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Toncoin jumps to all-time high: TON addresses in profit hits 100%

toncoin-jumps-to-all-time-high-ton-addresses-in-profit-hits-100
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Toncoin jumps to all-time high: TON addresses in profit hits 100%

Toncoin (TON)’s In/Out of the Money data shows all the addresses currently holding the Telegram-related token are in profit.

According to data from IntoTheBlock, 100% of addresses with a TON balance are profitable as price hovers near $8.00.

Toncoin’s price rose as Bitcoin continued to hover just above $67,000, while Ethereum price ranged near $3,500, making the altcoin’s surge an impressive one compared to the top two by market cap.

100% TON addresses in profit as price hits an all-time high

Toncoin price rose more than 7% on Friday to reach an all-time high of $8.13.

The price gains means a comparison of the average price at which all the 21.49k TON addresses acquired tokens and the current price had all of them “In the Money.”

This is a big jump from a year ago when more than 90% of Toncoin (TON) addresses were out of the money or in loss as TON price hovered around $1.40. The jump in the profitability metric comes as Toncoin witnessed tremendous growth in the past year.

Per data from IntoTheBlock, addresses with balances grew from around 5,800 in mid-June 2023 to over 20,870 on June 10.

Meanwhile, addresses with less than 10 TON tokens more than doubled in the past three months, increasing from around 4,900 in March to over 10,000 by June 10.

In terms of ownership, retail holders currently account for about 39.9% of supply, while whales hold 30.5% and investors 29.5%.

A jump in address count has come as The Open Network (TON) blockchain and the native token Toncoin benefitted from a confluence of positive network catalysts.

Apart from Telegram’s support for TON in its ad share program for channel owners, campaigns such as the Open League and the recent parabolic gains for Notcoin (NOT) have all aided the cryptocurrency’s upward momentum