Toncoin ‘beat’ Bitcoin in 2024 – How, why, and will 2025 be the same?

Toncoin outperformed Bitcoin in 2024, with its TVL climbing to its highest level
TON surged by 144.52% over the past year

Despite experiencing difficulty in maintaining a consistent upward trend as of now, Toncoin [TON] has experienced considerable growth over the course of this year. For example, on an annual basis, TON saw a rise of 144.52% to be trading at $5.38 at the moment of press.

Over this timeframe, I’ve noticed that it has stood out as one of the top-performing cryptocurrencies within the market.

That’s not all though as according to CryptoQuant, Toncoin even outperformed Bitcoin [BTC] in 2024.

Toncoin outperforms Bitcoin!

Based on CryptoQuant’s assessment from 2024, TON managed to exceed Bitcoin’s performance, which made it one of a small number of altcoins that outperformed Bitcoin during that period.

In contrast to many other alternative cryptocurrencies that failed to surpass Bitcoin’s gains in the year 2024, TON stood out with its impressive performance, showcasing its distinct characteristics and growing popularity.

Consequently, this outstanding performance can be attributed to the expansion seen in different sectors of the Toncoin ecosystem. Notably, there was a significant increase in Total Value Locked (TVL).

toncoin’s total value locked (TVL) performed exceptionally well due to an increase in investor trust in the TON ecosystem, which led to more individuals engaging in staking and increasing liquidity. Additionally, there was a significant rise in the number of investors and capital flowing into derivatives.

In 2024, the Toncoin ecosystem reached unprecedented heights with a record-breaking number of transactions and users. The network boasted over 5 million active users and facilitated more than 24 million transactions, underscoring impressive growth and reinforcing the robustness and usefulness of the system.

Notably, if this trajectory persists until 2025, Toncoin might solidify its position as the front-runner in blockchain technology for the coming years.

What are the implications for TON’s price?

As Toncoin’s environment expands, its own token, TON, has encountered notable challenges. For example, over the last seven days, TON decreased by 5.09%, and it dropped by 16.55% in comparison to the previous month.

Even though the price dropped recently, AMBCrypto’s assessment suggests that the downward trend might have run out of steam. Interestingly, the market mood could be shifting towards optimism at this point.

In other words, it appears that investors are taking out more funds from these exchanges than they are putting in, leading to a decrease in net deposits of approximately 882,490 units.

As a researcher, I’ve observed an interesting trend in the altcoin market. Specifically, there were approximately 2.35 million TON in outflows, contrasted with only 1.47 million TON in inflows. This discrepancy suggests that investors might be gradually accumulating this particular altcoin, potentially indicating growing interest and confidence in its future value.

Over the last week, the amount of this resource being hoarded by whales has noticeably increased, reaching a peak of 781,000 units.

At the current moment, the Stoch and RVGI indicators on Toncoin’s price charts have undergone a bullish crossing. Specifically, the bullish crossover on the Stoch occurred 48 hours ago, which reinforces the strong upward trend that has been occurring over the past day.

In simpler terms, Toncoin might see an increase in value since the current downward trend seems to be slowing down. With investors becoming more optimistic, Toncoin could experience a substantial rise. If this positive sentiment persists, Toncoin may regain its previous price of around $5.83. Conversely, if the negative trend continues, it could dip towards the $5 mark.

2025-01-13 06:15

Toncoin outperforms Bitcoin!

What are the implications for TON’s price?

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