Will Toncoin’s Recent Momentum Lead to Further Gains?

  • Toncoin is experiencing a pivotal moment as it navigates recent developments surrounding Telegram founder Pavel Durov’s legal status.

  • The aftermath of Durov’s release shows promising metrics despite a slight cooling in Toncoin’s price, indicating resiliency among holders.

  • A quote from Durov reflects the sentiment, stating, “It feels great to be home,” which may bode well for investor confidence in the crypto asset.

This article delves into Toncoin’s recent price movements, the effects of Pavel Durov’s release, and on-chain metrics indicating potential for future growth.

Toncoin’s rally slows after weekend surge

Toncoin (TON) saw a sharp recovery in recent days, briefly rallying from $2.59 to $3.66 — an over 40% gain — following news of Durov’s travel approval. However, the bullish momentum has begun to cool, with Toncoin trading at $3.41 at press time, down 1.25% in the last 24 hours. The RSI has dropped from overbought levels and sat at 53.31, signaling weakening buying pressure.

toncoin

Source: TradingView

Meanwhile, the On-Balance Volume (OBV) remained negative at -835K, suggesting that recent gains may have lacked strong accumulation. Volume spikes seen during the weekend were tapering, indicating potential hesitation among traders. Unless broader participation picks up, TON risks slipping into consolidation or a short-term retracement.

Profitability and on-chain valuation signal underlying strength

Toncoin profitability metrics

Source: IntoTheBlock

Toncoin’s profitability metrics suggest strong holder confidence, with 73.82% of tokens “in the money” — indicating most holders bought below the press time price of $3.48. Only 12.25% of addresses remained “out of the money,” indicating minimal overhead resistance.

Toncoin NVT ratio

Source: IntoTheBlock

Meanwhile, the NVT ratio has shown volatile swings, but a clear decline in early March followed by a price breakout suggests undervaluation was corrected. As the price surged from March 13 to 15, the NVT ratio dipped, indicating that transaction volumes supported the rally. With NVT rising again and a majority of addresses in profit, TON appears structurally resilient, although further upside may depend on sustaining high transaction volumes.

Will TON’s rally persevere?

Toncoin total value locked

Source: DeFiLlama

According to DeFiLlama, TON’s Total Value Locked (TVL) surged from $140M to nearly $170M between March 15-17, reflecting renewed investor confidence. Simultaneously, Santiment data shows a sharp spike in whale transactions and sustained high social volume just ahead of the price breakout.

market activity

Source: Santiment

Surging on-chain activity and social buzz typically signals strong speculative momentum. The price also broke above $3.40 with increasing volume – further validating the rally. While short-term pullbacks are possible, it appears that TON’s uptrend has legs. Unless sentiment sharply reverses or macro conditions shift, Toncoin looks poised to maintain its bullish trajectory.

Conclusion

In summary, Toncoin is at a crucial juncture, driven by recent news surrounding Pavel Durov and underpinned by strong on-chain metrics. With increasing profitability and positive investor sentiment reflected in rising TVL, the token’s future looks promising. Investors should keep an eye on market conditions and on-chain activity as indicators of Toncoin’s potential resilience and continued upward movement.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Trump Administration Debates Personalized Tariffs Amid Tariff Simplification Talks

On March 18th, COINOTAG reported that discussions within the...

Hyperliquid 20x BTC Whale Short Closes with $6.21 Million Profit Amid Market Fluctuations

On March 18th, COINOTAG News reported significant activity in...

Bitcoin’s Bull Market Cycle Ends: CryptoQuant CEO Predicts Bearish Phase Ahead

In a recent disclosure, Ki Young Ju, the CEO...

Binance Delists ALPHA/BTC and Other Trading Pairs on March 25, 2025

In a recent update from COINOTAG on March 18,...

Gate Web3 Wallet Launches F1 Champion’s Road Prediction Event with $100,000 Prize Pool

On March 18th, COINOTAG News reported the official launch...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img