Toncoin Analysis: TON Sets Sight at $2.40 as It Sees Its Biggest Daily Gain

Toncoin is gradually edging towards being the top gainer over the last 24 hours. It kicked off trading at $1.91 and enjoyed massive bullish action that saw it break several key resistances. Currently up by more than 16%, this is also the biggest single-day surge it ever had since its introduction to the market.

Coin tracking platform Coinstats offers a good insight into what transpired over the last 24 hours. The climb to the current price of $2.20 was steady but fast one. Following its low at $1.89 a few earlier in the day, the asset rebounded and has enjoyed a steady increase.

Toncoin Sees a 37% Increase in Trading Volume

Away from prices, the trading volume gives one of the many reasons for the most recent state of the coin. The 24-hour trading volume is up by more than 37% with most of it as fresh investment for TON. Nonetheless, it is clear that fundamentals played a huge role in the current surge.

Recall that the asset under consideration is built on the social media platform Telegram. At the time of writing, the campaign to get users to buy the coin is ongoing. The social media giant currently has dedicated channels to this effect.

While many worry about when the most recent uptrend will stop, the charts are blaring warnings.

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