TONCOIN Price Forecast: Rocky Road to Reclaim $6

The chart above shows, on Aug 25, prior to Durov’s arrest, Toncoin blockchain network hosted 43.08 million active funded address. But curiously

The chart above shows, on Aug 25, prior to Durov’s arrest, Toncoin blockchain network hosted 43.08 million active funded address. But curiously, the figure has since surged by 1 million to reach 44.02 million at the time of writing on Aug 28.

This implies that nearly the number funded TON wallets has grown by 1 million in the last 3-days since Durov’s arrest.

An increase in Funded Addresses implies that there’s an influx of new users, not only joining the network, but also bringing fresh capital inflows. This demand surge, partly explains why TON price managed to avoid a breakdown below $5 amid intense market volatility on Tuesday.

For context, between Aug 1 and Aug 25, Toncoin had only recorded 6 million new funded wallets, showing that the 1 million surge in the last 3-days is an outlier event.

If this trend persists in the days ahead, TON price is likely to extend its current 10% recovery and edge closer to the $6 mark, as these newly-funded wallets begin to perform economic activity on the Toncoin blockchain network.

TONCOIN Price Forecast: Rocky Road to Reclaim $6

Looking ahead, Toncoin faces a challenging but potentially rewarding path to reclaiming the $6.00 level. The IntoTheBlock’s “Global In/Out of the Money” chart shows that most Toncoin holders acquired their assets at prices ranging between $2.29 and $5.13. This cluster of investors provides a strong support base that prevented the price from breaking below $5.00.

The above is the detailed content of TONCOIN Price Forecast: Rocky Road to Reclaim $6. For more information, please follow other related articles on the PHP Chinese website!