Open Network’s TON had a blistering rally this year, exceeding Bitcoin’s price by roughly 120%. CryptoQuant’s latest analysis shed light on which investor groups are optimistic about TON and which are more pessimistic, guiding users to make informed decisions regarding price movements. Gauging the relative price performance across multiple trading sessions, the data platform discovered that American investors are the most bullish on TON.
The Open Network (TON) Token currently stands as one of the most popular layer-1 cryptocurrencies. Since the beginning of the year, its price has surpassed that of Bitcoin by +118%. The chart I’ve assembled illustrates the relative price performance during each trading session (these times are referenced from GMT timezone) 🟣 European trading spans from 8 to 15 hours. 🟠 American trading ranges from 14 to 23 hours. 🟢 Asian trading occurs between 0 and 8 hours. While many days register minimal movement, the data highlights
The orange lines in the above graph indicate the percentage change in the token’s price during the US session, showcasing a bullish trend. In contrast, European traders seem to have a bearish outlook, evident from several purple lines representing negative price changes during their trading period. Asian traders demonstrate a more neutral stance as their trading hours start later, as shown in the data.
Traders in the Asian session appear to follow historical price trends, showing both upward and downward movements. For those engaged in active short-term trading, it is advisable to consider long positions during US sessions. On the other hand, for shorting opportunities, entering the market during the EU session may be more favorable.
TON’s Wallets Surge
Apart from this, TON led the altcoin pack with a remarkable surge of 110% growth in non-empty wallets over the past six months. Bitcoin may have the most non-empty wallets, but TON’s growth is the fastest in this category. This surge in wallet activity positions TON as a standout performer in the cryptocurrency market, showcasing increasing interest and engagement from investors and users alike.
With a net change of 16.8K wallets, the token has seen exponential growth in its user base, indicating growing confidence in the project and its underlying technology. This surge comes amidst a broader trend of heightened interest in cryptocurrencies, fueled by increased institutional adoption, growing mainstream acceptance, and evolving regulatory frameworks.
