Toncoin , the native cryptocurrency of The Open Network, is experiencing a notable price recovery, approaching the $4 mark. This upward movement is largely attributed to a significant increase in staking inflows and heightened activity among large holders, commonly referred to as ‘whales’.
In the past week, Toncoin’s price has rebounded, nearing the $4 threshold. This resurgence aligns with a substantial inflow of approximately $250 million from large holders over a 72-hour period, indicating strong confidence among major investors. Additionally, the cryptocurrency has maintained a remarkably low volatility, with a mere 2% trading range over a 12-day span, suggesting a period of consolidation and potential for further upward movement.
Staking participation has also seen a significant uptick. Currently, around 29% of the total Toncoin supply, equating to approximately 727.1 million TON, is staked, offering an estimated annual reward rate of 4.71%. This increase in staking activity reflects a growing trend among investors seeking stable returns through staking mechanisms, thereby reducing the circulating supply and potentially contributing to price appreciation.
Despite a decline in Total Value Locked within Toncoin’s decentralized finance ecosystem, the rise in staking suggests a shift in investor behavior towards more secure and predictable returns. This trend is further supported by a steady increase in active addresses holding Toncoin, indicating a broader engagement within the network.
Arabian Post – Crypto News Network
