As an experienced analyst, I find it fascinating to observe Toncoin’s (TON) current market situation, with 100% of addresses holding the token being profitable as the price hits an all-time high. The impressive surge in TON’s value is even more noteworthy when compared to Bitcoin and Ethereum’s relatively stable prices.
As a researcher examining Toncoin (TON) data, I’ve discovered an intriguing finding: every address holding this Telegram-linked token is presently in the green zone, meaning their investments have resulted in profits according to the In/Out of Money metrics.
Based on information from IntoTheBlock, every address holding TON has earned a profit with the coin’s price hovering around $8.00.
As a crypto investor, I’ve noticed an intriguing development in the market lately. While Bitcoin was holding steady around $67,000, and Ethereum hovered near the $3,500 mark, Toncoin surprised us all with a significant price increase. This altcoin’s surge was particularly noteworthy given the relatively stable positions of Bitcoin and Ethereum as the top two players in the market cap race.
100% TON addresses in profit as price hits an all-time high
Toncoin price rose more than 7% on Friday to reach an all-time high of $8.13.
As a crypto investor, I can explain that reaching new price highs signifies that the average price at which I and other token holders with approximately 21,490 TON addresses purchased our tokens is now lower than the current market price. In simpler terms, if we had all bought our tokens at the current price, we would have made a profit, or be “in the money.”
As a researcher studying Toncoin (TON), I’ve noticed a significant shift from just over a year ago when approximately 90% of TON addresses were underwater or incurring losses, with the coin price hovering around $1.40. However, this situation has dramatically changed as Toncoin has experienced remarkable growth over the past year.
According to IntoTheBlock’s data, the number of cryptocurrency addresses holding a balance increased from approximately 5,800 in mid-June 2023 to more than 20,870 by June 10.
As a crypto investor, I’ve noticed an intriguing trend in the TON blockchain. Specifically, there has been a significant surge in the number of addresses holding less than 10 TON tokens. Three months ago, approximately 4,900 such addresses existed. However, by June 10, this figure had more than doubled, reaching over 10,000. This growth represents a substantial increase in the number of smaller investors entering the TON ecosystem.
As a crypto investor, I can tell you that approximately 39.9% of the supply is in the hands of individual retail investors like myself, while whales control around 30.5%, and institutional investors hold about 29.5% of the total cryptocurrency supply.
The number of addresses on The Open Network (TON) blockchain and its native token, Toncoin, experienced a significant increase due to several favorable events that boosted the network.
Instead of Telegram’s backing of TON through its advertisement revenue-sharing plan for channel administrators, initiatives like the Open League and NOT‘s recent surge in value have significantly contributed to the cryptocurrency’s price rise.
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2024-06-14 18:30