Toncoin Liquidity and User Activity Reviewed by Analyst: Insights on Market Impacts

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As a seasoned crypto investor with over a decade of experience navigating the volatile digital asset landscape, I find myself intrigued by Toncoin (TON) and its recent market dynamics. The steady growth in total supply and the significant fluctuations in circulating supply, as highlighted by CryptoQuant analyst Shiven Moodley, are indicative of a maturing ecosystem with increasing user engagement.

toncoin (TON) has experienced significant shifts in its market behavior, primarily due to fluctuations in supply and increased interaction among users within its network.

Based on a recent assessment by Shiven Moodley, an analyst at CryptoQuant, the total number of TON tokens has been gradually increasing. Initially, it was roughly 5.01 billion tokens, but now it’s estimated to be about 5.1 billion tokens.

This growth occurs concurrently with substantial modifications in the available supply, notably characterized by a steep decrease around early 2024, which is mainly due to lockups and staking processes taking place within the system.

According to Moodley’s explanation, fluctuations in the available supply indicate an evolution in TON’s market liquidity, as well as a growing tendency among users to participate in staking and long-term asset retention.

Layer One And Layer Two Comparisons: TON’s Position And Future Outlook

Moodley’s examination further emphasized that interactions within the TON network, particularly on the Masterchain and Workchain, play a significant role in boosting user participation.

Particularly, these applications and games like Hamster Kombat, DOGS, and Catizen, which are available on the blockchain platform, have significantly contributed to a surge in trading transactions.

As a researcher, I delved into examining TON’s standing among other notable altcoins and blockchain ecosystems. I noted that during the past six months, TON transactions have generally moved at a steady pace, with occasional surges linked to airdrops for games on the network.

Based on my extensive experience in analyzing various blockchain networks, I firmly believe that TON stands out as a robust layer-one network, demonstrating remarkable consistency compared to its closest competitor, Arbitrum. As a seasoned crypto analyst, I’ve observed that TON’s steady transaction activity sets it apart and positions it for long-term success in the dynamic world of blockchain technology.

This growing user base would likely switch trader psychology towards holding over the medium to long term, reducing market liquidity in the TON ecosystem.

Significantly, Moodley’s suggestion implies that a decrease in market liquidity within the TON ecosystem might occur due to more users choosing to keep their tokens staked for longer durations and participating in network activities.

Toncoin Market Performance

So far, Toncoin has gained significantly due to the continuing market uptrend. Over the past week alone, its price and market value have surged noticeably, with an impressive rise of over 15%.

This double-digit increase in the past week has seen TON’s market cap reach above $13.8 billion, and its price trading for $5.41, at the time of writing, has risen by 1.4% in the past day.

It’s worth noting that although the value has risen significantly, TON’s daily trading volume appears to have decreased since it was over $1 million on November 12th, now standing at approximately $679 million.

Despite some concerns, there’s still a great deal of enthusiasm within the cryptocurrency community for altcoins. As an example, a well-known crypto analyst, CryptoBullet, has forecasted a potential price range of $12 to $15 for Toncoin.

$TON #Toncoin Macro chart
(chart request)

It’s interesting to note that #TON is currently testing previous resistance levels as potential support. I believe this downtrend might be nearing its conclusion, and we could see the start of Wave 5 shortly.

Target Zone: $12-15

— CryptoBullet (@CryptoBullet1) November 5, 2024

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2024-11-14 08:11