TON Token Surges 110% in Non-Empty Wallets, Outpacing Bitcoin's Growth

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

Open Network’s (TON) native cryptocurrency had a blistering rally this year, outpacing Bitcoin’s price by roughly 120%. As CryptoQuant’s latest analysis sheds light on which investor groups are optimistic about TON and which are more pessimistic, it could help traders gauge the relative price performance across multiple trading sessions and make informed decisions.

According to the data platform, American investors are the most bullish on TON. The Open Network (TON) Token is currently one of the most popular layer-1 cryptocurrencies. Its price has outperformed Bitcoin by +118% since the start of the year. The chart I've assembled showcases the relative price performance during each trading session (these times are referenced from the 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 following trends:

The orange lines in the above graph denote the percentage change in the token’s price during the US session, which predominantly shows a bullish trend. In contrast, European traders appear to have a bearish outlook, as evident from several purple lines representing negative price changes during their trading period. Finally, Asian traders maintain a more neutral stance as their trading hours start later, as shown in the data.

Traders in the Asian session largely follow historical price trends, exhibiting both upward and downward movements. For those engaging 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

In other news, TON led the altcoin pack with a remarkable surge of 110% growth in non-empty wallets over the past six months. While Bitcoin may have the most non-empty wallets, 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.