Toncoin (TON) has recently surged in value due to favorable market conditions. The price boost is backed by a rounded bottom formation, indicating strong recovery. This positions TON among the top-performing altcoins currently.
Why Are Most Toncoin Investors Profitable?
According to IntoTheBlock data, 83.76% of TON investors are now profitable. At the current trading price of $6.75, the average purchase price sits at $1.76. A mere 0.66% of investors face a loss, while others break even. Profitable investors collectively hold assets valued at around $28.25 billion, reflecting confidence in the TON ecosystem. Access COINTURK FINANCE to get the latest financial and business news.
Over the last 24 hours, Toncoin prices have shown significant volatility. As of August 19, TON’s price stood at $6.75, marking a 5% rise during European trading hours. CoinMarketCap data reveals that trading volume surged by 141% within this period, indicating heightened investor interest. Toncoin’s market cap ranks it 8th, currently valued at approximately $17 billion.
Can Toncoin Reach the $10 Mark?
The ongoing price hike suggests potential for further increments. If this trend continues, TON could surpass $7, and with sustained momentum, it may even break the $10 barrier.
Technical indicators on the 4-hour chart reveal a strong upward trend for Toncoin. The MACD indicator signals bullish activity, with the MACD line crossing above the signal line and rising histogram bars, indicating solid bullish momentum.
Coinglass data supports this bullish trend, showing a 254.04% increase in futures trading volume to $620.43 million. Open interest also rose by 9.08% to $274.02 million, confirming growing investor interest in Toncoin.
Concrete Inferences
Based on current data, here are some actionable insights for investors:
- 83.76% of investors are currently profitable, indicating strong market confidence.
- Trading volume increased by 141%, showing heightened interest and activity.
- TON’s market cap positions it as the 8th largest altcoin, enhancing its credibility.
- MACD indicators and rising histogram bars suggest continued bullish momentum.
- Coinglass data shows a significant increase in futures trading volume and open interest.
However, market fluctuations should be watched carefully. If a downturn occurs, TON’s price may stabilize around $6.7 or drop to approximately $6.5.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Source: https://en.bitcoinhaber.net/toncoin-prices-rise-significantly