The post Will Toncoin’s latest ‘record’ make any difference to its price trend? appeared on BitcoinEthereumNews.com.

TON registered its highest number of active addresses TON’s MVRV, at press time, was well below zero, underlining losses for some holders Toncoin (TON) has recently seen notable spikes in key metrics, largely influenced by developments surrounding Telegram’s founder. One significant metric that saw a spike was the number of active addresses on the Toncoin network. At press time, data indicated that the number of active addresses has remained high. On the contrary, the overall trend for Toncoin (TON) has remained bearish. A historical number of active addresses According to data from CryptoRank, Toncoin (TON) saw a significant spike in active addresses on 26 August. This surge in activity was so significant that the number of active addresses surpassed the combined active addresses of Bitcoin and Ethereum on that day. The spike was primarily triggered by the arrest of Telegram’s founder, with the same causing panic and heightened market activity within Toncoin’s community. Further analysis using data from IntoTheBlock confirmed this spike, highlighting that the number of active addresses on Toncoin’s network climbed to over 440,000 on 26 August. The heightened activity did not immediately subside though. Instead, it continued to climb. And by 29 August, the number of active addresses had surpassed 600,000. This marked the highest level of active addresses in Toncoin’s history. Also, according to CryptoRank, the seven-day active addresses on the network crossed 3 million. This number was more than Ethereum’s, with only Bitcoin surpassing it with 3.7 million.  TON’s price struggles continue A recent analysis of Toncoin’s (TON) price trend indicated that the cryptocurrency has struggled to recover from the decline it saw. In fact, despite some brief uptrends on 27 and 28 August, TON has been unable to sustain this momentum. This has led to consecutive declines in subsequent trading sessions. AMBCrypto’s analysis revealed…

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Filed under: News - @ September 1, 2024 5:02 am