The price of TON has increased by almost 50% during the last 30 days.
If the price manages to break the recent high of $1.95 then further rally is expected.
The Open Network Foundation (TON Foundation) has announced its formal start as a Swiss non-profit organization. This is in order to aid in the development of The Open Network (TON). The ability of the TON Foundation to effectively plan, strategize, and implement its purpose to promote the TON ecosystem is dependent on the country’s clear regulation in the long run.
Steve Yun, President of TON Foundation stated:
“This marks the next chapter for the Toncoin community. At the service of our community, TON Foundation will pursue strong governance and transparency under the guidance of Swiss regulations.”
Furthermore, to encourage developer acquisition, user involvement, and network expansion, the TON Foundation has launched its Swiss organization at the same time as a number of other forthcoming initiatives.
Defying Market Trend
After launching Tact on August 22nd, a new programming language for establishing smart contracts on the network, investor interest in Toncoin has increased, pushing the price up 3% in the previous 24 hours to US$1.876 and 8.51% in the last 7 days.
Source: CoinMarketCap
Moreover, the price of Toncoin (TON) is maintaining its general upward trend despite a mostly consolidating cryptocurrency market. Also, the price of TON, for instance, has increased by almost to 50% during the last 30 days.
At the time of writing the price of TON is $1.81 as per data from CMC. If the price manages to break the recent high of $1.95 then further rally is expected. However if the price manages to clearly break below $1.75 then a correction to $1.49 is on the cards.