Introduction
Toncoin (TON) has been quite popular in the cryptocurrency market as it quickly covers significant growth and has sound technology. This report looks into the Toncoin price forecast from 2024 to 2030, including its background, establishment, token features, and the characteristics commanding its rise. Also, we will unveil how you can purchase TON on CoinEx.
What Is TON?
TON stands for The Open Network, and it has its native cryptocurrency, Toncoin. TON is also capable of making a payment for a transaction, performing transactions, and verifying the transactions on Toncoin, which uses a Proof of Stake (PoS) consensus algorithm.
The Open Network (TON) was initially developed by Telegram as the Telegram Open Network, but after legal challenges from the U.S. Securities and Exchange Commission (SEC) in 2020, Telegram withdrew from the project. The development was then taken over by open-source developers under the name "NewTON”. TON provides fast and cost-effective transactions, with a consensus mechanism designed to consume less energy compared to traditional Proof of Work (PoW) systems. Another interesting feature of The Open Network, better known as TON, is its ability to easily grow and develop while being very adaptable and friendly to the environment.
History and Development
The idea of TON was announced by the two Telegram founders, Pavel and Nikolai Durov, in August 2018. The first token, Gram, can sell up to $1.7 billion through private sales, second only to the largest ICOs of the time. Still, in 2020, the U. S. Securities and Exchange Commission (SEC) decided that Gram tokens are securities, and Telegram terminated the project's further development. Its development was handed over to a small group of open-source developers known as NewTON, who continued its development using the project code on the GitHub platform.
Why is the Toncoin Price Falling?
Many investors have expressed concern over the recent decline in Toncoin's price. While some speculate that the drop may be linked to rumors of Telegram CEO Pavel Durov's arrest in France, there are no official reports confirming this event. Nevertheless, the rumors have negatively impacted Toncoin's market performance. According to French newspapers, Durov was arrested at Le Bourget Airport following an arrest warrant from OFIM, a branch of the French National Police. The arrest is linked to the alleged negligence of the crimes conducted through the Telegram application, which, as per the statements, was overseen by Durov.
As a result, this development has resulted in a sharp 26.57% in the price of Toncoin, with the cryptocurrency dropping below $7.03 to approximately $4.89. While this sudden dip is alarming, it is crucial to remember that the fundamentals of Toncoin have not changed. However, the token might regain some value once the situation around Durov’s arrest calms down; therefore, it is one of the most significant moments investors need to pay attention to.
TON Price Prediction long-term 2025-2030
Considering the historical price trends of Toncoin and the BTC halving cycles, the yearly low of Toncoin's price in 2025 is expected to be $4.93. On the other hand, Toncoin has been predicted to surge to its highest point in value, $21.37, next year. On the same basis, here is Toncoin’s price projection for the coming years until 2030.
Toncoin Price Prediction 2024
TON price prediction for the months and subsequent years indicate that Toncoin (TON) is set to rise in September 2024. Most analysts considered that the minimum it could have reached was $7.49, and some projections had it rising to as low as $7.5 by December. This positivity is supported by the observation of the advancement in network technology and the expected increase in uptake density.
However, it remains necessary to recall that the cryptocurrency market is inconceivably volatile, and rates can rise or fall depending on the mood of the exchange and the external environment. Therefore, each interested investor should conduct a proper analysis and consider the potential risks of investment.
How to Buy TON on CoinEx
CoinEx is a global cryptocurrency exchange trusted by over 6 million users worldwide. To purchase Toncoin on CoinEx, follow these steps:
- Create an Account: Sign up for a CoinEx account if you still need to get one.
- Deposit Funds: Deposit funds into your CoinEx account using your preferred payment method.
- Search for TON: Use the search bar to find Toncoin (TON) on the platform.
- Place an Order: Choose the type of order (market or limit) and enter the amount of TON you wish to purchase.
- Confirm Purchase: Review your order details and confirm the purchase.
Is Toncoin A Buy Now In 2024?
The present market performance pattern and stability raise some hope as to how its price may surge further in 2024. The sharp growth observed since late February and reaching more than three times in price speaks about the coin's potential for accumulating massive investor attention and momentum. At the end of April, the TON price also had a corrective phase; however, the price has been stable at some level compared with the overall movement.
In the future, the volatility of the Toncoin price and its break above vital levels, such as $7, may trigger the next buying round and bring the asset to new milestones. The correlation of technical indicators to Fibonacci pivot levels means there are more potential up-moves, including retesting of previous all-time highs and even higher ones. However, the same applies to any crypto asset; price swings and pullbacks are expected. Users should be informed and act only at their own risk.
Conclusion
TON, or Toncoin, has proven its effectiveness and grown significantly due to its solid technological background and vast community. The predictions for the prices from 2024 to 2030 show another developing picture, which reveals excellent opportunities in the long run. It is therefore recommended that investors consult and undertake their own research and understand the risk involved in the Toncoin investment opportunity.
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