Toncoin (TON) Price Surges as User Activity and Transaction Volume Hit New Highs

Toncoin ($TON) is seeing strong growth as three critical factors—price, user activity, and transaction volume—are rising. The TON price has increased

The price of Toncoin (TON) has risen by 7.44% in the past 24 hours, reaching $2.91 by 08:38 UTC. The cryptocurrency's market capitalization is now over $7.23 billion.

This increase in the Toncoin price is supported by a rise in daily trading volume, which has jumped by 14.48% to $162.69 million, according to CoinMarketCap. This shows that more people are interested in trading Toncoin and that more money is flowing into the market.

The number of people using Toncoin is also skyrocketing, which shows increased interest in its ecosystem. Recent data shows that more unique users are engaging with TON on different online and offline platforms.

The total number of users has steadily increased, with daily new users showing significant jumps, particularly in the last few weeks. This surge may be linked to Toncoin's strong association with Telegram and its expanding use cases.

"Interesting data to take a look at… $TON," Viktor from TON Society said in a recent X post.

Transaction activity serves as yet another crucial indicator of network health. Viktor, a community member at TON Society, shared data from Dune Analytics, highlighting an increase in both on-chain and off-chain transactions.

"Daily transaction volumes have reached multi-week highs," Viktor noted.

This increase in activity matches the rising TON price, indicating strong demand.

Historically, ongoing transaction growth usually points towards long-term adoption and a robust network, which could further drive up prices.

A recent analysis by Rose Premium Signals suggests that the price of Toncoin may be entering a long-term accumulation phase as it stabilizes around important support levels.

This phase often occurs when investors gradually buy up an asset ahead of a significant price increase. The analyst believes this could be a sign of an early breakout, so it is a likely buying signal for investors.

Among the key indicators is the relative strength index (RSI), which is at the point of being oversold. An RSI in such a region tends to indicate that selling pressure is weakening, and a price increase may soon be expected.

If $TON begins to gain momentum, it could lead to a broader rally in the Toncoin ecosystem, helping related altcoins.

The tweet shows three possible price targets for $TON: $5.11, $6.94, and $9.97. These targets indicate a significant potential for Toncoin's price increase if the accumulation phase results in a breakout. In the past, similar setups have resulted in quick price jumps once demand outpaces supply.