Total market capitalization of Toncoin ecosystem exceeds $14 billion | Source: CoinMarketCap
According to data from Coinmarketcap, the total valuation of Toincoin ecosystem tokens exceeded $14 billion as of October 26th. This represents a major positive milestone as the ecosystem is currently valued higher than the market capitalization of TON native coin.
This highlights the growing investor confidence and expansion of projects within the Toncoin ecosystem, marking the transformation from an ecosystem dependent on a single token to a robust network of multiple valuable projects.
Ecosystem ratings of over TON demonstrate the utility, adoption rate, and growing popularity of Toncoin-based decentralized applications, bots, and Telegram games.
In recent months, Telegram games such as Notcoin (NOT) Hamster Kombat (HMSTR) and Dogs have gained considerable popularity and are ranked in the top 4 within the Toncoin ecosystem.
Obviously, the growing popularity of Telegram base is increasing the demand for TON in October 2024.
Toncoin price prediction: Ton is set to regain $5 resistance
Toncoin (TON) is currently trading around $4.92, showing signs of recovery from the recent five-day slide in which the price fell by nearly 9.5%.
A closer look at the TONUSD daily chart of the Bollinger Bands and Detrended Price Oscillator (DPO) technical indicator shows that the TON price is poised to regain the $5 resistance level.
Bollinger Bands show that TON is currently trading below its 20-day SMA of $5.17 and recently tested the lower band of $4.91, indicating an oversold situation.
