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When will it hit $10?
Toncoin, a leading crypto token, surged 13% after Pantera Capital, a well-known financial firm, announced its plan to invest in Ton. The token is particularly known for its extensive integration with Telegram, a popular messaging app, which has used Ton to strengthen its advertising vertical.
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Pantera Capital invests in Toncoin
Toncoin, a promising cryptocurrency token, has received a investment from Pantera Capital, a leading venture capital firm focused on digital assets. In the latest announcement, Pantera Capital shared how it will invest in Toncoin with the intent of introducing cryptocurrencies to the masses. The company will leverage the token’s ability to integrate seamlessly with Telegram, a messaging app that hosts 900 million monthly users.
The platform shared how Toncoin has the potential to become one of the largest crypto tokens. The company reiterated that Ton’s open network capabilities, combined with easy scalability, compelled Pantera to invest in the token.
“We believe TON has the ability to introduce cryptocurrencies to the masses. It is because it is widely used within the Telegram network. Leveraging Telegram’s large user base and seamless UX with the vibrancy of TON’s emerging ecosystem. We believe that TON has the potential to become one of the largest crypto networks.
Toncoin forecast for May 2024
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After Pantera Capital announced its plan for TON, Toncoin reacted sharply to the news, surging nearly 13% in the last 24 hours. The token is currently trading at $5, with the possibility of it breaking out to a new price high soon.
Technical parameters could support Toncoin’s rally considering a shift in its potential recognized by leading institutions like Pantera.
Second CoinCodex, Toncoin could surge 200% to cross the $10 mark in May. The platform expects Ton to trade at $17 by the end of May 2024.
“TToncoin price is expected to increase by 229.54% and reach $17.20 by June 1, 2024. According to our technical indicators, the current sentiment is neutral, while the Fear & Greed index shows 43 (fear). Toncoin has recorded 13/30 (43%) green days with a price volatility of 11.04% over the last 30 days.