Toncoin has increased by 12% in the last day, maintaining its position as the ninth-largest cryptocurrency.

Investment firm Pantera Capital has revealed its investment in the TON Network, but the exact amount remains undisclosed.

The TON Network, linked to Telegram, has seen a significant growth of 1182% in total value locked (TVL) during Q1 2024 - from $13.79 million in January to $176.87 million currently. The ecosystem has shown an increase in various metrics recently, including the number of wallets.

The launch of The Open League, integration of stablecoin Tether (USDT), and other incentives such as airdrops in April have contributed to the growth of the ecosystem. According to Santiment, the number of wallets in the network has risen by 110% in the last six months to 16.8K wallets.

In April, there was a 90% increase in smart contract deployments on TON, indicating higher developers' activity. To date, over 300 projects have been deployed on TON, with many being applications linked to Telegram, a messaging platform with 900 million monthly active users.

Toncoin, the native token, has risen by 12% in the past day, reaching around $5. This increase followed the announcement of Pantera Capital's investment in the TON ecosystem. It is now time to analyze how the token performs in the market.

Will TON maintain its positive trend or face a correction? In April, Toncoin reached an all-time high of $7.65 but then dropped to $4.6. The recent price rise has brought it back to the $5.3 range. It remains to be seen if it will continue to rise.

Looking at the daily price chart of Toncoin, indicators suggest a potentially bullish outlook. The Relative Strength Index (RSI) is close to neutral, while the Chaikin Money Flow (CMF) oscillator is below 0, indicating a decline in money flow.

According to data from CoinMarketCap, Toncoin is currently trading at $5.38 with a 24-hour trading volume of $233 million. There are over 3.47 billion TON in circulation, with a market cap of $18.7 billion.