TON DEX Activity Could Help Fuel A 98% Rally For The Token

NOIDA (CoinChapter.com)—TON (Toncoin) recently reached $6.05, the token’s highest price level since August earlier this year. Growing decentralized exchange (DEX) activity supported the price spike, which was milder than most of its peers, suggesting slightly muted interest in the token.

However, a CryptoQuant Quickshare by analyst Joao Wedson highlights a significant uptick in swap activities on decentralized exchanges (DEXs) STON.fi and DeDust. This user engagement and transaction volume surge may signal potential shifts in TON’s market dynamics.

What Rising DEX Activity Means for TON

The observed increase in swap activities on STON.fi and DeDust indicates heightened user participation and liquidity within the TON ecosystem. Historically, such trends have been associated with subsequent price appreciations for TON.

Specifically, STON.fi currently dominates the trading landscape, accounting for approximately 75% of the total transactions between the two platforms. This dominance suggests that STON.fi is pivotal in TON’s liquidity and price stability.

With the growing interest in swaps on TON’s DEXs, it’s likely that a new bullish cycle for TON is approaching, driven by higher liquidity and demand on decentralized exchanges.
Wedson said

Beyond trading activities, the TON blockchain has experienced growth in decentralized applications (dApps), particularly in the gaming sector.

Platforms like TON App showcase a variety of blockchain-based games, such as “Rocky Rabbit” and “MomoAI,” which leverage TON’s capabilities to offer unique gameplay experiences.

Ton’s expansion into gaming diversifies the token’s use cases and attracts a broader user base, potentially enhancing its utility and demand.

The surge in DEX activities on STON.fi and DeDust and the proliferation of gaming dApps on The Open Network blockchain could help the token start a bull run soon. Moreover, with BTC in no hurry to flip $100,000, market participants could seek alternative options to cycle profits, which could benefit TON.

Technical Setup Adds Bullish Cues

Meanwhile, the TON USD pair has formed a bullish technical setup called the ‘falling wedge,’ which could add bullish cues to the token’s price action.

Two converging downward trendlines that connect lower highs and lower lows form the falling wedge, a bullish reversal. The narrowing structure shows that, despite the ongoing downtrend, the bearish momentum is gradually weakening, often preceding an upward breakout.

The key feature of a falling wedge is that the slope of the lower trendline is steeper than that of the upper trendline, indicating that selling pressure is dissipating. When the breakout occurs—typically upward—it signals buyers taking control.

To estimate the potential price target after a breakout, traders measure the vertical distance between the widest points of the wedge and project that range from the breakout point upwards.

According to technical analysis rules, the TON USD conversion rate might rally over 98% from its current level to reach the pattern’s projected target of around $11.7.

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