Toncoin and Binance Coin hit new ATH, Bitcoin remains above $71k

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Last Updated on 6 June 2024 by CryptoTips.eu

There are three altcoins that are making major strides in the top 10 of CoinMarketCap this year: Solana, Binance Coin and Toncoin.

That last one, the official digital currency of the social media platform Telegram, reached a new All Time High yesterday. Analysts think it could rise to $10 before the end of the year. That would mean another gain of some 50%.

Bitcoin, meanwhile, remains well above $71k. Are there still so many sell orders around the record $74k mark or is the largest digital currency waiting for new economic data to get a final boost that will push it to $80k?

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Toncoin

In the last six months alone, Toncoin’s price climbed from $2 to $7, an incredible gain for Telegram’s official coin. The rise was partly due to the switch of many Asians from WhatsApp, the messaging app of Meta, (a company seen as too ‘Western’ by the Chinese government and media) to Telegram.

Furthermore, the terrorist attack on a theater in Moscow in March of this year (as gruesome as it was) actually meant good news for Toncoin. The images of that attack were eagerly shared on Telegram for days, boosting its name recognition and it’s future role as a possible contender for WhatsApp.

Analysts think that Toncoin will rise along with Bitcoin if the latter hits a new record. The price target for Toncoin has been adjusted by analysts to hit $10 by the end of the year.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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