Toncoin announced on Twitter yesterday that USDT integration on TON Network has ‘never been easier’. They stated, “By leveraging key infrastructure providers like MPC wallet providers, custodians, and RPC solutions, we’re enhancing the security, efficiency, and seamlessness of transactions.”
Multi-Party Computation (MPC) wallet providers are key for securing digital assets while keeping them accessible. They use advanced crypto techniques to spread private keys among multiple parties, boosting security without making things harder to use. For exchanges adding USDt-TON, MPC wallet solutions protect against potential threats while allowing efficient management of digital assets.
You can read more details about this news on Toncoin’s blog post.
TON Price Analysis
The TON price responded positively to this news and the broader market recovery today, rising over 6% and now trading around $6.67.
Last week, we reported that Binance listed TON on August 8th, which propelled the price from $5.3 to $6.3 within minutes.
Despite these developments, the TON price is still trading in a sideways channel between $4.7 and $8.2, a pattern that has persisted since March. A sideways channel occurs when an asset’s price fluctuates between consistent support and resistance levels over an extended period.
The $5.3 level has emerged as strong support, having held firm during the market crash earlier this month and now aligning with the 200-day moving average.
Toncoin now faces big significant resistance levels: around $8, which coincides with the 2024 yearly high, and the $10 mark, a major psychological level.
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Show more +Even though Toncoin continues to make developments, breaking the $10 barrier would likely require support from the broader crypto market, particularly Bitcoin. For instance, TON might approach $10 when Bitcoin’s price surpasses its all-time high of $73,000, but it’s unlikely to happen before then.
Read also: These Four Bullish Factors Indicate Kaspa (KAS) Price ‘Will Explode Soon’
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