Toncoin hits new all-time high; Price climbs past $7.3 after…

  • TON has set a new ATH in price.
  • The social dominance was over 1%.

Toncoin [TON] has generated quite a buzz in the last few days due to significant price increases. It experienced a notable spike in social dominance, and its Open Interest also showed a positive trend.

Toncoin sets new ATH record

AMBCrypto’s daily analysis of Toncoin revealed its first significant spike on 2nd June. The chart showed an 8.60% increase, taking its price from around $6.3 to approximately $6.8.

On 4th June, Toncoin experienced another significant spike of 7.48%, pushing its price to over $7.3. 

This new price range became its all-time high, surpassing the previous ATH of around $7.2, which was reached in April.

Toncoin briefly deviated from this new price range with a decline of over 1.6% on 5th June. However, it has since regained its position.

As of this writing, Toncoin is trading at around $7.3, with an increase of over 1.7%. This recent increase means the price has been able to maintain the new all-time high (ATH). Any further increase would establish a new ATH.

Toncoin price trend

Source: TradingView

Furthermore, an analysis of Toncoin’s Relative Strength Index (RSI) indicates it is currently in a strong bull trend. As of this writing, the RSI is above 67, showing it is close to the overbought zone.

Toncoin sees second-highest seven-day increase

Analysis of data on CoinMarketCap showed that Toncoin has increased by over 12% in the last seven days. Among the top 20 assets, only Binance (BNB) had a higher increase, with over 19%. 

As of this writing, Toncoin’s market cap is around $17.6 billion, making it the ninth-largest asset by market capitalization.

Additionally, data from Santiment showed that Toncoin (TON) is experiencing a significant level of social dominance. As of this writing, its social dominance is over 1.3%, indicating that it is part of around 1% of discussions in the cryptocurrency space. 

Toncoin social dominanceToncoin social dominance

Source: Santiment

At the start of the month, its social dominance was over 2%, but it has declined in the past few days.

 Is your portfolio green? Check out the Toncoin  Profit Calculator

More cash flows into TON

Analysis of Toncoin’s Open Interest on Coinglass showed a significant cash inflow in recent days. The chart indicated that Open Interest rose to almost $227 million on 5th June before declining.


As of this writing, the Open Interest is around $220 million.


Next: XRP at a standstill? What the price indicators suggest

Source link

About The Author

Scroll to Top