Toncoin is shaping financial solutions by facilitating a robust ecosystem and propagating innovative technological capabilities. However, compared to its Layer-1 counterparts like Ethereum and Binance Coin, the Toncoin network is largely unexplored. This won’t be for long as Elluminex prepares to enter the fray and redefine the DeFi market on the fast-growing TON blockchain.
Its all-in-one utility and ambitious vision could steer it for a massive breakout like Sui (SUI), which launched a cross-chain USDC transfer protocol, a key development that could place it in a position to grow its user base. This new feature enables smooth USDC transfers across multiple blockchains, improving liquidity and making USDC easier to use on the Sui Network. As a result, the SUI token supports faster and more efficient transactions, ultimately triggering the SUI price to move higher.
Elluminex Leverages TON Blockchain Architecture To Build A Comprehensive DeFi Platform
Elluminex has gained ground quickly in the crypto market as more people discover its unique solution to some of the biggest DeFi challenges. Its standout Elluminex DEX is the ecosystem’s flagship feature, intending to solve fragmented liquidity issues, transaction speed, and high gas fees while offering a wide array of assets with deep liquidity. It efficiently sources liquidity from multiple blockchains and reduces slippage, fostering a seamless trading experience.
In addition, Elluminex will streamline the DeFi experience while making it accessible to different users through other features like the cross-chain bridge, farming, staking, and pre-market access in a single platform. Through its staking and farming feature, users can earn rewards while contributing to the platform’s liquidity—a move that will enhance passive income opportunities. This approach also aims to prevent sell-offs while fostering a loyal community base that will contribute to the stability of the ELX token.
Apart from its trading capabilities, Elluminex will also have a learning academy. This will help create awareness about DeFi and its untapped opportunities for investors, creating an inclusive yet educational environment for users. With such features, Elluminex holds more potential for high returns in 2025.
Technical Analysis: Can SUI Reach The $7.73 Level?
With recent technological developments, the Sui network is positioned as an important blockchain that attracts holders and users even in a competitive market. Its technical indicators showcase a bullish sentiment, with the token holding gains above the $4.35 support level. While the bulls are striving for new highs, they potentially face resistance around the $5.23 zone. If the price of SUI breaks above this critical resistance level, it could set the stage for fresh rallies.
Its 10-day moving average hovers around the $4.43 level, suggesting a short-term positive trend. Its 50-day moving average is $3.43, indicating solid mid-term support. All these suggest that SUI price trends remain positive. Its Relative Strength Index (RSI) is at 60, suggesting the SUI token is building momentum and could still witness strong buying activity.
The MACD indicator further confirms the bullish momentum with a positive number. If SUI breaks above $5.23, there would be clear price targets ahead. The first target will be around $5.71, where the token will face mid-level resistance. The next target will be $6.80, which aligns with the Fibonacci projections. If this scenario continues, SUI could reach $7.73, a 73.48% upside from its current price.
Toncoin Price Tests Key $5 Support Level
Toncoin (TON) declined from its yearly high of $8.28 in June but bounced in November after breaking out from its descending resistance trendline. However, TON has retraced this week, putting it at the breakdown risk. The TON token has retraced back to its long-term support at $5, which is critical for determining its future trends. Notably, the TON price has formed a lower high and returned to the horizontal support area.
The downturn also confirms its $7 horizontal resistance, creating a trading range between $5 and $7. Its Relative Strength Index (RSI) and MACD are at 50 and 0, respectively, highlighting undermined trends. The TON daily chart suggests a bearish phase since its price trades within an ascending parallel channel, which often contains corrective movements. Also, Toncoin broke down from an ascending support trendline.
Despite its price action and technical indicators readings, the TON wave count is bullish. It indicates that crypto has begun its fifth and final wave of an upward movement in June 2022. Per the count, the correction ended in September with a bounce at the 0.5 Fibonacci retracement support level of $4.63. Due to mixed signals, the trend is undermined, and a breakdown below $5 could cause a fall to $3.76. However, a rally can lead to a price of $10.70
Will Elluminex Mirror Sui Break Out?
By taking advantage of Toncoin’s advanced capabilities, including a secure smart contract infrastructure and scalability, Elluminex will tap into the DeFi market, giving people who get in early a better chance of making significant returns.
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
