Toncoin [TON] is starting to pick up steam.
With Telegram rolling out the network’s self-custodial wallet in the U.S., the community is taking notice! DeFi numbers may be modest for now, but the price gains are nothing to scoff at.
A breakout after a slow start
TON has climbed over the past week, an almost 10% surge; buyers stepped back in after a mid-month dip.
Source: TradingView
The price bounced from the $1.45-$1.50 zone and pushed toward $1.63, breaking above short-term resistance. RSI has showed strength improving, while the MACD flipped bullish. Price also moved toward the upper Bollinger Band, so volatility is increasing too.
While it’s not an explosive rally, looks like there’s more to come.
Wallet push changes the game
The move up happened in tandem with Telegram’s move to launch its self-custodial wallet in the U.S. For the first time, American users can send, swap, and store crypto directly inside a mainstream messaging app!
Source: X
Most blockchains haven’t managed to lower friction the way this has. With access to TON, Tether’s USDT [USDT], NFTs, and the wider TON ecosystem built directly into Telegram, usage will become part of everyday messaging.
It’s not quite there yet
While price went up, supported by strong developments in the real-world scene, the network itself looks a bit tame.
Source: DeFiLlama
TON’s DeFi TVL was around $85 million at the time of writing, still well below its earlier highs. Large capital hadn’t rushed in yet.
However, Stablecoin Supply remained strong near $960 million. Daily App Revenue and Fees looked very consistent. This goes to say that users are active, even if there isn’t much locking of funds long-term.
Activity is building at the base, but liquidity is taking its own sweet time to follow.
Final Thoughts
- Toncoin jumped nearly 10% in a week; Telegram’s U.S. wallet launch boosted interest.
- Network usage is steady, but liquidity needs to catch up.
Source: https://ambcrypto.com/decoding-toncoins-10-rally-and-what-telegrams-u-s-wallet-means-next/