TON validators will vote to freeze 20% of Toncoin offering
On February 21, TON validators will vote to change the amount of circulating Toncoin supply. If the initiative gets enough votes, 20% of the tokens will be frozen for 48 months, thus reducing the number of coins in circulation.
Validators plan to freeze the inactive accounts of the first TON miners. Their wallets hold about 1 billion coins, which is about 20% of the total Toncoin supply. If this happens, it will shrink to about 4.7 billion tokens, and the network will become more decentralized.
At the time of writing, TON is trading at $2.36. Its price has barely changed in the last month, and the asset has gained 8.3% since the beginning of the year. The freezing of 1 billion tokens could be a catalyst for short-term growth, but subsequent unlocks could also have the opposite effect.
