Toncoin Price Prediction: TON Surpasses Cardano and Avalanche with $12.5 Billion Market Cap

Toncoin has been gaining a lot of attention in the cryptocurrency world recently. With its market cap reaching an impressive $12.5 billion, it has now surpassed well-known cryptocurrencies like Cardano (ADA) and Avalanche (AVAX). This rapid growth shows how resilient Toncoin is, even when the market faces ups and downs. In this Toncoin Price Prediction article, we’ll explore what’s behind Toncoin's rise, its current position in the market, and what the future might hold for this promising cryptocurrency.

How has the Toncoin Price Moved Recently?

TON/USD Daily Chart- TradingView 

Toncoin is currently priced at $4.91 , with a 24-hour trading volume of $343.10 million, a market cap of $12.44 billion, and a market domin ance of 0.54%. Over the past 24 hours, the TON price has seen a slight increase of 0.96%.

Toncoin reached its all-time high of $8.27 on June 15, 2024. Its lowest price was recorded on September 21, 2021, at $0.523925. Since hitting its all-time high, the lowest price TON has reached is $4.49 (cycle low), and the highest price since that point was $6.12 (cycle high). Currently, the market sentiment for Toncoin is bearish, and the Fear & Greed Index indicates a level of 69, suggesting a state of greed in the market.

Toncoin’s circulating supply is now 2.54 billion TON, out of a maximum supply of 5.00 billion TON. The yearly supply inflation rate is at -26.12%, indicating that 896.57 million TON tokens were generated over the past year.

Toncoin Price prediction: Ton Price is stable

Toncoin's price stability in the second half of October 2024 can be attributed to its strong resilience within the broader altcoin market. Despite facing challenges in gaining momentum after an initial positive start to the month, Toncoin has managed to outperform its competitor layer-1 coins, such as Cardano (ADA) and Avalanche (AVAX) . 

This resilience has enabled it to break into the top 10 ranked cryptocurrencies by market capitalization, demonstrating its robust position in a competitive environment.

The rising popularity of Telegram-based games hosted on the Toncoin network has also played a crucial role in maintaining its stability. 

As Solana memecoins captured media attention throughout October, Toncoin leveraged its platform’s growing appeal among Telegram users, driving increased demand. This boost in user activity and network utilization acted as a significant catalyst, enhancing its market cap and solidifying its position among the top-tier cryptocurrencies.

Looking ahead, if the demand for Toncoin’s ecosystem, particularly its Telegram-hosted games, continues to grow, it could sustain or even increase its current price level. However, the stability also suggests that, while Toncoin is well-positioned, its price movement may remain cautious unless there are further developments or integrations that can create additional momentum. 

The balance between the rising demand for its applications and broader market conditions will be crucial in determining whether Toncoin can maintain its stability or capitalize on opportunities for further growth.

How high can the Toncoin Price go?

Toncoin's price performance over the past year highlights its potential for further growth, given its impressive 138% increase. This growth rate not only demonstrates Toncoin's strong market presence but also shows its capability to outperform major competitors and even industry giants like Bitcoin and Ethereum. 

Its position above the 200-day simple moving average is another bullish indicator, suggesting a sustained upward trend that could continue if market conditions remain favorable.

The negative yearly inflation rate of -26.12% also works in Toncoin’s favor. A deflationary model implies that the token supply is decreasing, which can create upward pressure on the price if demand remains stable or increases. 

This scarcity effect can be a strong driver for price appreciation, especially as Toncoin gains more traction through the rise of Telegram-based games, adding utility and expanding its ecosystem.

Despite these positive signs, it’s important to note that Toncoin has only had 14 green days in the past 30, which represents about 47% of the time. This suggests that while Toncoin has demonstrated growth, it is still subject to volatility. 

Moreover, its medium liquidity relative to its market cap means that while it can handle a decent volume of trades, it may not yet have the stability seen in larger, more established cryptocurrencies. This medium liquidity could result in sharper price swings if there is a sudden influx or outflow of capital.

Given these factors, if Toncoin continues its current trajectory and benefits from increasing demand within its ecosystem, its price could potentially move towards its previous all-time high of $8.27. 

In the long term, should the broader market remain favorable and Toncoin's adoption rate through applications like Telegram games expand further, it could even push beyond this level. However, the key to reaching such highs will be maintaining consistent positive momentum and securing additional use cases to keep demand strong while balancing any market volatility.