Toncoin (TON) has been the talk of the cryptocurrency town for a lot of reasons. Since CEO Pavel Durov’s imprisonment, the encrypted messaging software Telegram has been under investigation worldwide, which has been problematic for TON. The asset dropped by 21% throughout the past month.
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Toncoin’s Current Performance And Future Predictions
At press time, TON was trading at $5.21, a drop of 2.45% over the past 24 hours. The asset is currently 36% below its all-time high of $8.24, which was achieved about three months ago. While attaining this level seems like a task, September could be bullish for the altcoin.
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How High Can Toncoin Surge in September 2024?
According to data from Changelly, analysts predict that Toncoin might hit a high of $8.34 in September 2024. This is quite far away from the $10 milestone. The lowest the altcoin might fall to is $5.43. The estimated average TON for September 2024 is close to $6.89. All of these predictions are higher than the asset’s current level. It looks like Toncoin will reach a new high this month.
Potential Hurdles For Toncoin
However, the asset could endure some hurdles. A recent report revealed that South Korean police are currently looking into Telegram. The South Korean Cyber Investigation Bureau declined to comment on the claim.
But the authorities are said to look into any suspected online sex offences on the platform. In addition, Woo Jong-soo, head of the National Office of Investigation, spoke to local media and said,
“As France has done, the Seoul Metropolitan Police Agency launched an internal investigation into the corporate entity of Telegram before officially booking it.”
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