Toncoin (TON) has experienced significant growth over the past year, rising over 200% and is currently trading above $6.36 with a slight gain of over 2% in the last 24 hours. Toncoin boasts a market capitalization of $22 billion and is firmly entrenched in the top 8 cryptocurrencies.

The Total Value Locked (TVL) in TON has reached over $218 million, an indicator that is the most important indicator of adoption and use of the cryptocurrency in the ecosystem. The increase in TVL means that more users are locking up their assets on the TON network, demonstrating confidence in its potential and stability.

TVL's rapid growth highlights the effectiveness of TON's integration with Telegram. The app's large user base provides fertile ground for wider adoption of Toncoin and related apps. As Telegram continues to expand its services and reach, TON is likely to benefit from this growth, further strengthening its position in the market.

Toncoin has seen significant growth in the number of active addresses, increasing by over 110% over the past six months. This metric indicates active user engagement and suggests a healthy and active network. The increase in the number of active addresses is a positive sign, reflecting growing interest and participation in the TON ecosystem.

The daily number of addresses participating in Toncoin (TON) transactions has decreased significantly. That number has dropped 40% in the last seven days, according to network data provider Santiment. At the same time, the creation of new addresses for TON trading has decreased by 53% since May 16.

Average coin age is a blockchain metric that estimates the average age of all coins, taking into account the length of time each coin has been at its current address. This metric helps understand the behavior of long-term holders and the overall stability of the network. An increase in the average age of coins indicates that investors are holding onto their holdings, while a decrease suggests that supply is moving to different addresses.

Since February, Toncoin has seen a decline in the average age of coins, indicating a change in the behavior of TON holders. Despite this, broader market signals have managed to keep Toncoin's price afloat.

Can TonCoin exceed $9?

Technical analysis on TradingView shows that Toncoin is facing resistance from the simple moving average (SMA) on the 1-day time frame. This resistance signifies growing bearish sentiment in the cryptocurrency market, which adds weight to Toncoin's negative price outlook. 

TON faces vital resistance levels at $6.52 and $7.23, with support at $6.00 and $5.56. The potential for upward momentum with a bullish outlook suggests the possibility of reaching $8 and above, potentially surpassing previous all-time highs and reaching $9.