The Toncoin ($TON) community has witnessed a sudden and almost vertical growth in its price over the last year. However, there exists a revealing layer of data behind this price action. When we take a deeper look into the on-chain data of Toncoin, especially the distribution of its cost basis among holders across the network, a much clearer picture of its current price level and future price action emerges. The following are four crucial levels where large amounts of supply are concentrated. At the core of this distribution lies one especially interesting detail: a solitary investor or perhaps a coordinated group seems to control a gigantic stake of 863 million TON tokens. This impressive accumulation looks to have happened over an extended period of time and within the confines of a disciplined, stable investing strategy. All of this opens up a lot of intriguing possibilities short-term and long-term alike for both the price of TON and the network itself. Understanding the Four Major Cost Basis Zones Current statistics show that the supply of Toncoin is concentrated significantly in four particular cost basis categories: $2.01 to $2.05: 1.32 billion TON $2.18 to $2.22: 535 million TON $2.91 to $2.98: 863 million TON $3.83 to $3.87: 261 million TON Areas where investors have historically accumulated tokens are represented by these ranges. And since they have acted in the past as both psychological and technical price barriers, it’s likely that they will continue to do so. For instance, if the price of TON were to dip into one of these zones, it might very well run into buying support from holders looking to defend their entry points. Conversely, as upward price action continues, these same levels might act as resistance, with investors who bought in at these price points now looking to take profits or at least not looking to add to their positions. Such cost clustering is typical in a developing crypto ecosystem, where a wide distribution of token holders begins to define a market. As Toncoin keeps growing, the levels it is currently at will likely serve as important references for traders and long-term participants in the market. The 863 Million TON Position: A Strategic Power Player? Out of the four zones, the $2.91–$2.98 range stands out—not just because of the high volume, but because of the behavior of the entity associated with it. An estimated 863 million TON tokens are held within this band, and analysis suggests this holding is controlled by a single investor or a tightly coordinated group. Consistency over time in the behavior of this holding makes it particularly interesting. Cost Basis Distribution for $TON reveals four key supply clusters: • $2.01–2.05 (1.32B TON) • $2.18–2.22 (535M TON) • $2.91–2.98 (863M TON) • $3.83–3.87 (261M TON) These levels represent zones of investor cost concentration – potential support/resistance. pic.twitter.com/bYtfLOsMgF — glassnode (@glassnode) June 25, 2025 In contrast to typical whale behavior—where large players often sell into price rallies or exit positions during market stress—this investor has shown remarkable discipline. The wallet activity indeed mirrors the general TON price trend over several years, without succumbing to local tops or panic-selling during corrections. This kind of unwavering capital allocation really does point to a long-term strategic outlook that sees Toncoin as a core infrastructure investment rather than a short-term speculative play. If this interpretation is correct, it points to confidence in the long game being played by Toncoin, which is seen as having real long-term utility and growth potential. And it may also tell us something about large parts of its circulating supply—whatever share of it that isn’t held by the project team or used to run validators—which are, if not technically locked, then psychologically locked. Strategic Implications for Traders and Long-Term Holders For traders, grasping the clusters of cost basis is more than just an academic pursuit. They provide actionable intelligence on possible problem areas and opportunity zones. For instance, if Toncoin were to drop back to the $2.91–$2.98 range, the knowledge that a long-term investor has 25% of their portfolio in that range would suggest that level is likely to hold; i.e., it would be a good place to back up the truck and buy. Conversely, any sustained move above $3.87 could be seen as a move into new territory, and if you’re a trader, that’s what you want to look for. For holders in it for the long term, these patterns are also reassuring. The presence of large, disciplined investors provides a layer of stability to Toncoin’s market structure. It suggests that the token isn’t merely being driven by short-term speculation, but is supported by capital that is betting on its sustained growth and real-world adoption. A multilevel base of investors—that is, a layer of investors almost like a layer of sediment—is important for mature ecosystems. This was something we at Electric Coin Company had in mind when we built the base of the investors we have today. The framework started with friends and family at the top—investors who feel close to the project. Next were accredited investors, who are more removed but still feel a kinship because of the strong relationships we have with them. Both of these investor types bring their ballast to the project. Conclusion The cost basis distribution of Toncoin provides not just historical context but also a narrative about market maturity, disciplined capital, and an emerging structure. For investors and analysts who are trying to find meaningful signals in the noise of the crypto market, the concentrated accumulation zones of TON and the presence of long-term holders might just be the clearest indicators of all. They tell us much about the future of this project. Anchored to identifiable price ranges, the billions of tokens that compose Toncoin mean its future market moves could be less random than they appear and—perhaps—more strategic. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
