TON Holders Soar to 90 Million, Marking 2400% Growth

• TON’s token holders surged 2400% in 2024, surpassing 90 million by October.  
• Despite volatility, TON’s trading volume peaked in September 2024, showing strong activity.  
• Technical indicators suggest potential bullish momentum, with RSI signaling increased buying pressure.

TON has exploded in popularity in 2024, with the number of token holders skyrocketing by 2400%. As of October 2024, there are over 90 million $TON holders, showing the platform’s rapidly growing user base.

Token holder distribution of $TON has grown by 2400% this year, as the total number of $TON holders now stands at 90M. pic.twitter.com/0fLyOi1PRS

— Jesse Trading (@TradeWithJesse)
October 14, 2024

Steady Growth in Token Holders, Sharp Rise Since June

The number of TON holders has steadily increased from January to October 2024, with a significant jump starting in June. By October, the number of token holders exceeded 84 million.

Source:
Jesse Trading

TON’s trading volume has been more volatile, with notable spikes in mid-March, late July, and September. The highest trading volume occurred in September, topping $2.4 billion. Even with a dip after this peak, trading volume remains high compared to earlier months.

TON’s Current Market Performance

As of press time, Toncoin (TON) was priced at $5.28, reflecting an increase of 0.60% over the past day. The token’s market capitalization stands at $13.40 billion, driven by the circulating supply of 2.54 billion tokens. 

Toncoin’s price initially climbed above $5.30 before falling in the afternoon, followed by a late recovery. Despite a downward trend since its mid-July peak of $8.50, the token has shown signs of recovery in recent weeks.

Read also: Toncoin Surges 342% in 2024, Analysts Eye $20 Target

Source:
CoinMarketCap

After dropping to around $4.50, the price has rebounded to $5.29. The recent formation of green candles suggests growing bullish momentum. However, it’s still uncertain whether this is a short-term bump or the start of a longer uptrend.

The MACD has recently shown a bullish crossover, with the MACD line moving above the signal line.

Source:
TradingView

Moreover, the RSI has moved to 52.10, indicating the market is neither overbought nor oversold and suggesting a neutral to bullish outlook as buying pressure increases.

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