The cryptocurrency market has been experiencing a bullish trend since the last quarter of 2023. Bitcoin, Ethereum, and other major coins followed it and made good gains. Other tokens, like Toncoin, performed even better, making higher returns during that period. If you own TON, you’re probably thinking about cashing out, saving your gains and maybe making a Toncoin to Tether exchange. In this article, you’ll learn about the Toncoin project, its features, history, and current market performances, as well as its forecasts for the future. We’ll also discuss the importance of stablecoins like USDT and its role as a safe haven in crypto markets.
What Is Toncoin?
Toncoin is a cryptocurrency project that was initially developed by the social messaging app Telegram. However, following a court order by the US Securities and Exchange Commission (SEC), the company decided to drop the project. After that, a group of independent developers took it on.
The goal of Toncoin is to allow developers to build DApps in the network and even to issue new tokens in the network. However, it is not compatible with the Ethereum Virtual Machine (EVM). A positive feature is the fact that TON tokens can be stored and used within the Telegram app. While the company is not involved in the development, both projects are still linked.
Market Performance
The TON token didn’t take on the bullish trend right on October when the rest of the market was booming. However, it did see a quick surge in February, and it hasn’t stopped growing since then. By mid-June, it reached a new All-Time High, at $8.24, and it’s currently down to $6.64. It has gained 185% year to date, and it’s expected to keep growing in the future.
Market analysts predict the price will be around $15 by the end of 2024, and gains will keep coming in the next years, surpassing the $30 mark by 2028. If you want to know Toncoin or Siacoin price prediction, you can find analysis and forecasts on blogs and exchanges.
| Year | Average price |
| 2025 | $17.33 |
| 2026 | $24.11 |
| 2027 | $29.99 |
| 2028 | $32.71 |
Reasons for Using Stablecoins Like Tether
However, as the price keeps rising, investors could feel the need to protect their gains. That’s the moment a stablecoin, namely USDT, makes its entrance. There are a few reasons why this type of asset can be useful in times of market volatility.
- Hedge against price falls. As the value of a coin goes up, a price correction becomes imminent. By natural market dynamics, investors will sell a part of their tokens to save some of the gains they’ve made. To prevent this correction from affecting your assets, you can swap some of it for a stablecoin like USDT.
- Value of the dollar. The advantage of USDT is that you can have an asset with a stable price pegged to the US Dollar without going through the hassle of withdrawing to actual fiat currency. This process can often take too long to be final, and you risk losing a portion of your gains.
Tether’s Position in the Market
These benefits, along with the fact that it was one of the first stablecoins to launch, have positioned USDT in a privileged space in the market. It was first launched in the Omni Layer, in Bitcoin, but it is now available on more than 60 networks. Regarding market capitalization, it is ranked #3, just below Bitcoin and Ethereum. And more importantly, it is the largest by daily trading volume, with over $114 billion being traded every day. This is a testament to how important USDT is for investors all across the market.
Final Thoughts
Toncoin doesn’t seem to be coming to the end of its bullish trend, and analysts agree it will keep gaining value in the coming years. However, it’s always wise to cash some gains, especially when the token returned almost 200% of the investment in less than a year. In this case, USDT is a perfect choice to swap some of your TON. But consider keeping some, to benefit in the future.