TON in Numbers: Analyzing the Current State as of August 2024

Current State Analysis

In the past month, TON's price has been on a rollercoaster ride. From the "Bloody Monday" of August 5th, when the price dipped to around $5.00, to today, where the asset continues to climb, reaching above $7.00. This volatility indicates that after the correction, the market still believes in TON's potential

According to DYOR.io, the current price of TON is $6.61, reflecting a 14.14% increase in the last 24 hours. The market capitalization stands at $17.98 billion, placing TON at the eighth position among all cryptocurrencies.

Trading Volume and Liquidity

Trading volume is a key indicator of interest in TON, and it shows significant growth. In July 2024, the average daily trading volume exceeded $500 million, demonstrating high investor confidence and increasing liquidity. In the last 24 hours alone, trading volume reached $520 million, a 31.50% increase from the previous day. This clearly shows that TON is back in the spotlight, with players actively investing.

The circulating supply is 2.52 billion coins out of a total of 5.11 billion.

Reasons for Increased Trading Volume

1. Rapid Ecosystem Development: New decentralized applications and protocols built on TON are driving interest.
2. Listing on Top Exchanges: TON's availability on leading cryptocurrency platforms has expanded its potential trader base.
3. New Partnerships and Integrations: More projects and platforms are choosing TON, fueling interest in the coin.

Price Trends

TON's price has faced many challenges. The historical low was on September 20, 2021, at $0.3906. Throughout 2023, the price fluctuated between $1.50 and $3.00. However, 2024 marked a turning point: in the spring, the price began to rise sharply, reaching a new peak of $8.24 on June 15th. From its lowest to highest price, TON has made an impressive leap of nearly 1800%.

What Influences TON's Price?

• News and Announcements: Every major update or new partnership immediately impacts the price.
• Overall Crypto Market: Correlation with giants like Bitcoin and Ethereum also plays a role.
• Adoption and Usage: The growing number of network users directly strengthens TON's market position.

Key Drivers Behind TON's Success

Integration with Telegram

Imagine your favorite messenger not just for communication but also for cryptocurrency. With its 900 million users, Telegram has become the perfect platform for TONcoin. Now anyone can easily send and receive tokens right in the chat, which has massively boosted interest in the coin.

Earnings from Advertising

In February 2024, Telegram introduced the ability to earn from ads paid in TON. This is not just about earnings but also about supporting quality content and being rewarded for it. Another plus in TONcoin's popularity.

Support for Web3 Projects

TON Foundation allocated $124 million to support promising Web3 projects. This not only strengthened the network but also attracted many smart and ambitious developers ready to build the future.

Partnership with Tether

Thanks to the collaboration with Tether, it's now easy to send stablecoins to each other within Telegram. This made TONcoin not just a trendy asset but a genuinely useful tool for everyday transactions.

Future Outlook

The future of TON looks optimistic. If TON continues to evolve and expand its functionality, the price could surpass its historical maximum by the end of 2024. The launch of new services and an increasing user base will be the key drivers of growth.

Even if the price stabilizes at $6-7 in the coming months, it will be a sign of market maturity and TON’s stability.

Of course, like any other crypto asset, TON has its risks. In the face of negative news or global economic shifts, the price could temporarily drop to $3.50-4.00.

TON continues to impress. The rise in trading volumes and positive price trends indicate high interest in the project. However, the cryptocurrency market is unpredictable, and investors should consider the risks. Despite this, TON’s future looks promising - its role in the world of decentralized technologies is only getting stronger.