As Ether (ETH) prices rose and Bitcoin (BTC) fell in the early hours of the East Asian trading day, Toncoin (TON) outperformed the market, rising nearly 17% and displacing Cardano as the 10th largest token by market cap. A trader on X said that the token could rise due to positive news from the ecosystem. He said USDT on TON is expected to be announced at the Token 2049 conference in Dubai next week. The Ton Network was originally a spin-off from Telegram, the development of which began in 2018. Telegram stopped work on the network in 2020 following legal action from the SEC, and a year later several community members banded together to lead the project. Bitcoin fell to $70,800, with traders expecting a price between $69,000 and $73,000. “There will be some liquidations this week that will test both resistance and support levels in the short term, as we saw this morning,” said Laurent Kssis, crypto ETP specialist at CEC Capital. Kssis warned that the market could face further downward pressure in the week following Bitcoin's halving later this month.
The percentage of circulating Bitcoin supply that last moved on-chain at least a year ago has fallen to its lowest level since October 2022, according to data from blockchain analytics firm Glassnode. As of Monday, 12.95 million BTC, representing 65.84% of the circulating supply of 19.67 million BTC, remained unchanged for over a year, the lowest percentage since October 2022. The indicator reached one with the debut of nearly a dozen spot exchanges High of over 70%. The number of traded funds (ETFs) in the US rose in mid-January and has been declining since then. Since the end of December, the share of circulating supply that has not moved in at least two years has fallen from 57.4% to 54%. The decline likely represents profit-taking by investors who have held coins for a year or more and marks a shift away from the holding strategy until 2023.
Filecoin liquid stake platform STFIL said some of its team members were under investigation by Chinese police. According to a post on Additionally, last week tokens on the platform were moved to an “unknown, external address” while team members were incarcerated. The address in question contains over 2.5 million FIL tokens, worth around $23 million.
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