THE TON REPORT’s on-chain data provider IntoTheBlock’s latest The Open Network (TON) data reveals a painful scenario for the popular altcoin. According to the data, the vast majority of Toncoin (TON) investors are waiting in loss.
86% of Toncoin Investors Are in Loss
IntoTheBlock‘s data shows that currently, 86% of wallet addresses on the Toncoin network, which is trading around $4.8, are in loss. Only a small portion, 9% of wallet addresses, are in profit, and 5% are at breakeven. These figures reflect extremely painful conditions for investors in the Toncoin market.
The data also sheds light on the holding pattern among TON investors. Only 5% of wallet addresses on the TON network have held the altcoin for more than a year without selling, indicating a very low number of long-term investors in TON. On the other hand, 62% of wallet addresses have held TON for less than a year, showing that most investors have relatively recently entered the market.
Additionally, 33% of wallet addresses have held TON for less than a month. This data particularly indicates that one in three investors purchased the altcoin at higher prices compared to current prices, suggesting a significant influx of new investors.
Pavel Durov’s Arrest and Bitcoin’s Decline Deeply Shook TON
The arrest of Russian entrepreneur Pavel Durov, co-founder of the Telegram app, in France and the decline in Bitcoin have indicated tough market conditions for Toncoin. The high percentage of investors in loss reflects the broader market trend where recent price movements have led to significant unrealized losses for many investors. The data suggests that a patient approach is necessary for investors holding TON in the long term during this turbulent market period.
According to CoinMarketCap data, TON’s price was trading at $4.82 with a 4.62% increase in the last 24 hours at the time of the news preparation. However, it is worth noting that the altcoin has fallen by over 16% in the last month.
