Toncoin (TON) Wallet Profitability Falls as Market Volatility Rises

Building on a strong November, Toncoin (TON) extended its bull run this week. But the rally has faced significant resistance as investors became cautious.

As a result, Toncoin has witnessed a sharp drop in wallet profitability, with only 65% ​​of addresses now making profits, a sharp drop from the peak of 90% recorded just a week ago.

The latest on IntoTheBlock data indicates that 25% of Toncoin portfolios are currently at losses, while 11% remain at breakeven. This change highlights the recent turbulence in the market price of Toncoin, which affects the profitability of many holders.

Ownership trends revealed that the majority of Toncoin holders (85%) have held the coin for less than a year, with 12% acquiring it in the last month. Long-term holders, those who hold the asset for more than a year, represent only 3%, suggesting the dominance of short-term traders in the Toncoin ecosystem.

Meanwhile, trading activity also showed an interesting geographic pattern, with 61% of Toncoin transactions occurring during Western trading hours, leaving 39% during Eastern trading hours. Over the past week, the network recorded more than $51.97 billion in high-value transactions exceeding $100,000.

Despite this strong activity, the price of Toncoin has fallen by 8.41% in the last 24 hours and is now trading at $5.93. The market capitalization of the cryptocurrency currently stands at $15.12 billion. Meanwhile, trading volume increased by 142%, reaching $779.6 million, pointing to sustained market interest despite the challenges posed by recent fluctuations.

Furthermore, CryptoQuant analysts suggest that he The cryptocurrency could see a significant rally and even regain its previously established peak based on “solid fundamentals, including an active development team and an active network.”