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Toncoin loses investor interest due to a negative funding rate, while TRON gains momentum, surpassing Bitcoin and Ethereum.
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Toncoin (TON) is quickly losing investor interest due to its negative funding rate, but TRON is picking up bullish momentum after surpassing Bitcoin and Ethereum in terms of Q3 revenue. Meanwhile, savvy investors are more interested in Lunex Network’s viral DeFi exchange with its unique cross-chain interoperability.
Toncoin’s negative funding rate discourages investors
Toncoin has been showing signs of market weakness over the past seven days with its negative funding rate expected to drive the price even lower. TON has already suffered a steep 11.04% decline, and analysts suggest that a short-term rebound is unlikely to happen. This downward trend has pushed Toncoin’s price towards the lower line of its horizontal channel, hinting at the possibility of another double-digit decline soon.
Toncoin price is currently trading for $5.39 after a 2.74% intra-day increase. Despite this minor uptick, Toncoin’s volume has decreased by 45.19% over the last 24 hours which suggests a loss in investor interest. Since Toncoin’s price is also trading below all of its Simple Moving Averages on the TON/USDT daily chart, Toncoin’s price is expected to plunge to the $4.74 support soon.
TRON network outshines BTC and ETH in Q3 revenue
TRON’s network generated record revenues of $577.25 million in Q3, outshining industry leaders like Bitcoin, Ethereum, and Solana. This massive 43% increase in revenue from Q2 is all thanks to the rising DeFi activity on the TRON network. Since TRON’s price also controls more than 35% of the stablecoin market, TRON’s ecosystem continues to attract a huge influx of users and DeFi developers.
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