Is TONcoin Playing Hard to Get? 🙄🚀

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Hey there, cryptocurrency enthusiasts! While everyone’s favorite digital money seems to be on the mend, our dear TONcoin (TON) is still playing hard to get. 😜 Over the past week, TON’s price has taken a nosedive, losing 5.4% like it’s going out of style.

But wait, there’s hope on the horizon! Our CryptoQuant guru, Joao Wedson, spotted some tea leaves in the open interest data that could mean a comeback story for the ages. 🎉✨

TONcoin’s Open Interest Drama 🎭

Joao, in his latest post, “TON: Signs of a Reversal?” (sounds like a thriller, right?), noticed a peculiar pattern in the open interest data that could signal TON’s price is about to make a grand entrance.

Historically, when TON gets all volatile, the open interest delta goes up, which usually precedes a price surge. Could history repeat itself? 🤔👀

TON’s Market Performance: The Good, the Bad, and the Ugly

While other cryptocurrencies are basking in the glory of gradual gains, TON’s price action has been less than impressive. In fact, it’s been downright gloomy, with a 11% drop over the past two weeks.

On-chain data from @santimentfeed shows that TON has seen significant transfers to exchanges, indicating that someone’s got the sell button on speed dial. 😬

But hey, TON is still hanging in there at $4.84, up 0.4% on the day. It’s a start, right? Although, let’s be real, it’s not exactly a red carpet moment for TON’s market cap and daily trading volume.

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2025-01-31 05:11