Here’s Why Toncoin is Pumping as Exciting New Crypto ICO Nears Completion

The crypto market has seen yet another bullish uptick this week, with Toncoin (TON) experiencing a massive price surge since Monday.

Meanwhile, the buzzy new initial coin offering (ICO) for Bitcoin Minetrix (BTCMTX) is nearing completion, further fueling excitement across the space.

Toncoin (TON) Price Explodes 61% & Nears 2021’s All-Time High

Toncoin has been erupting over the past few days, with the coin surging a whopping 61%.

At the time of writing, TON is trading at $4.38 after repeatedly smashing through key resistance levels. This impressive rise has the crypto community buzzing on Twitter and other social platforms.

Toncoin’s (TON) rally has launched it to a $15.2 billion market cap, cementing its position as the 12^th largest crypto project globally.

While still 24% below its all-time high of $5.84 set back in November 2021, the momentum appears to be firmly on Toncoin’s side at the moment.

From a technical analysis standpoint, Toncoin’s (TON) price action has been extremely bullish.

The coin has cut through key moving averages like the 20-day SMA on the 4-hour chart.

TON’s RSI does indicate that it is now overbought. However, the sheer aggressiveness of the buying pressure seems to be overriding those traditional signals for now.

With this momentum showing no signs of slowing, many are questioning just how high TON can go.

Ad Platform Buzz & Whale Buys Supercharge Toncoin’s Rally

While technical momentum has played a role, a few key developments are propelling Toncoin’s ascent.

Firstly, on-chain data from Lookonchain revealed that a crypto whale dropped a staggering $858,000 earlier this week to scoop up over 209,000 Toncoin (TON) tokens at $4.10.

Whales accumulating such large amounts often precede further upside.

However, the buying frenzy also coincides with the buzz around the launch of Telegram’s highly-awaited ad platform. Moreover, the new ad platform is integrated with the TON blockchain.

Set to roll out this month, the platform allows Telegram channel owners to monetize their content by earning 50% of the ad revenue displayed on their channels.

Notably, all payments to creators will be made exclusively in TON, creating real utility for the coin.

This could create a positive feedback loop where content creators keep re-investing their TON earnings into growing their channels.

With hundreds of millions of active Telegram users, this ad platform integration has the potential to expose TON to a vast new user base, prompting a wave of demand from speculative investors in recent days.

Bitcoin Minetrix ICO Nears Massive $15m Target Amidst Stake-to-Mine Frenzy

Alongside Toncoin, another crypto project – Bitcoin Minetrix – is also generating massive buzz as its hotly anticipated ICO nears completion.

Bitcoin Minetrix has introduced a groundbreaking “Stake-to-Mine” mechanism on the Ethereum blockchain.

This allows users to earn actual Bitcoin rewards simply by staking the BTCMTX token, providing unprecedented accessibility to BTC mining without the usual barriers like costly equipment and technical know-how.

The tokenomics for this innovative platform are particularly appealing.

Of the 4 billion total supply, a sizable 42.5% allocation is towards powering the cloud mining operations that distribute BTC rewards to stakers.

Staking BTCMTX earns users unique “cloud mining credits.” The credits can be burned to create mining power and claim a share of the mining rewards.

From a security standpoint, Bitcoin Minetrix’s use of audited Ethereum smart contracts brings much-needed transparency to the murky cloud mining space.

All mining payouts occur on the blockchain, eliminating a significant portion of the risk.