- TON has experienced a 5.28% spike in the last 24 hours, reaching a monthly high.
- The large transactions of Toncoin are increasing, hitting 9.03 billion, valued at $34.28 billion.
Whale activity in Toncoin [TON] has seen a significant surge over the past week.
According to IntoTheBlock, the volume of large transactions on TON continues to rise, setting new records. These transactions have reached 9.03 billion TON tokens, equivalent to around $34.28 billion.
Source: IntoTheBlock
The increase in large transaction volume indicates that whales are actively involved in the network. Despite facing high volatility, TON continues to attract large entities in the market.
Source: IntoTheBlock
The surge in large transactions indicates that major holders are actively trading the asset.
Netflow data suggests that whales are buying Toncoin, with netflow increasing from -30.52 million to 49.21 million—a 261.24% surge in the past day.
Whale accumulation often leads to price increases driven by rising demand, signaling strong market confidence when whales buy.
Source: Artemis
The rise in whale transactions has pushed Toncoin’s daily transaction count to an 11-day high.
Daily transactions have increased from 316k to 382.9k, showcasing Toncoin’s growing adoption and favorable market conditions.
Impact on TON
The increasing large transaction volume has had a positive impact on Toncoin’s price trends.
TON has experienced sustained growth on its price charts, with the altcoin seeing three consecutive days of gains. During this period, Toncoin has risen from a low of $3.6 to a monthly high of $4.2.
Source: TradingView
Future Outlook for the Altcoin
AMBCrypto’s analysis indicates a strong bullish sentiment for Toncoin as whales re-enter the market.
One indicator of this bullish trend is TON’s aggregated funding rate, which has turned positive after being in negative territory. This shift suggests that Toncoin has more long positions than short ones.
The increased demand for long positions signifies optimism among investors for further price gains in Toncoin.
Source: Coinalyze
With bullish sentiment returning among whales and retail investors, Toncoin is positioned for potential price increases.
If the current trend of the past three days continues, TON could target the $4.6 level. However, profit-taking by sellers could lead to a correction, bringing Toncoin back to $3.8.
sentence:
The cat ran quickly across the yard.
Rewritten sentence:
Across the yard, the cat ran swiftly.