TON Cryptocurrency Targets $10

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Key facts: New developments, alliances and functionalities drive TON. At the time of this publication, TON surpassed ADA and is ranked 9th by capitalization. The cryptocurrency toncoin (TON) has reached a new all-time high price (ATH) today, April 11, around $7.6 (USD). In this way, it accentuates its upward trend, making it possible to reach higher figures. Precisely, TON has been rising to new price records for several weeks. As shown below, this occurs in the midst of moments of consolidation with small setbacks and lateralization, which is healthy for the bullish trend to continue.

TON price in the last month and a half. Source: TradingView. During this upward trend, in which its price tripled, it saw drops of between 15% and 25%. Therefore, another similar pullback to its new high of $7.6 is likely as a test of support for further upside. As soon as the market consolidates this price zone, could head to the psychological barrier of USD 10, since it is a two-digit round number. In addition, it would imply an increase of around 25%, a typical percentage increase that has occurred in this upward trend.

TON is now the 9th largest cryptocurrency

With the rise of TON, Its market capitalization rose to USD 25 billion, surpassing the one owned by the cardano cryptocurrency (ADA). It is now positioned 9th in the ranking. This has been motivated in part by the rise in the price of bitcoin (BTC), which reached a new all-time high almost a month ago, driving cryptocurrencies in general higher. Likewise, it has taken place in the midst of different developments related to TON. Last week, It was learned that a platform within Toncoin is working on a project that seeks to validate the humanity of people by scanning biometric data. As BitcoinDynamic reported, this is an initiative similar to the one implemented by Worldcoin. In addition, in the same week, the mobile messaging application Telegram included the cryptocurrency for advertising payments on the platform. These developments were added to others from days before, such as the fact that the asset management company 21Shares launched a TON exchange-traded investment fund (ETF), which makes it easier for traditional investors to access it.