TON Surpasses Bitcoin by 118%. What Drives the Network?

Following a number of agreements, the TON network outpaced Bitcoin by 118%, according to a new research that emphasizes bullish attitude surrounding the cryptocurrency.

Positive network advances and soaring on-chain transactions have led to TON’s outperformance compared to Bitcoin (BTC) and other crypto assets this year. The on-chain analytics company CryptoQuant has released a new report highlighting TON’s stellar performance, with its performers reaching new all-time highs for the year.

Trading Patterns Suggested by Analysts

This month, the Telegram-linked coin has continued to climb, causing analysts to make multiple estimates. One strategy that CryptoQuant analyst CQ Ben uses when investing in alternative cryptocurrencies is to look for projects that have good trends and value in USD and BTC.

Only two of the main layer 1 blockchains—TON and BNB—have significantly outperformed bitcoin so far in 2018. With Telegram’s network impact and TON’s relative strength vs bitcoin, I think it’s a crypto worth keeping an eye on during this bull run.

Factors Boosting TON’s Rise

Partnerships with the social media platform Telegram have led to an increase in the asset price and network performance. Pantera Capital, whose motivations are well-known, made an undisclosed investment in the network this month in response to its relationship with Telegram.

Pantera claims this sets TON up to grow into a larger crypto network by tapping into Telegram’s user base. There are more than 900 million active users and 36.7 million app downloads every month on the social media site.

There has been positive activity surrounding Toncoin and its network since the launch of Notcoin and its airdrop. The reason behind all the excitement is that the play-to-earn game was hosted on Telegram, a platform that is known to attract a large number of players. These tokens have been mined by about 34 million users.

Also Read: Toncoin (TON) Price Prediction 2024, 2025, 2030 – Will TON Hit $100?