Toncoin (TON) emerged as one of the biggest gainers in the past 24 hours. The asset caught the attention of the market after it recorded a 12% rise. TON went all the way from a low of $6.67 to a high of $7.07, as per CoinMarketCap. At press time, however, the asset encountered a slight setback as TON was trading at $6.81. In addition, the asset witnessed a 6% drop throughout the past month.
The Global In & Out of the Money indicator, which is based on data from IntoTheBlock, indicates that profitable addresses own 4.8 billion TON tokens. In the meantime, 32.98 million TON tokens, valued at $226 million, are worthless. This brings the total value of 778.23 million TON tokens at the money of $5.35 billion. In other words, 44% of the asset’s holders were making profits at the asset’s current price. Along with this, 20% were drowning in losses.
This is mostly because of the increase in large transactions in the TON network. Larger transactions are occurring more frequently, according to recent data. This implied that major companies were joining the market. Breakouts are frequently preceded by an accumulation phase as more investors depend on continuous increases.
Also Read: Toncoin: Can TON Hit a New All-Time High Before September?
Can TON Hit $10 In August 2024?
According to data from Changelly, Toncoin will experience notable surges in the next few days. The asset will witness double-digit rises daily. TON hit an all-time high of $8.24 about two months ago. The altcoin will see a new peak later this week following a 29% rise from its current level. In addition towards the end of this month, Toncoin will hit the much-awaited $10 mark.
Also Read: Binance Launches Toncoin (TON) on Launchpool and Super Earn
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