{"id":17916,"date":"2023-02-21T15:13:03","date_gmt":"2023-02-21T15:13:03","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/toncoin-price-outlook-amid-vote-to-freeze-20-of-supply\/"},"modified":"2023-02-21T15:13:03","modified_gmt":"2023-02-21T15:13:03","slug":"toncoin-price-outlook-amid-vote-to-freeze-20-of-supply","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/toncoin-price-outlook-amid-vote-to-freeze-20-of-supply\/","title":{"rendered":"Toncoin price outlook amid vote to freeze 20% of supply"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676989720113-c376f0de-031b-476c-9413-6d69947b444c-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676989720113-c376f0de-031b-476c-9413-6d69947b444c-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676989720113-c376f0de-031b-476c-9413-6d69947b444c-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676989720113-c376f0de-031b-476c-9413-6d69947b444c-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Toncoin price is around $2.36 as of 9:15 am ET, with TON up only 1.2% in the past 24 hours.<\/li>\n<li dir=\"ltr\">TON blockchain validators are set to vote on a propol to freeze up to 1 billion coins.<\/li>\n<li dir=\"ltr\">Reducing TON circulating supply could help price momentum in the short term amid fresh buying pressure.<\/li>\n<\/ul>\n<p dir=\"ltr\"><a href=\"https:\/\/coinjournal.net\/toncoin\/\">Toncoin price<\/a> is largely flat on Tuesday morning, with the coin\u2019s value only 1.2% and 2.7% higher in the past week and 30 days respectively.<\/p>\n<p dir=\"ltr\">The price of TON, the native coin on The Open Network (TON) blockchain, was around $2.06 on 10 February, before rising to highs above $2.40 as the broader market rallied this past week. However, today\u2019s price action has seen the coin decline to test lows of $2.34 \u2013 again amid a broader market slowdown that has Bitcoin bulls battling to keep BTC above $24,500.\u00a0<\/p>\n<p dir=\"ltr\">So, what\u2019s the outlook for Toncoin price?<\/p>\n<h2 dir=\"ltr\">TON price prediction ahead of key vote on token supply<\/h2>\n<p dir=\"ltr\">TON validators are <a href=\"https:\/\/twitter.com\/ton_starter\/status\/1627793945785761792\" rel=\"noopener noreferrer\" target=\"_blank\">set to vote<\/a> on a major proposal around Toncoin\u2019s tokenomics, particularly on freezing billions of TON tokens.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udc8e TON&#8217;s tokenomics optimization<\/p>\n<p>On Feb. 21, on <a href=\"https:\/\/twitter.com\/ton_blockchain?ref_src=twsrc%5Etfw\">@ton_blockchain<\/a> the validators will vote on a proposal to optimize tokenomics. If the proposal is accepted, the circulating supply of Toncoin will be reduced by ~20% by freezing it for the next 48 months and then unfreezing it. <a href=\"https:\/\/t.co\/MXwWjt7YAZ\">pic.twitter.com\/MXwWjt7YAZ<\/a><\/p>\n<p>\u2014 Tonstarter (@ton_starter) <a href=\"https:\/\/twitter.com\/ton_starter\/status\/1627793945785761792?ref_src=twsrc%5Etfw\">February 20, 2023<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">This proposal aims at reducing the coin\u2019s circulating supply by 20% if it passes. \u00a0If validators adopt the proposal, 1 billion TON tokens will be frozen for the next 48 months. In doing so, the total supply will drop to roughly 4 billion, while circulating supply shrinks from the current 1.47 billion.<\/p>\n<p dir=\"ltr\">TON developers\u2019 proposal targets inactive accounts belonging to the layer-1 blockchain\u2019s first group of miners. The team hopes the move will help bring more decentralisation to the project as freezing the inactive large wallets will ostensibly remove the control of the early whales.<\/p>\n<p dir=\"ltr\">The plan is to have these large whales lock their assets for 48 months through a network of validators, which would still see them earn more Toncoin. \u00a0But according to the proposal, only whales holding 300,000 TON or more will be able to lock their coins, which at current prices of $2.36, is equivalent to just over $708,000.\u00a0<\/p>\n<p dir=\"ltr\">Large whales who don\u2019t have such holdings can join a pool and stake their TON.<\/p>\n<h2 dir=\"ltr\">Toncoin price in 2023<\/h2>\n<p dir=\"ltr\">As <a href=\"https:\/\/twitter.com\/dash2_trade\/status\/1627979873133142018\" rel=\"noopener noreferrer\" target=\"_blank\">noted<\/a> below by the trading platform Dash 2 Trade, Toncoin price has not made an explosive start to 2023 as have some of the leading coins in the market.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udcf03\/ <a href=\"https:\/\/twitter.com\/search?q=%24TON&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$TON<\/a> Validators to Vote on Freezing 20% of <a href=\"https:\/\/twitter.com\/hashtag\/Toncoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Toncoin<\/a> Supply.<br \/>\u2714\ufe0fThe proposal could freeze 1 billion <a href=\"https:\/\/twitter.com\/hashtag\/Toncoins?src=hash&amp;ref_src=twsrc%5Etfw\">#Toncoins<\/a>.<br \/>\u2714\ufe0fThe project is aiming for greater <a href=\"https:\/\/twitter.com\/hashtag\/Decentralization?src=hash&amp;ref_src=twsrc%5Etfw\">#Decentralization<\/a>.<br \/>\u2714\ufe0f <a href=\"https:\/\/twitter.com\/search?q=%24TON&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$TON<\/a> prices have been flat for a month or so.<\/p>\n<p>\u2014 Dash 2 Trade (@dash2_trade) <a href=\"https:\/\/twitter.com\/dash2_trade\/status\/1627979873133142018?ref_src=twsrc%5Etfw\">February 21, 2023<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">But with the locking of 1 billion TON tokens, the short-term price movement could be on the upside. Cutting token supply through various methods as part of the tokenomics is largely seen as a positive for the price.<\/p>\n<p dir=\"ltr\">If this is the case, bulls could be looking at retesting $2.55 and then December highs of $2.66 in the short term.\u00a0<\/p>\n<p dir=\"ltr\">However, any upside momentum could also depend on the overall market outlook in coming months. Also key is the locking period for TON being set for 48 months, which could mean prices rise then flip once coins begin to be unlocked.<\/p>\n<p dir=\"ltr\">TON is also 55% down from its all-time high of $5.29 reached in November 2021.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/toncoin-price-prediction-ton-outlook-as-validators-vote-to-freeze-20-of-supply\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Toncoin price is around $2.36 as of 9:15 am ET, with TON up only 1.2% in the past 24 hours. TON blockchain validators are set to vote on a propol to freeze up to 1 billion coins. Reducing TON circulating supply could help [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":17917,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/17916"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=17916"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/17916\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/17917"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=17916"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=17916"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=17916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}