Recently, long-term holders have started moving their TONs again. The Coin Days Destroyed (CDD) indicator has been showing this trend over the past few days. On June 12th, 633 million TON were moved, signaling a possible distribution phase in the market. This behavior could indicate that the price of $8 USD is approaching a top for TONCOIN.
The Coin Days Destroyed (CDD) indicator takes the number of coins that have moved on-chain at a particular time and multiplies that value by the number of days since those coins were last moved. When large amounts of older coins start moving, it can be a sign that long-term holders are beginning to take profits, preparing the market for a potential price correction.
Stay alert to upcoming movements and use the CDD as part of your analysis to make informed decisions in the TONCOIN market.
Written by joaowedson