TON Crypto Price Analysis, Will It Soar After Reaching 1 Billion Transactions?

Bittime – TON crypto price analysis is expected to surge with larger transactions. This is because the TON network has recently become one of the most famous blockchains due to the boom in tap-to-earn games.

This open network is the right choice for projects that want to launch tap-tap games on the Telegram application.

However, this popularity is not without obstacles. As you know, the TON blockchain was down for 6 hours last week.

Despite facing these challenges, Toncoin managed to soar drastically and provide huge profits for investors. Let's take a closer look at Toncoin's potential to skyrocket.

Milestone of 1 Billion TON Transactions

The TON Network recently crossed a major milestone by completing 1 billion transactions. August 29 will always be a historic moment for this blockchain.

Exactly a day after the network was frozen, the TON blockchain experienced a high spike in wallet creation and transactions.

On August 27th, the DOGS airdrop started and users were so enthusiastic that they sent millions of transactions causing network congestion on August 28th.

This traffic jam lasted for 6 hours. The next day, the TON network recorded a milestone of 1 billion transactions.

Data from tonstats shows a continued increase in on-chain activity for the network.

The total number of new wallets created reached 14.39 Million on August 29 from 11.65 Million on August 2. Every day, more than 100,000 new wallets are activated and more than 600,000 wallets carry out daily transactions.

Source: Tonstat

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Updates on TON Wallet

Ton Core and Tonkeeper introduced the W5 smart wallet standard last month. It facilitates gasless transactions on the TON blockchain using USDT as a transaction fee.

This is an additional reason for the spike in transactions on the network. The number of active addresses on the blockchain has reached around 50 million with an adoption rate above 45%.

Most of these addresses and transactions were due to token airdrops on The Open Network.

TON Price Today

Summer: Bittime

At the time of writing this article, TON was trading at $4.9848 or around IDR77,527 with a decline of -3.37%. This price is certainly much lower than the ATH TON in last June which was at the figure $8,288.

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The Future of TON

All data from various sources shows one thing, namely that the TON blockchain is gaining great traction from the crypto community.

The daily increase in wallets and transactions is proof that the community is very interested in this blockchain considering the boom in tap-to-earn games, airdrops, and gasless transactions.

Since this blockchain fulfills the needs of not only the community but also the developers, it would not be wrong to say that this coin has the potential to become unstoppable.

However, it is important to note that technical analysis is not a definitive price prediction. Always do your own research before making an investment decision.

Supporting Factors for TON Price Increases

Apart from reaching 1 billion transactions, several other factors could support Toncoin price increases in the future:

1. Increased Use of DApps: The more decentralized applications (DApps) built on the TON network, the higher the demand for TON tokens. This can push prices up.
2. Increased Adoption Outside the Crypto Community: If TON can attract the attention of institutional investors and mainstream users, this could increase demand for the TON token and drive the price up.
3. Technological Development: The development of new technology and innovation in the TON network can increase efficiency and add value for users, which in turn can increase demand for TON tokens.

Risks and Challenges for TON

Although the potential for Toncoin price increases is quite large, there are also several risks and challenges to consider:

1. Market Volatility: The cryptocurrency market is known for its high volatility. The price of Toncoin can experience significant fluctuations over a short period of time.
2. Competition: TON competes with many other blockchains that also offer similar solutions. If competing blockchains offer greater added value or lower fees, this could reduce demand for TON.
3. Regulations: Changes in government regulations on cryptocurrencies may affect the price of TON.

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Conclusion

The prospect of Toncoin price increases is indeed promising. However, it is important to remember that investing in cryptocurrency always carries risks. Always conduct thorough fundamental and technical research and analysis before investing.

How to Buy Crypto on Bittime

You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of Indonesia's best crypto applications, officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study Complete Guide How to Buy Crypto on Bittime. 

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