Toncoin (TON) has reached a significant milestone recently, with all addresses holding the token currently in a profitable position. Data from IntoTheBlock indicates that 100% of TON addresses are in profit as the price approaches $8.00. This achievement comes as Toncoin’s price surged by more than 7% on Friday, reaching an all-time high of $8.13.
The impressive price gains of Toncoin are noteworthy, especially when compared to other top cryptocurrencies like Bitcoin and Ethereum. While Bitcoin was trading just above $67,000 and Ethereum around $3,500, Toncoin managed to stand out with its remarkable performance.
The increase in profitability among TON addresses is a stark contrast to a year ago when over 90% of addresses were facing losses as the price struggled around $1.40. The significant growth in profitability can be attributed to the substantial increase in the number of addresses holding Toncoin.
Data from IntoTheBlock shows that the number of addresses with TON balances has grown significantly over the past year, from approximately 5,800 in mid-June 2023 to over 20,870 by June 10. Particularly notable is the doubling of addresses holding less than 10 TON tokens, rising from about 4,900 in March to over 10,000 by June 10.
In terms of ownership distribution, retail holders currently make up about 39.9% of the total supply, while whales hold 30.5% and investors hold 29.5%. This distribution reflects a diverse range of participants in the Toncoin ecosystem.
The growth in the number of addresses holding Toncoin can be attributed to various positive catalysts within The Open Network (TON) blockchain. Initiatives such as Telegram’s support for TON in its ad share program for channel owners, along with campaigns like the Open League and the recent surge in Notcoin (NOT) prices, have all contributed to Toncoin’s upward momentum.
Overall, Toncoin’s recent achievement of having all addresses in profit showcases the cryptocurrency’s strong performance and growing popularity among investors. As the cryptocurrency market continues to evolve, Toncoin remains a token to watch for potential future growth and developments.