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Toncoin Price Prediction – Why Is TON Pumping Over 20%?

Toncoin should I buy
Toncoin should I buy

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2022 could have been a better year for the crypto market, with so many things going wrong in the global economy. The valuation of every crypto in the market has taken a hit and has been treading on a bearish trend since then. The utility token of The Open Network (TON) is no exception in this case.

This surprised many, as TON was made available to the general public in August 2021.  Three months later, it reached its all-time high value of  $5.84 in November of the same year. Consequently, many in the market began to speculate about the token’s performance, further fueling more confusion among investors.

So here is an educated and well-thought-out TON price prediction to establish more clarity on this front.

But First, Let’s Understand The Origin Of Toncoin

Also known as The Open Network, Toncoin is the brainchild of the founder of the platform Telegram from Russia. It was 2018 when both the founders, Nikolai Durov and Pavel Durov, came up with the idea of the Toncoin.

The tech-savvy brothers were interested in developing a layer 1 chain for supporting the growing user base on Telegram. Hence after investing a lot of time and effort, the duo finally realized their vision and came up with TON.

The crypto project garnered a lot of traction, and the brothers raised $1.7 billion through a private sale in 2018. But things went sour in 2019 with the SEC suing Telegram with an accusation of promoting security offerings without viable registration. However, the case was soon settled in 2020, but the founders decided to call quotes on the project.

The same year a team of developers got together, intending to pursue the project and resume the development process. The leader of the project is TON foundation operates as a not-for-profit organization.

This spin-off of the original TON later garnered even more popularity after the former founder, Ravel Durov, later backed the project. He also made it clear that, unlike TON, the Toncoin was wholly independent of Telegram.

TON in Late 2021 and 2022

The TON foundation put a lot of effort into adding a distinct spin to the TON. In the third quarter of 2021, two decentralized bridges were created, linking TON with the Ethereum and Binance Smart Chain networks.

This meant that TON users could now transfer their TON holdings in either of the blockchain networks. This was a big deal for the token as many renowned crypto exchanges now listed TON enabling it to reach its all-time high value during the same period. Some of these exchanges include prominent names such as HitBTC, OKX, Gate.io, FTX, and Bitget.

As for 2022, the project will benefit from even better user-oriented features and functionalities. One of the most notable of these features is the TON Payment feature which allows one to facilitate instant off-chain value transfers between bots, users, and relevant services.

TON Price History And Performance Until Now

As mentioned earlier, Toncoin went live on 26th August 2021 with a valuation of $0.41. Following the launch, the token performed relatively well, with steady growth in the next few months and eventually reaching an all-time high value of $5.84 on 12th November 2021.

The OKX crypto exchange platform then organized a staking program, and a million TON were available in the price pool for staking the OKB token.

This was a very successful program for Toncoin, with further revelations showing about 4.2 million tokens were involved in the event. Consequently, Toncoin again peaked, reaching $5 in December 2021.

But thanks to the volatile nature of the crypto market, Toncoin began 2022 with a bearish trend. This resulted in Toncoin losing most of its previous gains from 2021. However, things changed for good again, with Huobi Global exchange launching a price pool for TON traders. As a result, the token managed to attain a valuation of $2.04 on 7th September 2022.

A slight dip followed this in the market, but Toncoin still managed to retain a valuation of $1.790060 as of 27th October 2022.

Toncoin Price Prediction

The volatility of the crypto market makes it very challenging to predict the future of a particular token. But experts evaluate trends and information at hand to paint a clearer picture for investors. In the case of the Toncoin, there are diverse price predictions from different experts, where some foresee a bullish and some a bearish future.

Experts are rather optimistic about the future of Toncoin in the coming years. They expect the token to grow and reach a valuation of $2.42 by the end of 2022. Further, they expect Toncoin to reach a valuation of $3.42 by the end of 2023 and ultimately reach $14.94 in the next five years.

Toncoin price prediction

Unfortunately, not every crypto expert is optimistic about Toncoin’s future. Some experts are suggesting the token’s price will average at around $1.46 in 2022. They further add that Toncoin might attain a valuation of $3.61 by 2025 and $7.62 by the end of this decade.

As you might have already noticed, all these predictions give you a diverse perspective on Toncoin’s future. Hence it is highly recommended you refrain from basing your investment decisions on these predictions alone. Instead, you must also conduct your research and due diligence to understand the crypto market better and base your investment decisions accordingly.

Bottom Line

Toncoin is undoubtedly one of the most performant new-generation crypto tokens available in the market. But that does not make it easier to predict the precise future of the token as there are so many variables at play.

Hence, you should use this aforementioned information as a reference and combine it with your research and market knowledge. This combination will help you make better investment decisions and mitigate the chances of loss.

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