- Toncoin surged 38% to $3.60, driven by strong on-chain growth, STON.fi’s funding success, and a $400M treasury partnership.
- While major cryptocurrencies decline, Toncoin stands out with rising transactions, active users, and bullish technical signals.
While much of the crypto market remains in retreat, Toncoin has emerged as a surprising standout. The token jumped 38% from its June lows to trade at $3.60, bolstered by a wave of positive ecosystem developments and a sharp uptick in on-chain activity. As Bitcoin and Ethereum face downward pressure, Toncoin’s recent growth offers a stark contrast.
STON.fi Sparks Ecosystem Momentum
A key driver behind the rally is STON.fi, the largest decentralized app (dApp) on the Toncoin blockchain. It recently secured $9.5 million in funding from prominent backers like Ribbit Capital and CoinFund. The platform has shown robust usage, with $6.7 million in trades over a single day and over $113 million traded in the past month, according to DeFi Llama. This level of engagement highlights the increasing relevance of Toncoin’s DeFi sector.
Strong On-Chain Activity Signals Growth
On-chain data further reinforces Toncoin’s upward trajectory. Weekly transactions climbed by 32% to 3.8 million, while network fees surged 52%. The number of active addresses also rose by 5%, showing broader user adoption and ecosystem maturity. These metrics point to a blockchain gaining real-world traction, not just speculative interest.
$400M Treasury Deal with Kingsway Capital
Adding to the bullish outlook is a newly announced $400 million treasury initiative with Kingsway Capital. This strategic partnership aims to enhance Toncoin’s liquidity and mirrors similar moves made by other top-tier blockchains to solidify market stability. This investment strengthens institutional interest and supports Toncoin’s long-term growth.
Technical Breakouts Suggest More Upside
Technically, Toncoin has broken above critical resistance at $3.58, completing a bullish double-bottom formation. It also surpassed the 23.6% Fibonacci retracement level, with potential for a bullish crossover between the 50-day and 100-day moving averages. Analysts now eye $4.77 as the next major resistance point.
Conclusion: Toncoin Breaks Out While Peers Fall Back
Toncoin’s 38% surge highlights growing confidence in its ecosystem and user base, defying the current crypto downturn. With increased DeFi activity, rising on-chain metrics, and institutional backing, the token appears well-positioned for further gains. As the broader market struggles, Toncoin is signaling strength where others falter.
DISCLAIMER:
The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of the publisher. The publisher does not endorse or guarantee the accuracy of any information presented in this article. Readers are encouraged to conduct further research and consult additional sources before making any decisions based on the content provided.
