12/14/2024
BTC101,172.0
ETH3,911.51
USDT0.9999
XRP2.43
SOL225.51
BNB726.62
DOGE0.407596
USDC1.001
BUSD0.986287
Last news
Whales Are Heavily Buying Toncoin, And the Coin Outperformed Dogecoin
07/02/2024

Whales Are Heavily Buying Toncoin, And the Coin Outperformed Dogecoin

07/02/2024
4,4

The TON ecosystem continues to attract an increasing number of users. On-chain data showed that large investors are actively buying Toncoin.

Whales have been actively accumulating their holdings in Toncoin over the past week, as evidenced by on-chain data. This could indicate bullish momentum for the native blockchain token TON. Large investors who hold between 10,000 and 100,000 TONs have participated in the net accumulation. This was pointed out by analyst Ali Martinez. 

In the past seven days, these whales have bought more than 45 million TONs worth $342 million. This buying on the part of the whales came amidst the consolidation of the cryptocurrency after setting a new all-time high last month. That indicates that these large investors expect the coin to grow further in the near term. 

While the whale accumulation may seem like a bullish indicator, it's worth keeping an eye on further token distribution. A significant drawdown could indicate bearish momentum. 

At the time of writing, TON is trading at $8, approaching an all-time high. The coin has gained 25% in the last month, and the coin has grown 472% in a year. 

TON's recent gains have caused the coin to overtake Dogecoin in terms of market capitalization. 

One of the factors behind TON's growth was the recent updates in the Telegram ecosystem, as well as the popularity of mini-apps. 


Subscribe to Cryptonica.News
on social networks

The materials found on the Cryptonica website shall not be taken as individual investment recommendations. The financial instruments or operations mentioned therein may not align with your investment profile or objectives. We assume no responsibility for any missing facts or inaccurate information in the texts. Cryptocurrencies are financial assets with high risk and volatility. Therefore, it is crucial that you conduct your own research on financial instruments and make independent decisions. Before engaging in any actions related to cryptocurrency, you shall study, understand, and comply with the laws applicable in your region and country.


How useful is this article for you?
Thank you for your review!

Last news