Toncoin (TON) has recently seen its Open Interest (OI) in the futures market plummet to $141 million, marking its lowest point in the past nine months. Open Interest, which reflects the total value of outstanding futures contracts, is a vital indicator of market sentiment and liquidity.
As per Cryptoquant data, a drop in OI generally suggests reduced market activity and diminished volatility. This decline in OI mirrors broader trends in the cryptocurrency market, signaling a period of low volatility as the year concludes.
The drop in TON’s Open Interest coincides with a noticeable decline in its price and user activity. According to Artemis data over the last three months, the price of Toncoin experienced significant fluctuations.
It initially saw a decline, dropping from highs around $7.2 to near $5.6 towards the end of the observed period. This drop was accompanied by a sharp decr…
The post Toncoin Market Performance Slips with Open Interest Falling to $141M appeared first on Coin Edition.
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