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The Open Network (TON) has been one of the trailblazers in the world of crypto in the past week. The network token for the popular instant messaging platform, Telegram, has gained significant traction after hitting a two-month weekly rally of 32%.
TON’s meteoric rise has been due to a number of strong fundamentals events. The digital asset has grown in leaps and bounds, showing remarkable growth in its ecosystem. Below, we review the fundamental strength backing the digital currency and if a new crypto project promises better yield in the coming weeks.
TON Joins Atomic Wallet
Given the broader crypto market collapse, several projects have seen their fundamental strength weakened as investors become more cautious. However, TON has not slowed down and has continued with its network integration. One such is its recent integration with the Atomic Wallet ecosystem.
As announced in a recent tweet, the TON blockchain is now accessible on the self-custody crypto wallet. This will allow users to transact directly with the ERC-20 token on the Atomic Wallet space. The partnership is expected to kick off early next year officially, but the crypto market has reacted positively to the news.
Welcome, @ton_blockchain to @AtomicWallet!⚡️ Toncoin boasts ultra-fast transactions, low fees, and easy-to-use native apps.
Manage and exchange $TON (ERC20)! Mainnet partnership is planned for early next year. pic.twitter.com/Hutzk7jAVY
— Atomic – Crypto Wallet (@AtomicWallet) December 16, 2022
This follows a CoinMarketCap report which points out that over 250,000 investors have already added the TON asset to their watchlist.
Over 250K @CoinMarketCap users have added Toncoin to their watchlists!
You can also track your favorite coin by following Toncoin on #CMC.$TON
⭐️ https://t.co/PMivemA8Od pic.twitter.com/8jHpNNK3ju
— TON (@ton_blockchain) December 15, 2022
Biget Lists TON
Now done with its integration drive, TON crypto has made another major centralized crypto exchange listing. This time, it is on one of the top global Bitcoin exchanges, Bitget. As announced in a December 14 tweet, Bitget’s 10 million customers will be able to deposit TON and withdraw the TON asset come December 21.
#Bitget has completed $TON mainnet integration and has activated deposits and withdrawals. @ton_blockchain
☑️ The 14th Launchpool starts on Dec 21 $TON
Check out the details. https://t.co/EWq1I4Q8h3 pic.twitter.com/3URQ81vSix
— Bitget (@bitgetglobal) December 14, 2022
Another popular crypto exchange expanded TON’s trading option in the past week. According to a tweet, Gate.io customers can now trade TON/USDT perpetual futures contracts.
The #TONCOIN / $USDT pair is now available for perpetual futures contracts on @gate_io.
Congrats! 🎉$TON
— TON (@ton_blockchain) December 14, 2022
Technical Analysis of TON
Developed by Telegram, TON is a layer-1 blockchain network that aims to onboard billions of users. The platform offers ultra-fast transactions, low fees, intuitive decentralized applications (dApps), and is eco-friendly.
The TON crypto has recently re-emerged after the Telegram team abandoned it due to legal issues with the US Securities and Exchange Commission (SEC). Despite a checkered past, the crypto asset has continued to perform in a larger bear market.
At press time, TON is trading at $2.43, indicating an uptrend of 1.79% in the last 24 hours. Even though this might seem trivial, the digital asset is trading higher than the broader crypto market. Its impressive run is better displayed in its seven-day performance, where it has rallied 32% so far.
Its one-month growth has shot up to 41.9%, with its year-to-date (YTD) performance pegged at an impressive 19.55%.
On the technical front, TON is higher than all its moving averages (MAs), ranging from 10-day to 100-day. Its relative strength index (RSI) is also at the underbought region of 59.5. This means there is a continued chance of an uptrend push.
The moving average convergence and divergence (MACD) are currently tapering off a sell signal, which means investors are coming back into the market.
While TON has shown strong technical and fundamental performance, a new crypto project is grabbing several investors’ attention. Given that it is currently in its presale stage, value-driven investors can easily buy low for higher margin gains.
FightOut- The New M2E Fitness Web 3 App
According to a Statista report, the health fitness space is currently at $96 billion. However, the healthcare industry is stalling due to a lack of radical technology breaking new ground, and FightOut seems to be the solution, as it incorporates cardio and regular health fitness frameworks to boost the space.
The blockchain project is a Move-to-Earn (M2E) gym chain that integrates real-life workouts with competing in the metaverse. The platform directly tracks the health of its users through a fitness app while giving them a community to bond with.
Although it is not the first M2E project, FightOut is unique. It is an M2E project that is in short order. According to the development team, its presale is only set for one stage. This way, only a limited number of investors can buy into the next STEPN disruptor.
📣 It’s official #FightOutCrew!
We reached another milestone – over $2M raised! 🔥
Buy now and get up to a 50% bonus with $FGHT!
Don’t miss out! 👊⬇️https://t.co/xwthuHJbBG pic.twitter.com/1lXXlwWG8l
— FightOut (@FightOut_) December 16, 2022
So far, the FightOut project has already garnered over $2 million in investment. This points to strong investor interest and the huge potential it comes with.
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Source: https://insidebitcoins.com/news/ton-price-prediction-up-32-this-week-but-is-fightout-a-better-investment