Toncoin’s price has risen in tandem with Bitcoin’s continued hovering just above $67,000. Meanwhile, Ethereum’s price has remained near $3,500, making the altcoin’s surge commendable relative to the top two cryptocurrencies by market capitalization. The price gains signify an improvement, with the average price at which all 21.49k TON addresses acquired tokens aligning with the current price.
This marks a significant leap from a year ago when over 90% of Toncoin (TON) addresses were out of the money or in a loss, as TON’s price hovered around $1.40. The improvement in the profitability metric is attributed to Toncoin’s substantial growth over the past year. Data from IntoTheBlock reveals that addresses with balances grew from approximately 5,800 in mid-June 2023 to over 20,870 on June 10.
Concurrently, addresses holding less than 10 TON tokens more than doubled in the past three months, surging from about 4,900 in March to over 10,000 by June 10. In terms of ownership distribution, retail holders currently account for approximately 39.9% of the supply, while whales hold 30.5% and investors hold 29.5%. The surge in address count is accompanied by The Open Network (TON) blockchain and the native token Toncoin benefiting from several positive network catalysts.
