TON futures OI surge signals growing trader interest and potential volatility.
A strong $3.24 demand zone underpins TON’s price stability amid fluctuations.
Toncoin ($TON) perpetual futures open interest jumped 33%, climbing from $143 million to $190 million within a day. Glassnode’s historical analysis shows that such OI spikes often come before price corrections.
Over the past 24h, $TON perpetual futures OI surged +33% from $143M to $190M – its highest level since Feb 18. Interestingly, OI stayed elevated even after the price pullback. Past spikes like this have often preceded corrections – worth watching closely: https://t.co/wXpcaQoKul pic.twitter.com/IwbflHdkwZ
— glassnode (@glassnode) May 29, 2025
The persistent elevation in OI despite a recent price dip indicates ongoing engagement from traders in the futures market. This trend signals potential market volatility as futures contracts draw increased attention.
The correlation between TON’s price movement and open interest has been evident in past cycles. Elevated OI phases typically precede short-term market adjustments. Analysts observing the current chart highlight this pattern as a key factor to watch in the near term.
On-Chain Data Highlights Strong Demand Zone
On-chain metrics from Sentora reveal that Toncoin remains above a critical demand zone at $3.24. At this price level, roughly 1.21 million wallets acquired nearly 740 million TON tokens, suggesting robust accumulation.
This concentration of buy orders may act as a strong support level for TON, helping to cushion against further price declines.
#Toncoin is holding above a major demand zone at $3.24, where 1.21 million wallets scooped up nearly 740 million $TON, shows on-chain data from @SentoraHQ. This level could act as strong support! pic.twitter.com/2wkq8m4CnD
— Ali (@ali_charts) May 29, 2025
Presently, TON trades near $3.29, close to this demand zone, indicating that the market respects this floor.
Additionally, over 90% of TON supply is in profit, while nearly 10% of tokens are valued near the current price. This distribution highlights solid market positioning and potential stability amid volatility.
Technical Analysis and Strategic Leadership Update
The TON/USDT trading pair showed a sharp reversal after testing the $3.00 support level. The price broke out of a descending wedge pattern and reclaimed an internal upward trendline.
This breakout points to a possible move toward the upper channel resistance between $3.70 and $3.75, suggesting an 11% potential gain from current prices.
Daily closes above $3.10 are necessary for this bullish outlook to hold. Falling below this threshold could weaken the upward momentum and negate the immediate upside scenario. The $3.00 support remains a key pivot, while the $3.70 resistance marks the next major price target.
On the strategic front, the TON Foundation announced on May 28 that Nikola Plecas, formerly a senior executive at Visa, would be appointed as vice president of payments. Plecas was instrumental in shaping Visa’s global crypto strategy.
Big move in Web3 payments: TON Blockchain just named @nikola_plecas as VP of Payments!
He’s not just any hire. Nikola helped shape Visa’s global crypto strategy. Now he’s bringing that expertise to TON to scale payments for Telegram’s 1B+ users.
He’ll focus on:
… pic.twitter.com/Wsgknwmt9U
— TON (@ton_blockchain) May 28, 2025
At TON, he will lead efforts to scale payment infrastructure for over 1 billion Telegram users. His role includes managing cross-border partnerships, regulatory compliance, and enhancing network security and scalability.
This leadership addition aims to strengthen TON’s payment capabilities and position the blockchain for growth in the Web3 payment space.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
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