding TONcoin lies a fundamental catalyst. The Telegram messenger team has confirmed their imminent integration of the TON wallet, adding to the growing appeal and utility of the cryptocurrency.