Toncoin [TON] outperformed Bitcoin BTC in the past few days. It has gained 21.36% in the past seven days and 4.98% in the past 24 hours, based on CoinMarketCap data.
By comparison, BTC has dropped 2.84% in the past week and gained 2.26% in the past 24 hours.
The social volume of TON was one of the outliers in the crypto market, rising by more than 20% compared to the previous week.
The performance of Toncoin in May as a top 10 asset by market capitalization should invigorate buyers. While Bitcoin fell below $60k, bounced to $65.5k and faced another rejection, TON has trended higher.
The Fibonacci levels showcased the likelihood of further gains was good.
The move past the 78.6% retracement level meant that the downtrend to $4.6 might not see newer lows, but instead the price could trend toward the Fib extension levels northward.
The 161.8% and 200% extension levels at $9.61 and $10.8 were technical targets where bulls could realize profits.
People who been amazed with the recent performance get by TON will always compare it to bitcoin then they think about it can out performed bitcoin in certain times they imagining. But This is just a short term achievement for that coin and there's a lot of things needed to prove since in case with bitcoin it already goes a lot with challenges and here it still stays at the top of all crypto in the market. while that TON still need to work for a lot of things and need to exist for lots of years before those established investors would really agree with this statement.
For now people stop comparing but rather they should focus on how they can earn with bitcoin also with TON since its good to ride up the hype with certain coins since it provably convert into profit to us.