Toncoin price plunged 0.64% during the Asian market session, currently trading at $5.81. The modest downtick followed the broader market pullback, trying to stabilize after last week\u2019s rally. With the increasingly popular Telegram airdrops, the TON price holds the potential for share recovery. Is it enough to hit All Time High (ATH)?<\/p>\n
Can Toncoin Reach a New ATH as Airdrop Frenzy Takes Over?<\/strong><\/h2>\nAccording to CryptoQuant Analyst Maartunn, the Open Network (TON) is rapidly solidifying its position among the top Layer 1 -cryptocurrencies<\/a> amid the Airdrop Mania.<\/p>\n<\/p>\n
The Toncoin network captured over 50% of all Layer 1 transactions over the past month, a testament to its growing popularity and robust infrastructure.<\/span><\/p>\nTON\u2019s ecosystem is likely bolstered by multiple token launches, attracting more users. Key contributors include:<\/span><\/p>\n\n- DOGS hit 28 million monthly active users (MAU) on August 28, 2024.<\/span><\/li>\n
- CatizenAI and Rocky Rabbit reached 18 million MAU on September 20, 2024.<\/span><\/li>\n
- Watbird achieved 12 million MAU on September 23, 2024.<\/span><\/li>\n
- Hamster Kombat Airdrop<\/a> led to 110 million MAU on September 26, 2024<\/span><\/li>\n<\/ul>\n
\nThe Open Network (#TON<\/a>) is emerging as a leading Layer-1 solution<\/p>\n\u201cIn the past month\u2026 $TON<\/a> captured over 50% of all Layer 1 transactions during this period, largely driven by several major token launches.\u201d \u2013 By @JA_Maartun<\/a><\/p>\nRead more \ud83d\udc47https:\/\/t.co\/0Er9EerVrc<\/a> pic.twitter.com\/hEI4feAwnM<\/a><\/p>\n\u2014 CryptoQuant.com (@cryptoquant_com) September 30, 2024<\/a><\/p>\n<\/blockquote>\n<\/p>\n
The Intotheblock<\/a> accentuated the growth in network activity as the number of transactions metric spiked to a 15.49 Million high on Friday.<\/span><\/p>\n![\"Toncoin](\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/09\/ITB_ton_number_of_transactions_ton_2024-09-30T10_22_47.758Z.png\")
Number of Transactions | Intotheblock<\/figcaption><\/figure>\nIn October, Telegram will launch a few more prominent airdrops, such as X Empire, Major, and MemeFi, which could further boost the network activity and drive demand for Toncoin.<\/span><\/p>\nTON Price Hints Major Reversal From Multi-Month Resistance<\/strong><\/h2>\n
<\/p>\n
The Toncoin network captured over 50% of all Layer 1 transactions over the past month, a testament to its growing popularity and robust infrastructure.<\/span><\/p>\n TON\u2019s ecosystem is likely bolstered by multiple token launches, attracting more users. Key contributors include:<\/span><\/p>\n The Open Network (#TON<\/a>) is emerging as a leading Layer-1 solution<\/p>\n \u201cIn the past month\u2026 $TON<\/a> captured over 50% of all Layer 1 transactions during this period, largely driven by several major token launches.\u201d \u2013 By @JA_Maartun<\/a><\/p>\n Read more \ud83d\udc47https:\/\/t.co\/0Er9EerVrc<\/a> pic.twitter.com\/hEI4feAwnM<\/a><\/p>\n \u2014 CryptoQuant.com (@cryptoquant_com) September 30, 2024<\/a><\/p>\n<\/blockquote>\n <\/p>\n The Intotheblock<\/a> accentuated the growth in network activity as the number of transactions metric spiked to a 15.49 Million high on Friday.<\/span><\/p>\n In October, Telegram will launch a few more prominent airdrops, such as X Empire, Major, and MemeFi, which could further boost the network activity and drive demand for Toncoin.<\/span><\/p>\n\n
\n
TON Price Hints Major Reversal From Multi-Month Resistance<\/strong><\/h2>\n
![\"Toncoin](\"https:\/\/s3.tradingview.com\/snapshots\/r\/R5qNMroN.png\")
![\"coingape\"](\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\"){kind=logo}
![\"\"](\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&d=mm&r=g\")