{"id":640055,"date":"2024-09-01T13:30:04","date_gmt":"2024-09-01T13:30:04","guid":{"rendered":"https:\/\/www.shenyangcang.com\/?p=640055"},"modified":"2024-09-05T13:49:18","modified_gmt":"2024-09-05T13:49:18","slug":"toncoin-ton-slips-17-despite-positive-on-chain-upgrade","status":"publish","type":"post","link":"https:\/\/www.shenyangcang.com\/news\/toncoin-ton-slips-17-despite-positive-on-chain-upgrade\/","title":{"rendered":"Toncoin (TON) Slips 17% Despite Positive On-Chain Upgrade"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Toncoin (TON) continues to freefall despite the market\u2019s attempted rebound. According to <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/toncoin\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">CoinGecko<\/span><\/a><span style=\"font-weight: 400\">, TON fell by 17%, driven by the overwhelming bearish sentiment that plagues the market. The movement came despite on-chain developments hinting at a bigger investor outreach in the long term.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.shenyangcang.com\/news\/monero-xmr-unfazed-by-market-jitters-climbs-13-details\/\" target=\"_blank\" rel=\"noopener \">Monero (XMR) Unfazed By Market Jitters, Climbs 13% \u2013 Details<\/a><\/div>\n<p><span style=\"font-weight: 400\">Positive on-chain events will tend to exert a favorable effect on the performance of the token. However, the general gloomy sentiment overtakes them. In the near run, traders and investors may have to prepare for more suffering.<\/span><\/p>\n<h2><strong>Binance Adds Toncoin On Earn Program, New Ventures Drive Investor Interest<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">The official Toncoin X account <\/span><a href=\"https:\/\/x.com\/ton_blockchain\/status\/05861037\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">revealed<\/span><\/a><span style=\"font-weight: 400\"> that TON has been added to Binance\u2019s Simple Earn Program, a simple but flexible way for users of the platform to stake their crypto for passive income. As of press time, TON\u2019s addition to the program yields a 5.9% annual percentage rate (APR) as a promo to users who stake their token on Tuesday, September 3, up until September 23.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This simple addition to Binance&#8217;s staking platform is great news for the TON, as this will drive investor interest in the token. Adding to the bullishness is the <\/span><a href=\"https:\/\/x.com\/ton_blockchain\/status\/29317644\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">newly launched<\/span><\/a><span style=\"font-weight: 400\"> TON: Acc Incubator and TON: Acc Portal are supported by Toncoin&#8217;s TON Ventures. <\/span><\/p>\n<p><span style=\"font-weight: 400\">The program will support five start-ups building on the platform, offering the selected ones 3 months of growth, funds, and expertise. According to an official announcement <\/span><a href=\"https:\/\/blog.ton.org\/ton-accelerator-launches-25million-ton-acc-incubator-and-ton-acc-portal\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">blog post<\/span><\/a><span style=\"font-weight: 400\">, this first cohort of startups will be invested in up to $2.5 million to &#8220;accelerate their growth.&#8221;<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cProjects building on TON have an audience of 950 million ready and waiting to engage with their product. <\/span><span style=\"font-weight: 400\">TON:Acc will help projects find a clear route to market, providing them with the funding, expertise, and support they need to become the next billion-dollar project on TON,\u201d stated by Sophia Rusconi, Head of Ton Accelerator, in the blog.\u00a0<\/span><\/p>\n<figure style=\"width: 1835px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/OpOroiaF\/\" width=\"1835\" height=\"883\"><figcaption class=\"wp-caption-text\">TON market cap currently at $11.8 billion. Chart: <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">The program aims to use Telegram, a secure messaging service, as a distribution platform as the platform saw user interest on tap-to-earn applications on Telegram. <\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\">\u201cWe are deeply convinced that this is simply the first phase of the TON ecosystem&#8217;s growth, and we are incredibly excited to shepherd the next evolution of TON-based mini-apps that will bring real-world utility into Telegram&#8217;s Web3 ecosystem,\u201d said Ian W, Managing Partner of Ton Ventures.<\/span><\/p>\n<h2><strong>Downturn Rejected On Crucial Support Level\u00a0<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">As of writing, TON\u2019s downward trajectory has been rejected by the $4.5 support level, giving TON bulls some wiggle room to reverse some of the token\u2019s downward momentum. However, its increasing correlation with BTC might be a double-edged sword for the token.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.shenyangcang.com\/news\/investors-lose-sight-of-matic-as-it-drops-16-ahead-of-network-upgrade\/\" target=\"_blank\" rel=\"noopener \">Investors Lose Sight Of MATIC As It Drops 16% Ahead Of Network Upgrade<\/a><\/div>\n<p><span style=\"font-weight: 400\">\u00a0<\/span><span style=\"font-weight: 400\">The token\u2019s relative strength index (RSI) reveals that TON is completely overwhelmed by the bears. If this bearish sentiment continues, on-chain developments will not reverse the token\u2019s fast descent. Investors and traders should continue to monitor the broader market\u2019s movement before making a major decision.\u00a0<\/span><\/p>\n<p><em>Featured image from Pexels, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Toncoin (TON) continues to freefall despite the market\u2019s attempted rebound. According to CoinGecko, TON fell by 17%, driven by the overwhelming bearish sentiment that plagues the market. The movement came despite on-chain developments hinting at a bigger investor outreach in the long term.\u00a0 Related Reading: Monero (XMR) Unfazed By Market Jitters, Climbs 13% \u2013 Details Positive on-chain events will tend to exert a favorable effect on the performance of the token. However, the general gloomy sentiment overtakes them. In the near run, traders and investors may have to prepare for more suffering. Binance Adds Toncoin On Earn Program, New Ventures Drive Investor Interest The official Toncoin X account revealed that TON has been added to Binance\u2019s Simple Earn Program, a simple but flexible way for users of the platform to stake their crypto for passive income. As of press time, TON\u2019s addition to the program yields a 5.9% annual percentage rate (APR) as a promo to users who stake their token on Tuesday, September 3, up until September 23.\u00a0 This simple addition to Binance&#8217;s staking platform is great news for the TON, as this will drive investor interest in the token. Adding to the bullishness is the newly launched TON: Acc Incubator and TON: Acc Portal are supported by Toncoin&#8217;s TON Ventures. The program will support five start-ups building on the platform, offering the selected ones 3 months of growth, funds, and expertise. According to an official announcement blog post, this first cohort of startups will be invested in up to $2.5 million to &#8220;accelerate their growth.&#8221; \u201cProjects building on TON have an audience of 950 million ready and waiting to engage with their product. TON:Acc will help projects find a clear route to market, providing them with the funding, expertise, and support they need to become the next billion-dollar project on TON,\u201d stated by Sophia Rusconi, Head of Ton Accelerator, in the blog.\u00a0 The program aims to use Telegram, a secure messaging service, as a distribution platform as the platform saw user interest on tap-to-earn applications on Telegram. \u201cWe are deeply convinced that this is simply the first phase of the TON ecosystem&#8217;s growth, and we are incredibly excited to shepherd the next evolution of TON-based mini-apps that will bring real-world utility into Telegram&#8217;s Web3 ecosystem,\u201d said Ian W, Managing Partner of Ton Ventures. Downturn Rejected On Crucial Support Level\u00a0 As of writing, TON\u2019s downward trajectory has been rejected by the $4.5 support level, giving TON bulls some wiggle room to reverse some of the token\u2019s downward momentum. However, its increasing correlation with BTC might be a double-edged sword for the token.\u00a0 Related Reading: Investors Lose Sight Of MATIC As It Drops 16% Ahead Of Network Upgrade \u00a0The token\u2019s relative strength index (RSI) reveals that TON is completely overwhelmed by the bears. If this bearish sentiment continues, on-chain developments will not reverse the token\u2019s fast descent. Investors and traders should continue to monitor the broader market\u2019s movement before making a major decision.\u00a0 Featured image from Pexels, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":640066,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,1020,6664,12143,87713,84673],"class_list":["post-640055","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-blockchain","tag-crypto","tag-ton","tag-toncoin","tag-web3"],"acf":[],"yoast_head":"\n<title>Toncoin (TON) Slips 17% Despite Positive On-Chain Upgrade<\/title>\n<meta name=\"description\" content=\"Toncoin (TON) continues to freefall despite the market\u2019s attempted rebound. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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