If you frequently trade cryptocurrencies, you likely know Toncoin—the native cryptocurrency used on The Open Network (TON) platform. Originally named Gram, it aimed to streamline crypto payments directly on Telegram. However, regulatory intervention halted these plans. Fortunately, the TON Foundation revived the project, transforming it into The Open Network we know today.
Want to capitalize on Toncoin's momentum? From understanding price predictions to conducting technical analysis, here’s everything you need to trade TON effectively.
What Is Toncoin (TON)?
Toncoin is the native utility token powering the TON blockchain, launched by the TON Foundation. Its uses include network operations, staking, on-chain governance, and payments. TON was developed to integrate cryptocurrency into every wallet, scaling to support millions of users.
Toncoin Updates: Roadmap Progress
Beyond technical analysis, staying updated on TON’s catalysts is crucial. Key milestones include:
- Security Audits: Partnered with CertiK since December 2022 for smart contract audits.
- Telegram Integration: Promoted TON’s Web3 ecosystem within Telegram, including a self-custody crypto wallet.
- Deflationary Mechanism: Burns 50% of transaction fees received by validators.
- TON Virtual Machine Upgrades: Simplified smart contract writing and enhanced security.
As 2023 concludes, TON aims to demonstrate blockchain scalability and build ETH, BNB, and BTC bridges for cross-chain interoperability.
TON Price Performance
In 2023, TON traded between $0.96 and $2.71. While ETH and BTC surged 57% and 113% YTD, TON gained ~24%. After a mid-2023 dip, catalysts like Telegram integration spurred bullish momentum, with TON reaching $2.69 by November 2023.
Technical Analysis of TON
Simple Moving Average (SMA)
- 50-day SMA crossing below 200-day SMA (May 2023): Signaled bearish momentum ($0.96 low).
- 50-day SMA crossing above 200-day SMA (September 2023): Marked a bullish rally. Current SMA alignment suggests long-term appreciation.
Relative Strength Index (RSI)
- RSI > 70 (November 2023): Indicated overbought conditions (77.84), hinting at a potential correction. Historical trends show similar dips after RSI peaks.
Toncoin Price Predictions
Analyst predictions as of November 8, 2023:
| Predictor | TON Price 2023 | TON Price 2025 |
|---|---|---|
| DigitalCoinPrice | $2.38 - $5.82 | $7.81 - $9.64 |
| Gov Capital | $2.68 - $3.63 | $10.48 - $14.18 |
| CryptoPredictions | $1.77 - $2.60 | $2.11 - $3.11 |
| CoinCodex | $2.32 - $3.04 | $3.68 - $9.69 |
| Techopedia | $1.16 - $3.02 | $5.40 - $6.60 |
| AMBCrypto | $1.68 - $2.53 | $3.80 - $4.56 |
Most analysts are bullish, forecasting ~10% upside for 2023 and multiples of current prices by 2025.
Is Trading Toncoin Worth It?
Bullish Factors
- Telegram Integration: 800M+ monthly users drive mass adoption. Features include TON payments for Telegram Premium.
- Ecosystem Growth: Cross-chain bridges and scalability enhancements.
Bearish Concerns
- Wallet Security: TON Space’s non-custodial claims questioned due to omitted private key storage.
- EVM Incompatibility: Limits developer migration from Ethereum.
Final Thoughts
While analysts project upside, RSI signals short-term overbought conditions. Catalysts like Telegram partnerships and cross-chain bridges bolster Toncoin’s long-term potential, but macroeconomic risks persist.
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FAQs
Who Owns Toncoin?
Originally created by Telegram’s founders, now maintained by an open-source community.
What Is TON’s Circulating Supply?
Max supply: 5,000,000,000 TON.
Is Toncoin on Ethereum?
No—TON is an independent Layer 1 blockchain with Ethereum-based smart contracts.
What Is Toncoin Used For?
Powering dApps, transactions, governance, staking, and cross-chain operations.