Toncoin (TON) In/Out of the Money data shows that all 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 the price is around $8.00.
Toncoin’s price rose as Bitcoin continued to hover just above $67,000, while Ethereum’s price hovered around $3,500, making the altcoin’s surge impressive compared to the top two by market cap.
100% TON aims for profit as the price reaches an all-time high
The price of toncoin rose more than 7% on Friday, reaching an all-time high of $8.13.
The price increases indicate a comparison between the average price at which all 21.49k TON addresses acquired the tokens and the current price had them all “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 at a loss as the price of TON hovered around $1.40. The jump in profitability metrics comes as Toncoin has witnessed tremendous growth over the past year.
According to data from IntoTheBlock, addresses with balances grew from around 5,800 in mid-June 2023 to more than 20,870 on June 10.
Meanwhile, addresses with less than 10 TON tokens have more than doubled over the past three months, rising from around 4,900 in March to over 10,000 by June 10.
In terms of ownership, retail holders currently account for around 39.9% of supply, while whales hold 30.5% and investors 29.5%.
An increase in address counts occurred as The Open Network (TON) blockchain and native token Toncoin benefited from a confluence of positive network catalysts.
Aside from Telegram’s support of TON in its ad sharing program for channel owners, campaigns like Open League and the recent parabolic gains for Notcoin (NOT) have all aided the cryptocurrency’s bullish momentum
