Upcoming Update to TON Blockchain May Push Toncoin Price to $20

The latest v2024.10 update for the TON blockchain has improved data management and strengthened network security, potentially increasing overall system efficiency.

This technical progress could push Toncoin price towards the $20 mark, increasing market confidence and attracting further support.

Upcoming Updates for TON Blockchain

Currently, around 84.61% of Toncoin holders are experiencing losses. If the price can surpass the $5.11 threshold, significant buying activity could begin, thereby helping the price grow. The TON development team has announced this important update to address network vulnerabilities and improve the functionality of the TON ecosystem.

Potential Price Surge After Update

With these improvements, some cryptocurrency analysts estimate that the price of Toncoin could reach $10, with even more ambitious targets estimating the price of Toncoin could reach $20. This update may strengthen the stability of the blockchain and encourage market players to reassess Toncoin's price growth potential.

Important Improvements to the TON Network

The latest TON blockchain update introduces several technical improvements aimed at improving network speed and security. With the release of version v2024.10, memory synchronization and cleanup for systems using slower drives has been improved. These improvements contribute to increased speed and efficiency, providing greater data processing capacity. Additionally, this update has reduced data transfer volume, thereby lowering network traffic. This increased efficiency can result in reduced transaction costs for users.

Toncoin Price Technical Analysis

Currently trading at $4.75, Toncoin appears to be at a critical support level. Technical indicators show that the price has been approaching this support threshold over the past year. Historically, Toncoin prices only dip below this moving average in bear markets, indicating a potential opportunity for long-term investors. Additionally, an ascending trend line formed since July 2024 has supported Toncoin price. If the price can sustain above this trend line, a bullish trend may emerge and cause further price increases.

In a bullish scenario, Toncoin could fill the price gap between $4.21 and $4.89. If it manages to break this range, it could pave the way for an upward move towards $6.51 and even $10.

The majority of Toncoin holders lose

Currently, 84.61% of Toncoin holders bought at a price higher than the current market value, indicating that many are facing losses and may choose to sell if the price approaches their initial level. About 9.68% of shareholders made a profit, while 5.71% had bought near the current price and are unlikely to sell any time soon.

For Toncoin to achieve a sustainable price increase, it must break the resistance level between $4.94 and $5.11. A steady breakout of this range could attract demand from investors who believe in recent network improvements and future potential.

Conclusion

Recent updates to the TON blockchain aim to improve network security and efficiency, which could increase market confidence and further increase the price of Toncoin. These improvements, including faster transaction speeds and lower fees, prepare the network for a larger user base. With Toncoin currently at a significant support level, if it can surpass the resistance at $5.11, this could attract greater investor interest and start a bullish trend.

You May Like These Also: