$TON
🚨Why is Toncoin Price Up Today?🚨
TON is trending in the crypto space today, fueling its price surge. Starting with STON.fi, the leading DEX on TON, raised $9.5 million in Series A funding. Notably, this exchange accounts for 80% of the DeFi users on the network, controlling $6 billion in trading volume.
The funding has highlighted the token, pushing it to break out from the key resistances. Experts’ Toncoin price prediction suggests that the Fibonacci targets are at $4.00 and $4.40, which could extend to even $5.00 if the momentum builds.
In addition, the TON Foundation (with Kingsway Capital) has established a $400 million institutional treasury to acquire and hold the native token. This step is designed to create a long-term reserve that can support the ecosystem’s stability, reduce circulating supply, and more.
During the same period, the on-chain activity has surged significantly. IntoTheBlock data highlights that new addresses have surged 36.68% and active addresses have jumped 51.48% over the week, fueled by treasury and ecosystem upgrades.
Overall, the new development around the blockchain network is pushing Toncoin into the limelight, fueling its demand and price rally.
