The cryptocurrency market stayed stable over the weekend, with neither buyers nor sellers clearly in charge. After Bitcoin’s price stayed above the $60,000 support level, the prices of most major altcoins were slow all week, waiting for a clear sign that the trend was changing.
Toncoin (TON) trades on a slightly positive note despite this uncertainty. It is trying to break through the $7.60 barrier to get back on a bullish path.Even though the market went down in June, Toncoin kept going up. It went from a monthly low of $6.275 to a trade price of $7.68, a 22.5% rise.
Some of the most important things that led to this rise were more people using the network, more people adopting it, and the addition of Play-to-Earn games on Telegram.
Toncoin Whale Accumulation Surges
Recently, the Astana Financial Services Authority (AFSA) officially approved Toncoin (TON) for trading in Kazakhstan. This came after a thorough review that showed it met all the requirements set by regulators.
This addition should bring in a new group of institutional and individual investors by giving them safe and clear trading choices in the regulated setting of the Astana International Financial Center (AIFC).
Well-known trader Alicharts recently tweeted about a rise in Toncoin purchases, saying that whales have bought over 45 million TON, which is worth about $346.5 million, in the last week. This buildup shows that investors are very confident in this asset’s future potential.
DefiLlama data also shows that the Total Value Locked (TVL) on the Toncoin Network has continued to grow, hitting $700 million on Sunday. A big 113.41% rise in TVL in June shows that the network is growing quickly and is being used by more and more people in the market.
The TON price is going up, with a minor rise of 1.4% during the day. It will soon test the immediate support at $7.86. It’s possible for Toncoin to go above $8.28 and reach $9, then $10.5, if buyers can turn the upper resistance into good support.
But if supply pressure on the market stays high, the TON price could fall by 4–5% and look for support at the rising trendline that has been in place since the middle of March. This dynamic support gives buyers good places to stock up and stable higher-low patterns.
