Toncoin price surged 9% on Friday in the U.S. Trading hours, defying the crypto market downturn. The lack of follow-up from Bitcoin after Thursday’s rally has raised concern over the market for another pullback before market recovery resumes. Will TON buyers follow this plan or continue the forward March?
Toncoin Price Hints a Potential Reversal
The cryptocurrency market showed a notable recovery this week as a relief rally/cool-off reaction to the July market correction. While the Bitcoin price rallied from $49600 to $62700— a 26% increase, the altcoin market picked up higher momentum.
This scenario is reflected in the Toncoin price upswing from $4.73 to $6.7, which records 42% growth, while the market cap boosts to $16.93 Billion.
Additionally, a significant increase in Total Value Locked (TVL) supports the TON price rally. According to data from DefiLlama, the TVL rebounded from $485 million to $625 million this week, marking a 28% rise. Such a rise typically indicates growing
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