Toncoin (TON) Surges Past $3.50 as On-Chain Demand Fuels 30% Monthly Rally

Toncoin (TON) maintains its bullish momentum, currently trading at $3.56 despite a slight 1.3% daily dip. The cryptocurrency has posted an impressive 30% monthly gain, supported by strong price fundamentals and a 28% increase in open interest to $13.61 million.

On-chain data shows accelerating network growth, with weekly DEX volumes jumping from $54 million to $82 million in just three weeks. Stablecoin inflows and rising chain fees further demonstrate increasing demand. While derivatives volume dipped 10.5%, elevated open interest indicates traders are positioning for significant future movement.

Technical indicators remain predominantly positive, though some momentum signals suggest possible short-term consolidation. TON has been trading between $3.20 and $3.70 recently, with 24-hour spot volumes up 3.3% to $324.8 million.