Altcoin Analysis of Toncoin (TON) as Holders Experience Profits

Friday, 13 September 2024, 03:32

Altcoin analysis reveals that Toncoin (TON) holders are enjoying significant gains as the supply held at profit reaches a weekly high. This increase follows a recent low and showcases robust market sentiment. With the price surging 15% in a week after Pavel Durov's recent statements, short-term holders are holding onto their assets, indicating positive momentum.
LivaRava_Crypto_Default.png
Altcoin Analysis of Toncoin (TON) as Holders Experience Profits

Understanding Toncoin's Recent Performance

Altcoin analysis indicates that Toncoin (TON) holders are seeing their investments pay off. The supply of coins held at a profit has reached a new weekly high, recovering from a seven-month low.

Toncoin Supply in Profit Skyrockets

Following Pavel Durov's public condemnation of his arrest on September 5, market sentiment has shifted positively toward Toncoin. The value of this Telegram-linked asset has surged by 15% over the past seven days, defying the general market downtrend.

  • At press time, the percentage of its total supply held in profit has surged to 53%.

According to Santiment’s data, Toncoin’s supply in profit previously hit a seven-month low on September 8. However, after Durov’s statement, trading activity surged, increasing the number of TON coins held in profit to 6.13 million.

Shifts in Holder Strategies

This rise in profit has led to a change in strategy among Toncoin’s short-term holders. Data from IntoTheBlock reveals that many addresses that purchased the coin in the past month are now holding onto it, resisting the urge to sell. This is a bullish signal, as short-term holders typically influence market dynamics.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


Related posts


Newsletter

Subscribe to our newsletter for the most current and reliable cryptocurrency updates. Stay informed and enhance your crypto knowledge effortlessly.

Subscribe