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"TON Surges 357% in Netflows Amid Price Drop and Inflation Spike"

Coin WorldWednesday, Jan 29, 2025 1:52 pm ET

1min read

Toncoin (TON) has experienced a significant surge in exchange netflows, with a 357% increase, raising questions about the cryptocurrency's recent performance and future prospects. This article aims to provide a comprehensive overview of the situation, drawing from relevant news and data.

Toncoin's price has been volatile in recent months, with a notable decline to a key support level. The cryptocurrency fell to $4.80, its lowest level since November 6, 2021, and is now 33% below its highest level in November. This price drop coincided with increased exchange inflows, indicating that investors are continuing to sell. Over the past seven days, more than 240,000 TON coins were moved to exchanges.

The decline in Toncoin's price can also be attributed to a decrease in its burn rate. Data from Ton Stats shows that the number of TON coins burned daily is decreasing. On January 28, only 5,805 coins, currently valued at $27,000, were burned, down from this month's high of 15,000. A declining burn rate is typically a bearish signal, as it suggests fewer coins are being removed from circulation each day.

At the same time, the number of newly minted TON coins is increasing, pushing annual inflation to its highest level in almost six months. TON's inflation rate rose to 0.37%, up from last year's low of 0.337%. The TON blockchain ecosystem is also under pressure, with many popular tokens, including Notcoin (NOT) and Hamster Kombat (HMSTR), hovering near their all-time lows.

The daily chart of Toncoin's price shows a significant decline that began after reaching a high of $8.30 in June 2021. This decline aligns with the lower boundary of a symmetrical triangle pattern. Additionally, Toncoin has formed a death cross pattern, where the 50-day and 200-day Exponential Moving Averages have crossed. Historically, this is considered one of the most bearish patterns in the market. Oscillators like the Relative Strength Index and the Money Flow Index are also trending downward, indicating a potential further decline in Toncoin's price.

In conclusion, Toncoin's recent performance has been

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