TON price saw a significant increase in the last 24 hours, despite some concerning trends within the network. The cryptocurrency market has been volatile, with TON outperforming many other assets in recent months. The price of TON jumped by 17.74% in the last day, showing signs of a possible trend change.
The launch of Nocoin, a community token, brought users to the web3 platform through a tap-to-earn mining mechanic, which contributed to the price increase. However, issues within the TON network have also emerged. The growth in network activity has slowed, with new addresses showing less interest in the token.
Despite the increase in prices, factors such as a decrease in velocity and revenue generated by the protocol raise concerns about TON’s long-term stability. The MVRV index suggests that addresses are becoming profitable, which could lead to a potential negative impact on the token’s price.
On a positive note, the Long/Short ratio of TON has increased, indicating more long-term holders. This could provide stability amidst market fluctuations. Overall activity on the network increased, but revenue fell, highlighting potential challenges for TON moving forward.
Investors are advised to stay informed on TON’s developments and monitor key levels closely in the coming days.