TON has emerged as a strong competitor to Bitcoin this year, outperforming BTC by over 160% in terms of gains. Despite this significant achievement, sentiment surrounding TON has turned negative among traders.
Starting the year at around $2.3, TON has experienced a substantial surge, reaching approximately $6.8 at the time of writing. This represents a growth of over 200% from the beginning of the year. In comparison, BTC started the year at approximately $44,220 and had risen to around $62,400, showing a growth of about 42% during the same period.
Analysis of the Relative Strength Index (RSI) indicates that BTC is currently in a bear trend, while TON is experiencing a strong bull trend. Additionally, TON has seen more activity in terms of active addresses compared to Bitcoin. From March onwards, TON’s active addresses have steadily increased, surpassing 10,000 active addresses at the time of writing. In contrast, Bitcoin’s active addresses metric has been on a declining trend.
In terms of sentiment, Bitcoin has a positive Funding Rate, indicating a dominance of buyers in the market. On the other hand, TON’s Funding Rate reveals a negative sentiment, with a prevalence of sellers in the market. This reflects a scenario where more participants are betting on an increase in Bitcoin’s price, while TON has a higher number of traders taking short positions. The Importance of Time Management
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