- Toncoin sees an average of 500,000 new holders every day.
- Holder grew but struggled to remain profitable.
Toncoin (TON) has seen impressive growth since its launch, and there are signs that it could eventually surpass Ethereum (ETH) in terms of number of holders.
Latest data shows that the number of Toncoin holders is steadily increasing, suggesting that the number of Toncoin holders may surpass that of Toncoin holders by the end of the year. However, while the number of holders has increased rapidly, profitability has shown a downward trend, leading to mixed asset outlook.
Toncoin holders increase rapidly
According to CryptoQuant, Toncoin has experienced significant growth in its holder base. From March 15 to October 17, the number of TON holders jumped from approximately 7.12 million to approximately 108 million.
This growth rate significantly outpaces Ethereum, which holds steady at around 137 million holders. Analysis shows that TON is currently adding approximately 500,000 holders per day.
Source: CryptoQuant
If this continues, Toncoin could surpass Ethereum’s holder count by December. Although at a slower pace, this milestone is expected to be achieved within the next year, indicating that TON may soon have more holders than ETH.
Profitability assessment for Toncoin holders
A rapid increase in the number of holders does not necessarily mean high profitability for all Toncoin investors. IntoTheBlock’s analysis of global fund deposit and withdrawal charts shows that many Toncoin holders are currently experiencing losses.
Currently, approximately 75.43 million addresses, or 80.70% of all holders, are classified as Out of the Money.
Conversely, only about 13.16 million addresses, or 14% of holders, are “In the Money” (profitable) and the remaining 5.22% are broke.
In comparison, Ethereum’s indicators show a more favorable outlook for profitability. With over 67% of current Ethereum holders “In the Money” and 29% “Out of the Money,” recent data suggests that ETH is becoming a more profitable asset for holders. It is done.
Toncoin’s current market position
Toncoin traded around $5.04, up slightly on the day but remaining below its 50-day moving average of $5.388. This puts TON in a medium-term bearish trend.
The relative strength index (RSI) is 43.54, suggesting neutral to slightly oversold conditions and could be a sign of upside potential if buying interest increases.
Source: TradingView
The Chaikin Money Flow (CMF) indicator was 0.13, reflecting positive fund flows, indicating some accumulation in the market. For TON to turn into a bullish trend, it needs to break above its 50-day moving average.
Failing to maintain upward momentum, TON could continue to consolidate around the current price or potentially test lower support levels near $4.90.
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Overall, while Toncoin’s holder growth is notable, profitability remains a concern. Market performance in the coming weeks will largely depend on whether it can overcome this level of technical resistance and attract sustained investor interest.