New AI Platform Raises $7.2 Million as Toncoin Volume Soars Past $275 Million
The Toncoin ($TON) token underpinning The Open Network, a blockchain that was formerly part of Telegram, just hit an intraday high of $7.54 after being helped along by a sweltering 24-hour trading volume of $279 million.
In the last 24 hours, Toncoin rose about 2%, while adding around 3.5% to its price over the last seven days.
Toncoin’s current price is about 10% short of its all-time high (ATH) of $8.25 posted on June 15.
On July 2, The Open Network’s token came tantalizingly close to recapturing it as it hit $8.10, but nosedived swiftly back down, hitting a bottom of $6.52 on July 5.
Both these highs and lows have become new resistance/support levels for the token, as seen by the red and green trend lines on the chart below.
Toncoin’s small rally comes amidst a wider market surge that has seen market leader Bitcoin ($BTC) add 4% to its price over the last 24 hours to hit $62,461.
Bitcoin’s rebound from below $60k last week is catalyzed by an assassination attempt on Donald Trump, the 45th US President and the Republican candidate for the 2024 elections.
During his presidency, Trump kept his distance from crypto, calling it “not money” while taking an active stance against CBDCs.
I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….
— Donald J. Trump (@realDonaldTrump) July 12, 2019
However, the former President has since released his own NFTs while seemingly warming towards blockchain.
His new pro-crypto stance has earned him the vote from several key industry figures, including Kraken founder Jesse Powell, Gemini founders the Winklevoss
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