Toncoin’s value is flat on Tuesday morning, with the coin worth only 1.2% and a couple of.7% higher over the last week and 30 days, respectively.
The value of TON, the native coin on The Open Community (TON) blockchain, was around $2.06 on 10 February before rising to highs above $2.40 as the broader market rallied this week. Nonetheless, the coin’s current value movement has seen it fall to check lows of $2.34 – once again amid a more general market slowdown with Bitcoin bulls battling to keep BTC above $24,500.
So, what is the future of Toncoin’s value?
TON value prediction in advance of a critical vote on the token provision
Toncoin validators will vote on a severe proposal regarding Toncoin’s tokenomics, specifically freezing billions of TON tokens.
If approved, this proposal will reduce the coin’s circulating supply by 20%. If validators agree to the proposal, 1 billion TON tokens could be frozen for 48 months. As a result, total supply will fall to around 4 billion, while circulating supply will fall from 1.47 billion to roughly 4 billion.
The TON builders’ proposal targets inactive accounts belonging to the first group of miners on the layer-1 blockchain. The group hopes that the transfer will help bring more decentralization to the project because freezing the inactive big wallets will ostensibly take away the control of the early whales.
The plan is for these massive whales to lock their assets for 48 months via a network of validators, allowing them to earn more Toncoin. However, according to the proposal, only whales with 300,000 tons or even more will be able to lock their money, which currently costs $2.36 and is equivalent to just over $708,000.
Massive whales without such holdings can join a pool and stake their TON.
Toncoin worth in 2023
According to the buying and selling platform Sprint 2 Commerce, Toncoin value has not made an explosive start to 2023, as have some of the major currencies.
However, upward momentum may depend on the general market outlook in the coming months. Furthermore, the locking period for TON is set for 48 months, which could mean that prices rise and then reverse once funds begin to be unlocked.
TON may also be 55% lower than its all-time high of $5.29 in November 2021.
