TON Open Interest Turns Positive, Signaling Potential Reversal
Share:
Predictions Markets
See what traders are focused on
- TON’s price surged from $2.5 to $7.5 in early 2024, driven by bullish sentiment and rising open interest delta.
- A mid-year correction led to capital outflow and a price drop to $4, reflected in negative open interest.
- By September 2024, both price and open interest delta showed signs of recovery.
The latest TON market trend shows a shift in investor behavior and a possible influence on the asset’s value. According to Cryptoquant, TON’s 30-day open interest delta is now positive while the funding rate remains negative.
This shift points to important dynamics that could influence TON’s price in the coming weeks. The Ton Open Interest Delta chart from December 2023 to September 2024 shows notable patterns in market activity.
From December 2023 to March 2024, TON’s price saw a gradual decline, remaining below $2.5. During this time, open interest remained relatively low, with only minimal fluctuations, signaling limited futures activity.
Price Surge and Increased Open Interest
In late March 2024, TON experienced a rapid price surge, rising from below $2.5 to nearly $6.5 by April. This period featured a strong increase in the open interest delta, su…
The post TON Open Interest Turns Positive, Signaling Potential Reversal appeared first on Coin Edition.
Read More
XRP Faces Funding Rate Reset Risk as Derivatives Data Flashes Warning
