Is TON the Solana Killer? Price Up 8% as Momentum Builds
Toncoin (TON) has gone up by 2.5% in the past 24 hours and has managed to overturn its downtrend for now and defy the market’s gravity today as most crypto assets are dropping sharply.
Trading volumes for TON have gone up by 82.2% during this same period to stand at $399 million, a figure that accounts for only 4% of the token’s circulating market cap.
Telegram users can pay for in-app purchases and services with TON – which is the only accepted cryptocurrency within the Telegram ecosystem.
Theoretically, Ton is faster than Solana (SOL) as it can process 104,715 transactions per second (TPS) while the latter has a theoretical limit of 65,000 TPS.
Meanwhile, Ton’s basic transaction fee currently stands at 0.0025 TON or $0.01 at current prices. Solana fees may be lower in some cases at around $0.0024 but they can also rise during peak usage times to around $0.048.
Despite Ton’s rising popularity and robust architecture, its DeFi ecosystem is nowhere near that of Solana. Data from DeFi Llama indicates that the total value locked (TVL) within Ton apps currently stands at $180 million.
It seems unlikely that Ton will dethrone Solana for the time being unless it manages to attract a significant number of developers to its ecosystem.
Ton Has a Long Way to Go to Beat Solana But Its Price Could Still Rise by Another 34%
The latest spike in the price of TON could result in significant short-term gains to token holders as it managed to break a long-dated downtrend.
The daily chart shows that TON’s positive momentum pushed it above the $4 resistance yesterday while the price action during the Asian session today has managed to keep the token above this important level.
TON could rise by 33.4% over the next few days if late buyers decide to enter at this point. The MACD’s histogram shows that positive momentum picked up again after stalling for a few days while the Relative Strength Index (RSI) is still standing above the signal line.
As cryptos recover and become an important part of investors’ portfolios, choosing the most secure and versatile crypto wallet is an important decision to make.
Best Wallet (BEST) Raises $11.4M To Launch its Next-Gen Crypto Storage Solution
Best Wallet (BEST) is an innovative storage solution for cryptocurrencies that was launched in December last year. This wallet is available for mobile phones powered by Android or iOS and has received a 4.5 stars rating by early adopters.
Among its most innovative features, a tool called Upcoming Tokens allows investors to identify promising crypto presales like MIND of Pepe (MIND) while they are still flying below investors’ radars.
At its discounted presale price of $0.0245, BEST holders are positioned favorably to reap the highest returns once the token is listed on exchanges. BEST will be the utility token of this crypto wallet as it will be used to settle transactions and pay for in-app services.
To buy $BEST, simply head to the Best Wallet website and connect your wallet. You can download the Best Wallet app and store your tokens there as well. To complete your investment, you can either swap USDT or ETH or use a bank card.
