Toncoin has redefined financial solutions with a robust ecosystem and cutting-edge technological capabilities. Even with groundbreaking financial features, the Toncoin crypto remains among the undervalued tokens on the market. Compared to Layer-1 counterparts, the TON network remains largely underdeveloped. This might soon change as Elluminex approaches the scene, aiming to transform the DeFi Market on the rapidly growing Toncoin blockchain.
With its revolutionary decentralized exchange (DEX), which leverages Telegram’s massive 950 million user base, Elluminex is well-positioned to drive a new wave of success to the TON network. Much like how Uniswap turned Ethereum into the heart of DeFi, Elluminex is ready to solve critical challenges, drive adoption, and elevate the TON ecosystem to new heights. Let’s find out the possibilities.
Can Toncoin Hit $15 In This Bull Cycle?
Toncoin’s price action highlights a corrective phase marked by a descending channel that has existed since its price peaked at $8.30 in June 2024. The daily chart indicates the token has been stabilizing within the green demand zone between $4.50 and $5.50, corresponding to the 0.5 and 0.618 Fibonacci retracement levels. This zone has become critical support for the downtrend and may trigger a reversal.
The 1-hour price chart supports the forecast of a potential reversal. A completed five-wave impulsive structure has formed within the hourly time frame, indicating the conclusion of wave 5 in the C correction. TON’s price has since tried to reclaim support, with a minor wave structure suggesting an early-stage impulsive recovery. Its breakout attempt above the descending trendline coincides with wave two and hints at wave three development in a higher degree impulsive wave count.
If validated, the following Fibonacci extension levels could indicate immediate targets near $6.00 and $6.91. Any additional bullish momentum could send the price toward its previous peak at $7.83. Meanwhile, CryptoBullet has predicted an ambitious target, highlighting that it could reach $15 in this bull cycle. Its RSI momentum on the hourly chart suggests improving conditions, but resistance at the descending trendline must be cleared decisively.
How Elluminex Intends To Flip The DeFi Script
Elluminex (ELX) is looking to distinguish itself as a pioneering project harnessing the unique capabilities of the TON blockchain, which is widely recognized as the fastest-growing layer-1 blockchain. Old-guard DEXs like PancakeSwap and Uniswap have a significant drawback: lack of interoperability between blockchains. This has already led to many issues that affect users’ experience. Sub-optimal chain integration dilutes liquidity and increases fees and waiting time, resulting in missed opportunities where speed is a factor.
To solve these issues, Elluminex introduces an advanced cross-chain bridging mechanism to enable instantaneous cross-isolated blockchains. This positions the project as a comprehensive DeFi exchange capable of aggregating liquidity from different sources. By addressing inefficiencies of single-chain systems, Elluminex will minimize slippage and transaction delays, ensuring users capitalize on the latest trends without any unforeseen expenses.
Moreover, Elluminex’s emphasis on self-custody ensures investors maintain complete control over their assets. A move that will remove reliance on centralized platforms. Moreover, in an industry where data is commodified, Elluminex has also removed the KYC verification process, allowing users to maintain anonymity while using the platform. This feature is set to drive massive adoption with a stage one presale price of $0.06.
Can Elluminex Replicate TON’s Bullish Rally?
Toncoin’s explosive rally, which placed it among the top 20 cryptos by market capitalization, has already made crypto millionaires. Elluminex (ELX) is well positioned to replicate this rally and, at the same time, drive transformation in TON’s DeFi ecosystem. Thanks to its cross-chain capabilities, high growth potential, and user-friendly features, Elluminex could become a key contender in the DeFi space.
For more information about Elluminex (ELX), visit the links below:
Website: https://elluminex.com/
Twitter/X: https://x.com/elluminex
Telegram: https://t.me/Elluminex