Binance, the world's largest cryptocurrency trading platform, Toncoin launched (TON) on the Binance Launchpool today. The movement when it was first announced was a sign of the incoming momentum for TON, and the asset is expected to benefit from the latest listing. At the time of writing, The Open Network’s token is trading at $6.55, down around 6% in 24 hours. However, there are still hopefuls who predict that the asset’s price will rise in the coming week.
Currently, Toncoin (TON) price predictions are bullish, with investors rushing to the latest Binance listing. TON debuted on Binance with Bitcoin, USDT, FDUSD, and TRY trading pairs. The asset’s recent climb has set a realistic target of recovery to $7 this weekend.
Binance exchange also announced TON futures trading earlier this year. Specifically, it came in early March, as it’s been a huge year for The Open Network. In 2024 so far, Toncoin has already risen by a remarkable 170%. Still, many experts are predicting even more gains for the crypto.
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Can Toncoin (TON) Hit $7 Again This Weekend?
Toncoin failed to reach the $8 range last week as previous predictions had suggested. The token has slowed its growth over the past 48 hours, and is likely reaching a tough resistance level. TON briefly breached $7 on Wednesday, but has since fallen back to $6.50.
The drop could be due to hitting the $7 resistance level and a drop in trading volume. TV for TON is down 35.36% in 24 hours, and its market cap is also down 7%. Despite the bullish potential after the listing, Toncoin is underperforming and it may take some time for $7 to become a new standard. Moreover, $8 is also likely out of reach for the time being, but it may remain a potential level to reach by the end of August.
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It is crucial to research the TON coin further before making such an investment. Data about a coin rarely remains static and it is important to know that before buying. While bulls can drive TON higher over the weekend, there is always a chance that bears will do the opposite. Stay tuned to the TON Network social media for more updates about the token that can create bullish hype.