Toncoin wallet profitability falls to 65%

Toncoin (CRYPTO:TON) has seen a significant decline in wallet profitability amid increasing market volatility, with only 65% of addresses currently in profit. 

This represents a sharp decrease from the 90% peak recorded just a week ago.

Recent data from IntoTheBlock reveals that 25% of Toncoin wallets are now at a loss, while 11% remain at breakeven. 

This shift underscores the turbulence in Toncoin’s market price, which has affected many holders' profitability.

Ownership trends indicate that a majority of Toncoin holders—85%—have held the asset for less than a year, with 12% acquiring it within the past month. 

Long-term holders, those who have held Toncoin for over a year, account for only 3%, suggesting that short-term traders dominate the ecosystem.

In terms of trading activity, an interesting geographic pattern has emerged, with 61% of Toncoin transactions occurring during Western trading hours and 39% during Eastern hours. 

Over the past week, the network recorded over $51.97 billion in high-value transactions exceeding $100,000.

The cryptocurrency's market capitalization now stands at $15.12 billion, and trading volume surged by 142%, reaching $779.6 million.

This indicates sustained market interest despite the recent price fluctuations.

Analysts from CryptoQuant suggest that Toncoin could experience a meaningful rally and potentially reclaim its previous peak due to strong fundamentals, including an active development team and a vibrant network.

At the time of reporting, the Toncoin price was $5.96.