Toncoin has defied the general crypto market sentiment as its value continues to development higher. In response to CoinMarketCap information, the TON blockchain’s native token has gained over 20% over the previous seven days. Nonetheless, the token has skilled excessive volatility over the previous 24 hours. And never simply on the final day.

Earlier this week, fashionable {hardware} pockets SafePal introduced assist for the TON blockchain and its native forex, TON. In response to that weblog entry On its official website, {hardware} pockets supplier will add Toncoin to its record of supported cryptocurrencies earlier than the tip of 2022. This implies customers can now securely retailer their cryptocurrency holdings utilizing the SafePal system.

The TON neighborhood was additionally optimistic after the launch of Telegram’s username public sale service. To date, customers have proven nice curiosity in shopping for names like “alfa”, “dogecoin” and “amazon”. The public sale service was launched by the corporate earlier this month. It permits customers to purchase or sell distinctive TON primarily based usernames.

SafePal will assist Toncoin till the tip of 2022, Token rises then crashes

SafePal introduced plans so as to add assist for the TON blockchain’s native forex, Toncoin, by the tip of 2022. The announcement was formally made on November seventeenth Twitter web page and website. In response to the submit, SafePal would be the first chilly pockets to assist the native token. It was additionally talked about that it will present offline storage for the token. Moreover, SafePal mentioned it will enable customers to ship and obtain Toncoins from some other pockets.

The mixing was prompted by current curiosity within the TON blockchain. In response to the weblog submit, the combination may also be applied into SafePal’s software program pockets providing. Nonetheless, they didn’t specify a date when the characteristic can be obtainable. It was solely talked about that it will be launched earlier than the tip of This autumn 2022.

After the November 17 announcement, the value of Toncoin began to extend. It rose practically 8% from $1.69 to $1.82 earlier than retreating for the day. Nonetheless, the surge did not final effectively sufficient the following day as the value dropped. Fortunately, the drop wasn’t extreme and the token nonetheless bounced again to proceed its rally.

Toncoin worth is at present trading at $1.42. | Supply: TONUSD worth chart from TradingView.com

Toncoin evaluation – the place the token’s journey is headed

Regardless of swinging between highs and lows at press time, the TON token has been steadily rising for the reason that begin of this week. The general crypto market sentiment has been bearish, however the TON token has bucked the development. It’s at present trading round $1.78, up over 11% within the final 7 days.

Nonetheless, the token hasn’t fared too effectively when it comes to trading quantity. Within the final 24 hours, exercise has slowed by over 50%. Whereas not alarming, this does recommend that merchants could also be slowing down within the Telegram username auctions. However that hasn’t stopped the value of the token from growing. Within the coming days, it stays to be seen whether or not the token will keep its present momentum.

Featured picture from Pixabay and chart from TradingView.com