Black_background_logo_BitcoinWorld-removebg-preview
Toncoin Hits New Price All-Time High As Price Climbs Past $7.3 In Latest Surge
Investing Latest News News

Toncoin Hits New Price All-Time High As TON Price Climbs Past $7.3 In Latest Surge

  • Toncoin (TON) has recently hit a new price all-time high, and new ATH records could be set if the positive momentum continues.

Toncoin (TON) has generated quite a buzz in the last few days due to significant price increases. It experienced a notable spike in social dominance, and its Open Interest also showed a positive trend.

Toncoin Sets New ATH Record

Bitcoinworld’s daily analysis of Toncoin revealed its first significant spike on 2nd June. The chart showed an 8.60% increase, taking its price from around $6.3 to approximately $6.8.

On 4th June, Toncoin experienced another significant spike of 7.48%, pushing its price to over $7.3. 

This new price range became its all-time high, surpassing the previous ATH of around $7.2, which was reached in April.

Toncoin briefly deviated from this new price range with a decline of over 1.6% on 5th June. However, it has since regained its position.

As of this writing, Toncoin is trading at around $7.3, with an increase of over 1.7%. This recent increase means the price has been able to maintain the new all-time high (ATH). Any further increase would establish a new ATH.

Furthermore, an analysis of Toncoin’s Relative Strength Index (RSI) indicates it is currently in a strong bull trend. As of this writing, the RSI is above 67, showing it is close to the overbought zone.

Toncoin Sees Second-Highest Seven-Day Increase

Analysis of data on Coinstats showed that Toncoin has increased by over 12% in the last seven days. Among the top 20 assets, only Binance (BNB) had a higher increase, with over 19%. 

TON Price Chart | Source: Coinstats

 

As of this writing, Toncoin’s market cap is around $17.6 billion, making it the ninth-largest asset by market capitalization.

Additionally, data from Santiment showed that Toncoin (TON) is experiencing a significant level of social dominance. 

As of this writing, its social dominance is over 1.3%, indicating that it is part of around 1% of discussions in the cryptocurrency space. 

At the start of the month, its social dominance was over 2%, but it has declined in the past few days.

More Cash Flows Into TON

Analysis of Toncoin’s Open Interest on Coinglass showed a significant cash inflow in recent days. The chart indicated that Open Interest rose to almost $227 million on 5th June before declining.

As of this writing, the Open Interest is around $220 million.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.