TON Price Prediction: On-chain data reveals new capital getting on board, funding rate is bullish, target $3.68

Against the backdrop of a nearly 3% decline in today's crypto assets market, Telegram's ecosystem token Toncoin (TON) has risen slightly by 1%, becoming the market's top gainer. On-chain data shows strong support: new demand surged by 38% in the past 7 days, and daily active addresses increased by 51%, indicating continuous capital inflow and deepening user engagement. The funding rate for perpetual futures remains positive (0.0057%), reflecting bullish sentiment in the futures market. If buying momentum continues, TON is expected to break through $3.49 resistance and reach $3.68; if momentum weakens, it may fall back to $3.23 support level.

The market is broadly down, TON shows resilience with a slight rise against the trend The Telegram ecosystem token Toncoin (TON) has become a highlight of today's market fluctuations, recording a moderate rise of 1% in the past 24 hours. This stands in stark contrast to the broader crypto assets market, which saw a nearly 3% decline in total global cryptocurrency market capitalization during the same period, with most mainstream assets in a downtrend (Trading in the Red). However, TON has shown resilience against falling prices, with on-chain data revealing a continuous accumulation trend behind it.

On-chain data shines: new capital influx, activity soars On-chain analysis clearly shows that TON network activity is exhibiting a steady rise, indicating that the demand for this asset is growing.

(TON Network Activity | Source: IntoTheBlock)

1. New demand surged by 38%: According to IntoTheBlock data, new demand for TON skyrocketed by 38% in the past 7 days. The new demand metric usually reflects the inflow of fresh capital brought in by first-time users or investors into the ecosystem, serving as a strong support for the current upward trend.
2. Active Addresses Rise by 51%: During the same period, the number of Daily Active Addresses on the TON network surged by 51%. This indicates that not only are new users entering the market, but the on-chain activities of existing holders are also significantly deepening.

Funding rate is bullish, bulls dominate Despite the overall weakness in the market, TON has also conveyed positive signals in the derivatives market:

(TON funding rate | Source: Coinglass)

• Its Perptual Futures funding rate in the past day market correction remains positive, currently at 0.0057%.
• The funding rate is the fee periodically paid between long positions and short positions in the perpetual futures market, aimed at anchoring the contract price to the spot price.
• The positive funding rate of TON means: Long traders are willing to pay a premium to hold long positions, which clearly indicates a general bullish sentiment among futures market participants, suggesting that more investors expect the price of TON to rise in the short term.

Key price levels: $3.49 resistance and $3.23 support Although the current rise of TON is still moderate, its divergence from the overall market trend gives it the potential to continue rising in the coming days:

1. Upside Target ($3.68): If the high demand reflected on-chain can be maintained, the price of TON is expected to break through the key resistance level of $3.49 and further push towards **$3.68.
2. Downside Risk ($3.23): Conversely, if the Buy-side Momentum weakens, the current bullish expectations will be falsified. In this case, the TON price may fall back to the support level of $3.23.

Conclusion: On-chain health supports independent market trends, pay attention to momentum sustainability Against the backdrop of a global correction in the crypto assets market, TON has emerged with an independent trend, thanks to significantly improved on-chain fundamentals (inflow of new users and increased activity of existing users) and bullish sentiment in the futures market. Its network health and derivatives signals provide support for short-term prices. However, whether it can maintain its rise and break through key resistance will highly depend on the sustainability of new capital inflows and buyer momentum. Investors need to closely monitor changes in on-chain activity metrics and the situation at these key price levels.