$TON

Toncoin rebounds

Toncoin is the native cryptocurrency of The Open Network, which is separate from the Telegram platform but is widely used by Telegram users.

Following the news of the Telegram founder's arrest in France on Aug. 24, 2024, the price of TON fell by more than 35%, from nearly $6.88 to $4.44 by September 2024, before it started to recover.

TON peaked at $7.20 on Dec. 4, 2024, after a historic gain on the cryptocurrency markets, but then steadily declined to a low of $2.363 on March 11 before rebounding.

Since March 11, TON has marked five straight days of gains; March 15 gains were the largest, with TON reaching highs of $3.637, where it met resistance. Toncoin is up 20% weekly; a sustained breach above the daily SMA 50 at $3.645 would kick a fresh uptrend for the TON price.