The TON Blockchain development team announced that it has made an important update to fix critical security vulnerabilities in its network. The Open Network community recently released updates v2024.10 and FunC 0.4.5, which aim to improve the performance, efficiency and reliability of the ecosystem. This supported the optimism towards the altcoin project. Now, crypto market participants are weighing whether the TON price can reach $20.
TON Blockchain fixes network vulnerabilities
According to a recent GitHub release, TON Blockchain has updated to v2024.10 and FunC to 0.4.5. In particular, the update includes a number of revolutionary changes for The Open Network ecosystem. According to the official statement made by the altcoin project, the network now has an improved synchronization and garbage collection (GC) speed, which is useful for systems that use slower disks. Additionally, the system update minimizes the amount of data transmitted over the network. Thus, it increases efficiency. That’s why the ecosystem now sees less network traffic. The update also supports network responsiveness by enabling seamless creation of channels and searching of Distributed Hash Tables (DHT).
Additionally, the altcoin project’s update fixes the bug in FunC. Thus, improving code execution and correctness on TON Blockchain. The release also highlighted minor changes to TVM to improve network functionality. These ecosystem developments, along with others that have recently launched, have garnered significant market interest in Toncoin in the broader crypto space.
Altcoin price heading to $20 amid network developments?
As you follow from Kriptokoin.com, the market is losing ground today. It is noteworthy that Toncoin is continuing its downward waves in line with the crypto market performance today. At the time of writing, TON was trading at $4.86, down about 1%. The 24-hour lowest and highest price of the cryptocurrency were $4.77 and $4.95, respectively. Notably, the cryptocurrency’s weekly price chart indicates a 4.83% decline in value. The monthly chart showed a decline of 110.7%. However, despite the bearish momentum of the altcoin price, market sentiments regarding future movements appear to be taking a paradigm shift in light of recent developments.
Additionally, some analysts are putting a $20 target on Toncoin in the middle of this bull cycle. This bullish projection comes against the backdrop of rising token holders and market techniques. It also solidifies market optimism regarding the crypto’s future movements.
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