Toncoin Traders Aim for $10B Valuation as Elon Musk Introduces Grok AI in Telegram

• Toncoin price increased by 3% on Wednesday, approaching the $3.7 mark, with a total market cap of $9.2 billion.
• On the same day, Elon Musk announced the integration of the AI chatbot Grok into Telegram.
• The TON ecosystem currently has a Total Value Locked (TVL) of $163 million, according to Defilama data.

On Wednesday, Toncoin’s price saw a 3% increase despite a decrease in overall crypto market inflows following a brief rally of two days. Analysts believe that the integration of Grok into the Telegram social media platform could lead to significant price increases in the upcoming weeks.

Toncoin’s Price Movements Amid Market Conditions

This week, Toncoin has experienced a period of relatively flat price movement, even though the environment is generally favorable for privacy-oriented cryptocurrencies. The recent decision by the U.S. Securities and Exchange Commission (SEC) to ease restrictions on Tornado Cash has benefited assets like TORN, Monero (XMR), and ZCash (ZEC). However, Toncoin has not yet fully taken advantage of this positive trend and has been trading in a stable range.

Toncoin price action | Source: Coinmarketcap

At press time, Toncoin reached $3.68 with a market cap around $8.9 billion. Analysts are optimistic that the recent partnership with Grok AI could act as a bullish catalyst, potentially leading to more gains.

Impact of Grok Integration on the TON Ecosystem

On Wednesday, Elon Musk confirmed the integration of Grok AI into Telegram via a post from Grok’s official account. This partnership is expected to enhance the capabilities of the TON ecosystem significantly. Projects built on the TON blockchain, which are closely linked to Telegram, could leverage Grok AI to improve their functionality and engage users more effectively.

Elon Musk Confirms Grok integration with Telegram | Source: X.com

As of now, the TON ecosystem boasts a Total Value Locked of approximately $163 million. If users and developers embrace Grok AI successfully, the ecosystem may witness a significant increase in this figure, thereby enhancing its fundamentals and interest in Toncoin.

Toncoin Price Predictions and Potential Breakout

Currently, Toncoin is in a consolidation phase above $3.50, indicating that bullish sentiments are growing. The Keltner Channel (KC) indicator reveals a possible squeeze, with Toncoin testing the key midline at $3.46 and nearing the upper resistance at $3.91. A breakout above this resistance could lead to an upward movement towards the notable $4 level.

The MACD histogram supports the bullish outlook, as the MACD line (0.071) remains above the signal line (0.010). This suggests that buyer momentum is strengthening, although a slight reduction in histogram bars indicates a possible slowdown. Trading volume sits at 3.93 million, showing steady participation, though more significant activity may be needed for a breakout.

If Toncoin cannot exceed the $3.91 resistance level, it may face a retracement to around $3.37, identified by the Parabolic SAR indicator as support. Should prices fall below $3.37, there’s a risk of dropping toward $3.00, which would negate the bullish outlook. However, if buyers manage to maintain upward pressure, a surge towards $4 remains probable. A confirmed close above $4 could push TON even higher, towards $4.20, reinforcing the bullish case.