Building on a strong November, Toncoin (TON) extended its bullish run this week. But the rally has faced significant resistance as investors turned to caution.<\/p>\n
As a result, Toncoin has witnessed a sharp decline in wallet profitability, with only 65% of addresses now in profit \u2013 a stark drop from the 90% peak recorded just a week ago.<\/p>\n
The latest IntoTheBlock data<\/a> indicates that 25% of Toncoin wallets are currently at a loss, while 11% remain at breakeven. This shift highlights the recent turbulence in Toncoin\u2019s market price, affecting profitability for many holders.<\/p>\n Ownership trends revealed that the majority of Toncoin holders \u2013 85% \u2013 have held the coin for less than a year, with 12% acquiring it within the past month. Long-term holders, those holding the asset for over a year, account for only 3%, suggesting the dominance of short-term traders in the Toncoin ecosystem.<\/p>\n Meanwhile, trading activity also depicted an interesting geographic pattern, with 61% of Toncoin transactions occurring during Western trading hours, leaving 39% during Eastern hours. Over the past week, the network saw over $51.97 billion worth of high-value transactions exceeding $100K.<\/p>\n Despite this strong activity, Toncoin\u2019s price has dipped 8.41% over the past 24 hours, now trading at $5.93. The cryptocurrency\u2019s market capitalization currently stands at $15.12 billion. Meanwhile, trading volume surged 142%, reaching $779.6 million, pointing to sustained market interest despite the challenges posed by recent fluctuations.<\/p>\n Besides, CryptoQuant\u00a0analysts\u00a0suggest<\/a> that the <\/span>cryptocurrency could see a meaningful rally and even reclaim its previously established peak based on \u201d strong fundamentals, including an active development team and an active network.\u201d<\/p>\n The post Toncoin (TON) Wallet Profitability Dips as Market Volatility Increases<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Building on a strong November, Toncoin (TON) extended its bullish run this week. But the rally has faced significant resistance as investors turned to caution. As a result, Toncoin has witnessed a sharp decline in wallet profitability, with only 65% of addresses now in profit \u2013 a stark drop from the 90% peak recorded just […]<\/p>\n","protected":false},"author":0,"featured_media":27479,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-27478","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/27478"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27478"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/27478\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/27479"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27478"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27478"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}