Toncoin (TON) is approaching the $4 mark, riding a wave of renewed investor interest in proof-of-work (PoW) tokens as speculation around potential Litecoin (LTC) and Dogecoin (DOGE) ETFs gains traction. The broader market sentiment has shifted as traders look for assets that could benefit from institutional inflows.
The price surge comes amid increased discussions about spot ETFs for PoW-based cryptocurrencies, following the success of Bitcoin ETFs. While no official proposals have been confirmed, market enthusiasm has lifted several PoW-based assets, including LTC and DOGE, fueling a ripple effect that has also benefited Toncoin.
TON, which operates on The Open Network, has maintained strong momentum, gaining over 10% this week. Analysts suggest that growing network activity and broader interest in alternative PoW tokens have contributed to its recent price action. With Bitcoin’s price stability providing a supportive backdrop, speculative trading has intensified across the sector.
Despite the rally, market volatility remains a risk, with TON facing potential resistance near the $4.10–$4.20 range. A decisive breakout above this level could trigger further gains, but a failure to sustain momentum might lead to a short-term correction. Technical indicators suggest that the asset is nearing overbought conditions, prompting traders to watch for consolidation or retracement.
The coming weeks will be crucial in determining whether the ETF speculation translates into concrete developments. If institutional interest in PoW assets continues to build, Toncoin and similar tokens could see extended upside. However, without regulatory approval, price action may remain speculative and subject to sharp fluctuations.
For now, TON’s approach toward $4 signals growing optimism in the market, but traders remain cautious as they assess the long-term sustainability of the rally.
