Toncoin has been gaining attention from traders in June due to its expanding ecosystem and strategic partnerships. One notable integration is with Telegram, a popular messaging platform with over 900 million users. In addition, Pantera Capital’s investment in The Open Network has increased market confidence in the project. The introduction of Tether stablecoins on the TON blockchain and the potential IPO of Telegram have also generated interest.
The price of Toncoin has shown a 63% increase over the past month, reaching a high of $7.5 on May 13. This upward trend has caught the attention of major market players, as seen in the increased number of addresses holding between 100,000 and 1 million TON tokens. This accumulation by whales suggests a positive outlook for the project and can influence market sentiment.
The bullish sentiment is further supported by the formation of an ascending triangle pattern in the TON price chart. This pattern, characterized by a horizontal resistance line and an ascending trendline, indicates a potential breakout with a target price of $9.4, a 47% increase from current levels.
Overall, Toncoin’s ecosystem expansion, strategic partnerships, and bullish technical setup make it a cryptocurrency to watch in June. The confidence displayed by major investors and the potential for a breakout further contribute to its value proposition in the long run.