Toncoin Faces Centralization Concerns As Active Users Drop And Wallets Suffer Losses

According to data from @intotheblock, daily active users on the Ton Blockchain have drastically fallen from 5 million to around 1 million.

As of today, Toncoin is valued at $5.16, with only 13.80% of wallets currently profitable, translating to about 12.62 million wallet addresses seeing gains.

In contrast, a significant majority—74.73%, or 68.38 million wallets—are operating at a loss, while another 11.47% (10.5 million wallets) are breaking even.

🚨 UPDATE:

📢 According to @intotheblock, Ton Blockchain’s daily active users have dropped from 5 million to approximately 1 million. ⚠️#IntoTheBlock #TonBlockchain $TON #investment #trade #finance

— Fernando Ross (@ross_ro431) October 23, 2024

Less Ton Wallets Are Currently On Profits 

A closer look at active addresses reveals that approximately 1.33 million wallets are actively engaging with Toncoin. However, only 9.22K wallets, or 0.75%, are showing profits at the current price.

On the flip side, 30.87% (380.93K wallets) are in the red, while a large share—68.39% (843.93K wallets)—are breaking even.

𝐓𝐨𝐧𝐜𝐨𝐢𝐧 𝐏𝐫𝐨𝐟𝐢𝐭𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐚𝐧𝐝 𝐂𝐞𝐧𝐭𝐫𝐚𝐥𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐂𝐨𝐧𝐜𝐞𝐫𝐧𝐬

As of today, Toncoin is valued at $5.16, with just 13.80% of its wallets currently profitable.

This translates to around 12.62 million wallet addresses seeing gains.

However, the… pic.twitter.com/IaKuqA1c9m

— THE TON REPORT (@TheTONReport) October 24, 2024

The distribution of Toncoin holdings points to potential centralization issues within the network. A vast majority of wallets—99.68%—hold between 0-10 Toncoin, indicating that most users have small amounts. In stark contrast, just 0.25% of wallets, or around 233.98K, hold between 10-100 Toncoin. The disparity becomes even more pronounced when looking at large holdings, with only a few addresses controlling between 100 million and 1 billion Toncoin, and one wallet holding over 1 billion.

This skewed distribution raises concerns about centralization, where a small number of wallets control a substantial portion of the Toncoin supply. As the project grows, these power dynamics and the concentration of wealth within the network will likely be a point of scrutiny for the community and market analysts, potentially impacting the future of Toncoin’s ecosystem.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.

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