The profitability of # Toncoin (TON) wallets has taken a substantial hit, with only 65% of wallets currently in profit, compared to a peak of 90% just a week ago. This sharp decline points to changing market dynamics surrounding the cryptocurrency. Recent data indicates that 25% of Toncoin wallets are now operating at a loss, while 11% are breaking even. This downturn underscores the heightened market volatility impacting Toncoin’s price, leading to reduced profitability for its holders. A breakdown of wallet ownership reveals that the majority of Toncoin holders—85%—have been invested for less than a year. Among them, 12% acquired the coin within the last month, and only 3% have held Toncoin for over a year. This data highlights a trend of short-term speculation among most investors. Transaction patterns show that 61% of Toncoin trades occur during Western trading hours, with the remaining 39% happening during Eastern trading hours. Toncoin TON Price Action To Monitor High-value transactions have been a notable feature over the past week, with over $51.97 billion in transfers exceeding $100,000. However, despite this activity, Toncoin’s price has dropped by 4.5% in the last 24 hours, currently trading at $6.41. Toncoin Wallet Profitability Plummet Amid Surging Market Volatility The percentage of #Toncoin (TON) wallets currently in profit has dropped to 65%, a significant decrease from the 90% peak recorded just a week ago. This decline suggests a shift in the market dynamics… pic.twitter.com/vSLMOVqqUU — THE TON REPORT (@TheTONReport) December 9, 2024 Toncoin’s market capitalization stands at $16.35 billion. Meanwhile, trading volume has surged by 27% during this period, reaching $333 million. These figures suggest that, despite recent challenges, Toncoin remains an active market player, with significant trading activity continuing to shape its trajectory. This recent dip in profitability and price highlights the unpredictable nature of Toncoin’s market, leaving investors to navigate fluctuating conditions in pursuit of potential gains. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
