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Toncoin (TON) Hits New All-Time High Unseating Cardano for Ninth Spot

Toncoin (TON), the popular cryptocurrency linked with the Telegram messaging app, hit its new all-time high shooting past $7 and unseating Cardano’s ADA for the ninth spot in the top-ten crypto list. Besides, Toncoin has also outperformed the rest of the altcoin space with 30% weekly gains.

As of now, Toncoin’s market cap stands at a staggering $23.6 billion while challenging its next immediate competitor Dogecoin (DOGE). However, the TON price has witnessed some pullback from $7 and is currently trading at $6.5 levels.

After a strong rally over the past week, crypto market analysts believe that Toncoin could enter a consolidation phase between $6.50 and $6.75. Crypto trader Paxton stated:

“Bulls need to break above resistance and reclaim $6.75 for a potential run. Bears watch for a break below support and a test of $6.50. Volume is key for direction!”

On the other hand, Cardano ( License.

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