Enjoying an astronomical 166% rise this month, Toncoin is sparking widespread market excitement.
But with such an uptick already taking place, has the time to buy Toncoin passed?
Toncoin Price Chart and Fundamentals Indicate Massive Potential, but Consolidation May Prevail
Market analysts are significantly bullish on Toncoin’s technical and fundamental analysis.
Toncoin is trading at $5.59, up 13% today, 50% this week, and 166% this year.
Its $11 billion market cap makes it the 11th largest crypto. However, its 24-hour trading volume is just $388 million, putting it in the 35th spot.
Toncoin is a Telegram-native blockchain, with Telegram users gaining seamless accessibility directly through the app.
This allows them to interact with dApps, trade, invest, and more. Telegram boasts over one billion users, presenting massive growth potential for Toncoin.
Analyst Terra Gatsuki explained that Telegram has recently launched ads and will make payments in TON, “making the first step toward true mass adoption.”
“This is very important for the flow of money into crypto! Telegram has 1 billion active users that are natively integrated into Web3. This new standard will revolutionize digital advertising and monetization,” he said.
Evidently, Toncoin’s integral position within the Telegram ecosystem sets a considerably bullish precedent.
Moving to its technical analysis, TradingView analyst Alexhp200 anticipates another leg up toward $7 in the coming weeks. The analyst predicted this when TON traded at $4.9, pointing to $5.7 as its first target.
Meanwhile, Bittherium_io predicts an uptick toward $10 in the coming months, noting a symmetrical triangle breakout.
However, Toncoin’s exponential growth this month may limit its upside. This is exasperated by its high market cap and relatively low trading volume, which signify a lack of market interest and momentum.
Additionally, Toncoin’s RSI is in the oversold region, indicating a consolidation or retracement may be on the horizon.
Indeed, the project’s revolutionary use case and integrity to Telegram present potential, but after such a parabola, its near-to-midterm upside may be limited.
But another promising crypto is Green Bitcoin, a new ICO that has raised a staggering $8.8 so far.
Hottest Bitcoin Alternative Green Bitcoin Raises $8.8M and Offers 76% Staking APY
Generous rewards, and low-energy transactions are at play in the new Green Bitcoin ecosystem.
As a revolutionary alternative to the market-leading cryptocurrency, Green Bitcoin launched on the Ethereum blockchain for increased sustainability, functionality, and accessibility.
By substituting Bitcoin’s Proof-of-Work for Ethereum’s Proof-of-Stake model, Green Bitcoin transactions are drastically more energy efficient.
According to its website, one Bitcoin transaction demands a staggering 1,173,000 Wh of energy. In comparison, one Green Bitcoin transaction uses a modest 34 Wh.
This has made Green Bitcoin a favorite among eco-conscious investors and mainstream media outlets. Despite its early stage, heavyweights like Yahoo Finance, Cointelegraph, Techopedia, and Inside Bitcoins have all featured it.
However, Green Bitcoin also appeases value-seeking traders with its groundbreaking predict-to-earn mechanism.
This feature invites users to guess whether Bitcoin’s price will rise or fall the next day in exchange for $GBTC rewards and up to 100% bonuses.
Users must stake $GBTC to access the feature, hard-wiring token utility into the project. In a two-pronged approach to rewards, stakers will also receive passive rewards for locking their tokens, currently valued at 76% APY.
Yet this will decrease as more tokens are staked, so those looking to maximize their growth should not wait around.
