In a recent statement, Flow, an analyst at cryptocurrency platform SwissBorg, examined the reasons for the recent increase in the altcoin value of Toncoin (TON), despite the decline in most of the market.
Flow began by noting a few important observations. Total Value Locked (TVL) on the Ton Blockchain continues to reach all-time highs (ATHs) and the number of daily active addresses continues to break new records as well. When token transaction volume and number of holders are examined, a strong upward trend is evident.
Flow noted that technically, TON is in a long-term uptrend and has just emerged from a bullish consolidation. Additionally, according to the analyst, TON is showing significant relative strength against BTC.
Flow shared some thoughts on TON's performance. “TON has overcome many technological and regulatory hurdles to be here today,” the analyst said, adding: “The chain and ecosystem are starting to attract real interest from users, developers, and institutional investors.”
Flow stated that TON has its own advantages in being able to transform 900 million Telegram users into the ecosystem. “This alone warrants taking TON seriously,” the analyst added.
However, according to the analyst, although there are some promising applications in the ecosystem, these applications are still developing. Flow also emphasized the importance of Tether integration.
*This is not investment advice.