The cryptocurrency market has seen a strong recovery, with Bitcoin maintaining its position above $60,000. This positive sentiment has spread to the altcoin market, pushing Toncoin’s price from $4.99 to $5.28, marking a 5.7% increase. As Telegram opens a new office in Kazakhstan to improve regulatory compliance, investors have become more optimistic about Toncoin.
Telegram’s Expansion Boosts Toncoin Price
Telegram’s decision to establish an office in Kazakhstan is part of its ongoing efforts to align with regulatory standards. This development emerged after Kazakh officials met with representatives from major tech companies like Meta and Apple. Zhaslan Madiev, a government minister, emphasized that cooperating with Telegram helps remove illegal content and block harmful channels. By enhancing content control, Telegram strengthens its regulatory standing in Kazakhstan.
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In a recent post, Telegram CEO Pavel Durov highlighted the app’s growing popularity in the country. He revealed that 12.5 million of Kazakhstan’s 20 million residents use Telegram, a 25% increase from last year. The new office signals Telegram’s commitment to complying with local regulations, boosting investor confidence in Toncoin. As a result, Toncoin surged 1.8%, maintaining its position above the $5 psychological level.
Sharpe Ratio Signals the Final Correction

Data from CryptoQuant shows that Toncoin’s Sharpe Ratio Risk Indicator has entered a ‘low-risk area’ after 12 months. This metric assesses an investment’s return in relation to its risk. When Toncoin enters this zone, it often signals the final leg of a correction before forming a bottom. Thus, a prolonged downward trend might occur in the second half of October, before buyers step in for a price reversal.
Toncoin Price May Fall Before Major Support

Toncoin has corrected from $6.13 to $5.3 in the last three weeks, a 13.5% loss. The price followed a downsloping trendline on daily charts, reflecting a sell-the-bounce sentiment. A potential death crossover between the 50-and 200-day EMAs suggests a continued decline. Analysts predict Toncoin may drop 13% to test the $4.6 support. However, if bullish momentum returns, a rally to $8 could follow a breach of overhead resistance.
