- TON has priced a new ATH.
- Social dominance was over 1%.
Tonmint [TON] has caused quite a stir in recent days due to significant price increases. It experienced a notable spike in social dominance, and its Open Interest also showed a positive trend.
Toncoin sets new ATH record
AMBCrypto’s daily analysis of Toncoin revealed the first significant peak on June 2. The chart showed an increase of 8.60%, taking the price from about $6.3 to about $6.8.
On June 4, Toncoin experienced another significant spike of 7.48%, pushing its price to over $7.3.
This new price range became an all-time high, surpassing the previous ATH of approximately $7.2, which was reached in April.
Toncoin briefly deviated from this new price range with a drop of more than 1.6% on June 5. However, it has since regained its position.
At the time of writing, Toncoin is trading around $7.3, up over 1.7%. This recent increase means that the price has been able to maintain the new all-time high (ATH). Any further increase would create a new ATH.
Source: TradingView
Furthermore, an analysis of Toncoin’s Relative Strength Index (RSI) indicates that it is currently in a strong bull trend. At the time of writing, the RSI is above 67, indicating it is close to the overbought zone.
Toncoin sees second highest increase in seven days
Analysis of data about CoinMarketCap showed that Toncoin has risen by more than 12% in the past seven days. Of the top 20 assets, only Binance (BNB) saw a higher increase, with more than 19%.
At the time of writing, Toncoin’s market cap is approximately $17.6 billion, making it the ninth largest asset by market cap.
Furthermore, data from Santiment showed that Toncoin (TON) is experiencing a significant level of social dominance. At the time of writing, its social dominance is over 1.3%, indicating that it is part of approximately 1% of discussions in the cryptocurrency space.
Source: Santiment
At the beginning of the month, social dominance was over 2%, but has decreased in recent days.
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More money flows to TON
Analysis of Toncoin’s open interest Mint glass showed a significant flow of money in recent days. The chart indicated that Open Interest rose to nearly $227 million on June 5 before falling.
At the time of writing, Open Interest is approximately $220 million.
