Toncoin, the native cryptocurrency of The Open Network, has recently achieved a significant milestone by reaching a fresh all-time high. This surge in price is attributed to various factors, including a golden-cross formation on its technical chart, strong on-chain data, and increased social metrics.

The golden-cross formation, which occurs when the 50-day moving average crosses the 200-day moving average, indicates a potential long-term uptrend for Toncoin. Additionally, the Relative Strength Index (RSI) is at 62, suggesting further room for upside movement before entering overbought territory.

On-chain data also suggests that the total number of Toncoin holders has increased, indicating confidence among investors. Moreover, the total value locked (TVL) on the Toncoin blockchain has reached nearly $1 billion, attracting more DeFi developers to the platform.

The surge in social metrics, including social volume and social dominance, precedes the market rally, indicating a strong grip by bulls on the current rally. Active Toncoin wallets have also surged from 1.28 million to over 8 million in 2024, showcasing the network's growth.

With a current market capitalization of $18.5 billion, Toncoin has become the ninth-largest cryptocurrency. The immediate resistance on the upside for Toncoin is $8.0, and once crossed, further bullish action could lead to a rally to $10 and beyond.

Overall, Toncoin's price surge is a result of a combination of technical, on-chain, and social metrics, making it an attractive option for investors. As the cryptocurrency market continues to evolve, it is essential to keep an eye on Toncoin's future prospects and potential growth.