The Open Network (TON) Partners With Pyth Network and Injective to Deliver High-Fidelity Data to Builders

The Open Network (TON), a decentralized blockchain platform, and Pyth network, a decentralized data oracle, have partnered to deliver high-fidelity data

The Open Network (TON) is a fifth-generation blockchain designed to be decentralized, scalable, and fast. It was created by Telegram, a popular messaging app, and is now being maintained by the TON Foundation.

The TON blockchain consists of several components, including the TON Blockchain, TON DNS, TON Storage, and TON Sites. These components work together to provide a comprehensive and user-friendly platform for decentralized applications (dApps), services, and websites.

One of the key features of the TON blockchain is its use of multiple blockchains, known as shards. This sharding architecture allows the network to handle a large volume of transactions while maintaining high speeds and low costs.

The TON blockchain is also designed to be energy-efficient, using a Proof-of-Stake (PoS) consensus mechanism that reduces the computational power and energy consumption required for mining new blocks.

Several projects are integrating with the TON blockchain to enhance its capabilities and reach. For example, TON has partnered with Pyth network, a decentralized data oracle, to provide builders with high-fidelity data.

Additionally, Injective, a decentralized derivatives exchange, has integrated with the TON blockchain, enabling the bridging and utilization of assets like INJ within the TON ecosystem and vice versa.

Chart analysis of TONUSD indicates a minor pullback following a sell-off, with any daily close above $8.50 to confirm further bullishness.

The pair experienced a pullback of over 10% after hitting a multi-week high. It continues to trade above the short-term (21EMA, 55 EMA) and below the long-term moving average in the 4-hour chart.

After hitting a high of $7.26, the pair is currently trading around $6.50.

The bullish invalidation can occur if the pair closes below $4.50.

On the lower side, the near-term support is $6. Any close below targets $5.70/$5/$4.50/$3.78.

The pair's near-term resistance is around $7.25. Any breach above confirms minor bullishness. A jump to $8.30/$9/$10 is possible. A surge past $10 will take it to $12.

It is good to buy on dips around $6 with SL around $5 for TP of $10.