- Toncoin outperformed Bitcoin in 2024, with its TVL climbing to an all-time high
- TON has surged 144.52% over the past year
Although Toncoin (TON) is currently struggling to record a sustained uptrend on the charts, the altcoin has made significant gains throughout the year. On the annual charts, for example, TON soared 144.52% to trade at $5.38 at press time.
Simply put, it has become one of the best performing cryptocurrencies on the market during this period.
Source: CryptoQuant
That’s not all since according to CryptoQuant, Toncoin has even outperformed Bitcoin (BTC) in 2024.
Toncoin outperforms Bitcoin!
According to CryptoQuant’s analysis, TON outperformed Bitcoin throughout 2024, making the altcoin one of the few altcoins to outperform BTC in terms of performance.
While most altcoins have struggled to surpass Bitcoin’s returns in 2024, TON’s stellar performance has highlighted its unique momentum and adoption.
Source: Cryptoquant
As a result, this performance results from the growth of various aspects of the Toncoin ecosystem. Above all a considerable increase in total value locked (TVL).
Toncoin’s TVL has performed very well thanks to growing investor confidence in the TON ecosystem and an increase in staking and liquidity. Derivatives have also seen a sharp rise in the number of investors and capital inflows.
Source: CryptoQuant
Throughout the year, this activity reached its highest value ever in terms of transactions and users within the Toncoin ecosystem. The network has recorded more than 5 million users and 24 million transactions. Therefore, 2024 saw remarkable growth in the Toncoin ecosystem, further demonstrating the strength and usefulness of the ecosystem.
It is important to note that if this trend continues throughout 2025, Toncoin could establish itself as the leading blockchain of the future.
What are the implications for the price of TON?
As Toncoin’s ecosystem continues to grow, its native token TON has faced significant challenges. Over the past week, for example, TON has fallen 5.09% while falling 16.55% on the monthly charts.
However, despite the latest price drop, AMBCrypto analysis revealed that the downward trend has been exhausting. In fact, market sentiments might turn bullish now.
Source: In the block
For example, we can see this change as investors withdraw more from stock exchanges than they deposit into them. Net flows decreased to -882.49k.
The altcoin saw 2.35 million tonnes of outflows, compared to 1.47 million inflows. This suggests that investors have started accumulating altcoin.
This accumulation is also visible in whales. In fact, the supply held by whales reached 781,000 over the past week.
On the price charts, Toncoin’s Stoch and RVGI have all made a bullish crossover at press time. The cross on the Stoch appeared 48 hours ago, which corresponds to the strengthening uptrend of the past day.
Simply put, Toncoin could be well-positioned for a reversal to the upside once the downward pressure is exhausted. With positive market sentiment, TON could see a significant recovery. Therefore, if this sentiment persists, TON will recover $5.83. However, if the downtrend continues, it will drop to $5.
