Toncoin (TON), the native token of The Open Network, recently experienced a 12% price decline from its peak of $7.76, reflecting the broader market correction driven by Bitcoin’s (BTC) downturn. However, despite this setback, there's an air of optimism surrounding TON's future, with experts foreseeing a potential rebound surpassing its previous highs. Let’s delve into the factors contributing to Toncoin's potential resurgence.

Delphi Digital's observation indicates a significant milestone: TON's daily active addresses have surpassed Ethereum (ETH) for the first time. This surge is largely fueled by Telegram's massive user base of 900 million, crucial for TON’s distribution and widespread adoption.

Renowned crypto analyst “Crypto King” highlights TON’s robust blockchain and Telegram’s user base as potential catalysts for substantial price increases. He believes that TON's user-friendly blockchain, developed by the same team behind Telegram, could lead to significant growth, with predictions of TON hitting $10 in the near future.

Despite recent price dips, Token Terminal data suggests a bullish outlook for TON in the long term. While the fully diluted market cap has risen by 3.6% over the past month, the trading volume has decreased by 11.6%. However, the number of token holders has surged by 76.3%, indicating growing interest. Additionally, there have been significant revenue and fee increases of 26.0% each over the past 30 days.

Despite positive metrics, Toncoin's price has decreased by 3% over the last 30 days, settling at $6.82. Investors need to closely monitor the support level at $6.80 to prevent further declines. On the upside, the resistance level at $7.53 could lead to a potential re-test of TON’s all-time high.

In summary, Toncoin remains poised for growth despite recent price corrections. With an active user base, strong blockchain technology, and positive market indicators, TON holds potential for future gains. Investors should keep an eye on key support and resistance levels to navigate short-term fluctuations and seize long-term opportunities.