Toncoin (TON) is experiencing a renewed wave of growth, with not only its price and market cap climbing, but also a significant increase in investor participation across all brackets. Data from Santiment reveals a surge in the number of addresses holding TON, from retail investors with holdings between 0.01 and 1 TON to whales boasting portfolios of 100,000 to 1 million tokens. This widespread interest is a positive sign for TON’s future, as it suggests growing confidence in the cryptocurrency’s potential for further price appreciation.
Just recently, Analysts reported on the influx of whales entering the Toncoin network. Now, it appears retail investors are also recognizing TON’s potential. This loyalty has been rewarded handsomely, with TON’s price experiencing a noteworthy 5.01% increase in the past 24 hours, reaching $6.59 at the time of writing.
The positive sentiment is further bolstered by the jump in the total supply in profit. Currently, a staggering 79.04% of TON holders are in the green. While a slight dip from the recent 100% mark might suggest some selling pressure, the overall trend indicates a bullish outlook. With the current uptrend, TON could be well on its way back to its all-time high of $7.65.
However, the possibility of TON exceeding even that milestone looms large. Speculation of an impending altcoin season, a period where altcoins significantly outperform Bitcoin (BTC), is gaining traction. If at least 75% of the top 50 altcoins manage to outshine Bitcoin, TON’s price could easily surpass $7 and reach double-digit territory.
Also Read: Toncoin (TON): Whale Frenzy Ignites Despite Bearish Chart Signals (Price: $6.43, +20% Monthly)
Beyond investor participation, another key metric supporting TON’s bullish trend is Open Interest (OI). Open Interest represents the total value of all open contracts in the market. A decrease in OI signifies traders closing positions, potentially removing capital from the market and leading to a bearish turn. Conversely, Coinglass data shows an 11.70% increase in TON’s OI over the last 24 hours. This uptick indicates an influx of new money entering the market, further fueling optimism for TON’s future.
In conclusion, Toncoin is experiencing a surge in investor interest across all levels, alongside a price increase and rising Open Interest. These factors combined paint a promising picture for TON’s future, with the potential for significant price gains on the horizon, especially if an altcoin season materializes.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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