Bitcoin price continues to hover just above $67,000, while Ethereum is hovering around $3,500. Despite this, Toncoin price has risen impressively, achieving a larger breakout compared to these two crypto giants. It rose more than 7% to an all-time high of $8.13 on Friday.

This price increase also reveals the tremendous progress made by TON compared to a year ago. In June 2023, when the TON price was around $1.40, more than 90% of the addresses were losing money.

According to IntoTheBlock data, there are currently around 21.49 thousand TON addresses. When the Toncoin price reached its all-time high, the average purchase price of these addresses was compared with the current price and an interesting result emerged: All addresses are “profitable.”

This is an indication of the tremendous growth that TON has achieved in the last year. IntoTheBlock data shows that the number of addresses with balances increased from approximately 5,800 in mid-June 2023 to over 20,870 by June 10, 2024. This marks both an increase in the number of users and a rise in investor interest.

Another important development in Toncoin is the change in ownership structure. Currently, retail investors account for approximately 39.9% of the supply. This rate has increased significantly compared to a year ago. At the same time, the ownership rate of large investors, called “whales”, has fallen to 30.5%. This shows that interest in Toncoin is spreading to an increasing number of investors.

Various positive factors lie behind this rise of Toncoin. One of these is Telegram’s support for TON in its ad sharing program for channel owners. This move increased the interest in cryptocurrency by expanding TON’s usage areas.

Another important catalyst has been campaigns such as the Open League and the recent rapid rise of Notcoin (NOT). These developments show that the TON ecosystem is gaining positive momentum in general.

Toncoin’s recent price increase and change in ownership structure give positive signals for the future. Rising prices, increasing number of users and interest from retail investors show that TON’s potential is being realised.

However, there is no guarantee of long-term success. In order to consolidate its place in the market, TON needs to focus on issues such as increasing the security of the network, developing new use cases and further growing the ecosystem.

If Toncoin continues down this path, the cryptocurrency could see further upside in the future.