Ton in Numbers: October Recap

Key Events of the Month

October 2024 turned out to be a true stress test for Toncoin. It started with several massive token airdrops, prompting a flood of newcomers who, upon receiving their free coins, rushed to sell them off immediately. The result? An excess supply flooded the market, and Toncoin's price felt the weight of all those quickly sold tokens.

Not to be outdone, the whales - large token holders who seemed to need "a little" extra cash - staged periodic sell-offs, ramping up volatility and stirring fear among smaller investors. This month, active whale sales became a major stumbling block for Toncoin's stability.

As if that wasn’t enough, the "death cross" emerged - a signal of the 50-day moving average crossing below the 200-day average, usually sounding an alarm for traders: "Warning, the market is falling!" The impact was immediate: even more sell-offs, as many took it as a sign to exit.

Adding fuel to the fire, the overall crypto market was also in turmoil, with economic and macroeconomic factors making everyone cling tighter to their assets. All of this created an atmosphere of nervous anticipation for Toncoin, giving the market a great opportunity to test its resilience under pressure.

Price Dynamics, Market Capitalization, and Trading Activity

October 2024 was a month of intense price swings for Toncoin. It started calmly enough, with Toncoin hovering around $5.10 and trading volumes at a “normal but not spectacular” level. However, by mid-month, Toncoin had dropped to a low of $4.75, with market capitalization falling to $7.8 billion.

During this period, there was also a peak in activity: trading volumes surged as everyone began offloading tokens, flooding the market with supply and increasing volatility. Toward the end of the month, things calmed down - large sellers took a break, and Toncoin began to recover. The price returned to $5.20, and the market capitalization rose to $8.1 billion.

Toncoin Holder Behavior Analysis

October 2024 saw a significant reshuffling among Toncoin holders. Following Telegram’s massive airdrops, the network saw a fresh influx of holders, many of whom promptly sold off their coins, creating a wave of short-term pressure on the market. While temporary speculators caused quite a stir, attention gradually shifted to long-term investors and large holders who truly influence Toncoin’s stability.

Mid-month saw the rise of the "cruisers" - holders who decided to stick with Toncoin for the "medium term." Their share impressively jumped from 39.55 million tokens at the beginning of the month to 75.04 million by the end. This shift suggests that many addresses have become more committed to holding their coins, helping stabilize the market after the wild swings in early October.

Meanwhile, "traders" - those who actively trade and profit from every spike and dip - quieted down. Their activity dropped from 42.21 million tokens to 16.52 million by month’s end, likely because the airdrop buzz had subsided, and the short-term profit seekers decided to take a break.

Finally, "holders" - the true long-term believers in Toncoin’s bright future - increased their positions from 2.51 million to 2.61 million tokens. These steadfast holders stick to a "through any storm" strategy, undeterred by volatility.

These shifts indicate that Toncoin is gradually developing a more mature holder structure. The growing share of "cruisers" and "holders" promises to make the market more resilient and less prone to sharp fluctuations in the future.