The price of Toncoin (TON) has remained under pressure while other cryptocurrencies have experienced a rebound. Despite this, on-chain data for the TON Blockchain has shown improvements, with daily on-chain wallet activations and the amount of fees collected in the TON ecosystem increasing. The number of TON tokens burned each day has also risen, while the number of minted tokens has dropped. Popular tokens within the TON ecosystem have experienced significant price declines. Crypto analysts remain bullish on the TON price, citing low volatility and the Normalized Risk Metric nearing a low-risk period as indicators for potential market reversals and price swings. The daily chart for Toncoin shows the formation of a symmetrical triangle, with the possibility of a bullish breakout in the future. If this occurs, the initial target would be its all-time high of $8.30.



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