TON (Toncoin) rose 3.45% in the last 24 hours.

Gate News Bot news, on July 7, according to CoinMarketCap data, as of the time of writing, TON (Toncoin) is currently priced at $2.83, with a 3.45% rise in the last 24 hours, reaching a high of $3.05 and a low of $2.72. The 24-hour volume has reached $749 million. The current market capitalization is approximately $6.997 billion, an increase of $234 million compared to yesterday.

The Open Network (TON) is a fast, secure, and scalable blockchain and network project that can handle millions of transactions per second and is friendly to both users and service providers. TON is designed to support all reasonably proposed and envisioned applications. TON can be viewed as a massive distributed supercomputer, or more accurately, a huge super server aimed at hosting and providing various services.

Important news about TON recently:

1️⃣ TON Reaches Important Cooperation with the UAE The TON Foundation has partnered with the UAE to offer 10-year golden visas to TON stakers. This initiative greatly enhances the international influence and practical value of TON, and is expected to attract more long-term investors and high-net-worth users to join the TON ecosystem.

2️⃣ First Unicorn Born in the TON Ecosystem The Open Platform, the developer of TON, has completed a $28 million Series A financing round with a valuation of $1 billion, becoming the first crypto unicorn in the Telegram blockchain ecosystem. TOP focuses on developing key infrastructure and tools for the TON ecosystem, including the built-in crypto wallet in Telegram, the TON Connect protocol, etc., which will further promote the technological development and application implementation of TON.

3️⃣ TON Network Staking Data Shines Currently, 840 million TON have been staked on the TON network, accounting for 34.05% of the circulating supply, with a staking APY of 4.8%. The high staking ratio reflects investor confidence in the TON network, while also reducing the market circulation, which is beneficial for price stability.

From a technical perspective, the price of TON is currently fluctuating narrowly between 2.70 and 2.80 US dollars, with the RSI indicator at 39, indicating that buyers may be waiting to enter at lower levels. If the resistance level of 2.80 US dollars is broken, it may initiate upward momentum, targeting 3.00 US dollars or even 3.40 US dollars.

This message should not be taken as investment advice; investors should be aware of market volatility risks.