Toncoin pumps 20% as traders give bullish forecast for new altcoin
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Toncoin’s value jumps 20%, reaching $3.71, the highest since January 2022, fueled by optimistic forecasts and potential Telegram IPO interest. Meanwhile, Green Bitcoin’s presale hits $3.5 million, signaling growing investor enthusiasm.
Toncoin is trading at a 20% premium today. It is currently priced at $3.71, its highest price since January 2022.
Meanwhile, traders are backing the new altcoin Green Bitcoin to explode as its presale surpasses the $3.5 million mark.
Toncoin price surges ahead of potential Telegram IPO
Toncoin’s price chart illustrates a vertical trajectory this month, pumping from $2.7 to $3.7 in just over one day.
Indeed, a broader market bullishness helped Toncoin’s price explode, but the primary driver lies outside of the crypto realm.
Toncoin, developed on a blockchain protocol native to Telegram, facilitates cryptocurrency transactions and interactions with decentralized applications for its users.
The connection to Telegram, especially following a recent interview with its founder Pavel Durov, has sparked increased interest in Toncoin.
Durov hinted at an IPO, making Toncoin an attractive proposition for those looking to invest indirectly in the messaging platform’s future.
Despite its recent success, analysts like Alex Clay and TradingView’s Bithereum_io suggest there is potential for further growth, with Clay predicting a rise to $5.4.
Predict-to-earn Green Bitcoin raises $3.5M
In parallel, the new altcoin, Green Bitcoin, aims to offer an eco-friendly alternative to Bitcoin by utilizing staking instead of mining.
Green Bitcoin tackles this by launching on the Ethereum Network.
$GBTC holders can stake their tokens for passive rewards. Currently, they can garner a 132% APY, but this will decrease as more tokens are staked.
As well as rewarding the community and incentivizing long-term holding, the allure of passive rewards could help bolster demand.
The project also offers a flagship predict-to-earn model, inviting users to guess whether Bitcoin’s price will rise or fall in exchange for rewards.
These advantages have drawn attention from top analysts, with Jacob Bury recently speculating that $GBTC could 10x after its exchange launch.
Traders can buy Green Bitcoin for $0.8402, but this price will rise throughout the presale, so they must act fast or risk paying a premium.
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