Throughout the year, many altcoins have achieved significant gains, with some seeing more than tenfold increases. However, TON Coin has crossed major thresholds this year with steps it has taken and with the support of Telegram. But recent events have caused delays in transaction confirmation times on the network. So, what’s happening with TON Coin?
In the past 2 days, there has been a serious slowdown in transactions on the TON network. Since December 5, more than 3 million new transactions have been recorded. For networks like TON Blockchain, which are relatively less popular, such intense interest in such a short period is unusual. Moreover, this community interest is also a supportive indicator for price increases.
The architecture and implementation of TON allow it to process much larger loads quickly. However, the transaction volume, which increased by 50-100 times in 30 minutes, led to disruptions due to some validators with weak hardware on the network.
These delays were experienced with the introduction of BRC20-like scripts (TON20) to the TON network. Remember that we have seen similar disruptions in BTC, DOGE, and LTC networks. A significant increase in network usage could be an important test for the TON blockchain and could also support the permanent user base on the network.
The price, which has reached new highs since August 27, recently approached the $2.78 mark on November 8. However, it is now struggling to maintain the $2.24 support level. Although altcoins have been shaken by the fall in BTC price, we have yet to see the results of the December rally on altcoins. This could indicate that it might be time for a mid-altcoin rally.