Toncoin with a current CoinMarketCap ranking of #27 as of when writing this article, has a live market cap of $2,164,213,986 USD. It has a circulating supply of 1,221,401,181 TON coins and a max. supply of 5,000,000,000 TON coins.
This makes Toncoin a gem to look at, in this article, we are going to discuss and analyze the Toncoin price prediction to know whether Toncoin is a good investment or not.
But before discussing about the Toncoin price prediction, let’s know what is Toncoin.
What is Toncoin
Toncoin (TON) is a decentralized layer-1 blockchain developed in 2018 by the encrypted messaging platform Telegram. The project was then abandoned, taken over by the TON Foundation, and renamed from “Telegram Open Network” to “The Open Network”.
Since 2020, the technology has been developing thanks to a non-commercial group of supporters and an independent community of enthusiasts who called themselves the TON Foundation. Toncoin, formerly known as Gram, is the native cryptocurrency of the TON network.
The original idea was to integrate TON into an easy-to-use application that allows users to buy/send/store funds. Clients pay transaction fees and use TON to settle payments or validate transactions. Toncoin utilizes the proof-of-stake (PoS) consensus model for network scalability and reliability. According to the project website, the platform provides its customers with fast, transparent, and secure payment services, facilitating transactions with minimal fees and third-party applications.
The developers’ mission is to build a full-fledged ecosystem with decentralized storage, decentralized services, a domain name system (DNS equivalent), an anonymous network, an instant payment platform, and affordable/fast transaction processing.
The Open Network is a community-driven blockchain with a flexible architecture and focuses on serving a typical consumer. TON stands out due to the fast processing/validation of transactions per second (TPS). In September 2021, the network processed a then-world record of 55,000 TPS during a contest, although the current TPS could be in the hundreds of thousands or even millions. This feature allows the project to grow rapidly while avoiding performance losses. At the same time, the project does not harm the environment.
Toncoin Price Prediction
| Year | Minimum Price | Average Price | Maximum Price |
|---|---|---|---|
| 2022 | $1.60 | $2.14 | $2.26 |
| 2023 | $3.81 | $4.47 | $4.55 |
| 2024 | $5.22 | $5.87 | $6.46 |
| 2025 | $6.83 | $7.65 | $8.04 |
| 2026 | $6.83 | $7.65 | $8.04 |
| 2027 | $8.43 | $9.17 | $9.55 |
| 2028 | $12.00 | $12.80 | $13.31 |
| 2029 | $17.32 | $18.47 | $18.63 |
| 2030 | $24.44 | $25.19 | $25.60 |
| 2031 | $33.33 | $34.18 | $34.65 |
According to Digitalcoinprice’s current Toncoin price prediction, the value of Toncoin will increase by 18.68%, reaching $2.26 by December 30, 2022. All technical indicators indicate that the current sentiment is Neutral, while the Fear & Greed Index is reading 24.66, which means extreme fear.
On November 30, 2022, almost all technical analysis indicators signaled bullish signals, while other indicators signaled bearish signals, indicating a general Neutral sentiment among Toncoin price predictions.
See the exact Toncoin price prediction in the table above; you will know how much Toncoin is worth in the coming months and years.
Over the last 30 days, Toncoin has increased by 17.65%. Due to this, we can get except a slight recovery in the coming month.
By the end of November, the value of Toncoin increased by 20.52% and reached near around $2.11. Currently, all indicators are indicating a Neutral zone, and the fear & greed index shows 24.66 extreme fears. According to our forecast, this is not the right time to hold Toncoin.
Currently, Toncoin is trading below the 200 simple moving average. for the last 326 days, since December 31, 2022, SMA has shown a Toncoin holding signal.
The price of Toncoin is currently running below the 50-day simple moving average (SMA) and it shows a BUY signal.
According to all technical indicators, the 200-day SMA will drop soon, and the price will hit $1.33 by the end of December. By December 2023, 2022, Toncoin’s short-term 50-Day SMA shows a $1.56.
The Relative Strength Index (RSI) momentum oscillator is a popular indicator that signals whether a cryptocurrency is oversold (below 30) or overbought (above 70). RSI is currently at RSIValue. This indicates that the TON market is in a NEUTRAL position.
Is Toncoin a Good Investment?
TON has a multi-level structure built on the principle of sharding or segmentation (“blockchain within a blockchain”). A sharding feature involves the use of multiple subnets (shards) on the same blockchain, where each shard has a specific purpose. It allows the net to avoid the accumulation of unverified blocks and speeds up tasks. The TON network consists of the master, work, and shard chains.
The developers focus on scalability, efficiency and mass adoption. Due to the well-established interaction between segments, the network provides ultra-fast transactions, verifying and processing a massive amount of TPS.
The TON network offers the following services: TON Wallets, a built-in wallet function designed to transfer funds and interact with platform services and offers two categories of wallets: custodial and non-custodial; TON Services allows developers to create various dApps while users can access third-party apps through a user-friendly interface; TON Storage offers the benefits of private encryption using the private key of the owner’s wallet; TON Proxy uses all platform components and allows clients to access the TON blockchain via decentralized VPNs; TON DNS (decentralized name system) makes it possible for traditional websites to work in the TON network, allowing users to set short, readable names
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