TON Daily Active Wallets Rise While 80% Holders Face Losses

At the current price of $4.63, a sobering 86% of TON holders are facing losses, with only 9% currently in profit. Furthermore, a mere 5% are at break-even. This data paints a picture of widespread negative sentiment within the TON community.

The current state of the TON market presents a fascinating paradox. While data from IntoTheBlock reveals an increase in daily active wallets, a stark reality emerges – a vast majority of TON holders are experiencing losses.

Moreover, adding to this challenging picture is the longevity of holdings. The report highlights a lack of long-term commitment, with a significant 62% of TON wallets holding the cryptocurrency for less than a year.

Over the last 24 hours, it has experienced a 1.03% inconsistent increase in market capitalization, according to CoinmarketCap.

Additionally, 33% of wallets have held the coin for less than a month, signifying a recent influx of investors potentially entering a market already grappling with losses.

However, amidst the bearish landscape, a glimmer of optimism emerges from the increased daily active wallets. The emerging increase suggests an active and engaged user base, potentially driven by new developments or increased interest within the TON ecosystem.

TON Records a New Lower Low

Examining the exchange netflow provides further insight into market dynamics. Over the past 24 hours, a negative net flow of $1.7 million was recorded, indicating that more TON was withdrawn from exchanges than deposited.

The movement from exchanges to self-custody wallets suggests a shift towards holding, potentially driven by a belief in TON’s long-term potential. While short-term price action remains uncertain, this data point provides valuable context for understanding market sentiment.

Notably, the current landscape for TON is a complex one, marked by both challenges and opportunities. While the majority of holders are currently facing losses and the longevity of holdings remains a concern, the increase in daily active wallets and negative exchange netflow signal a potential shift towards holding.