As an experienced analyst, I’ve closely monitored the TON network and its associated tokens, including Notcoin (NOT), over the past few months. The recent surge in high-value transactions on the network, with those exceeding $1 million dominating the on-chain volume, is a notable development that has piqued my interest.
In recent times, there has been a significant uptick in expensive dealings on the TON network. Transactions worth over $1 million have come to account for a substantial proportion of its total transaction value. The heightened activity of large investors, or “whales,” is evident in the network’s increasing number of dollar transactions since its price rally in 2024.
The presence of Notcoin (NOT), a token linked to Toncoin, sparked increased activity and influenced market perceptions. This development occurs concurrently with large investor groups hoarding between 100,000 and one million NOT tokens, indicating long-term commitment and potential for price rebound in the future.
Transaction Catalysts and Market Sentiment
Significantly, the Notcoin network encouraged participation by distributing airdrops across various platforms, thereby boosting user engagement and increasing the circulating supply of the token. This strategy played a crucial role in expanding the network’s active user base within the community.
Additionally, the connection between the token and Telegram, a popular social media channel, has significantly fueled its price increase. Consequently, large investors, or “whales,” have been drawn in by this trend, aiming to capitalize on the rising cryptocurrency.
Analysts identify three key factors behind NOT‘s surge in value towards the dollar: an engaged community, ongoing protocol advancements, and exchange listings. Several prominent cryptocurrency exchanges, including Binance, OKX, Bybit, and KuCoin, have recently included NOT in their trading offerings.
Simultaneously, the Notcoin price surged, reaching a new peak of $0.012 and a market capitalization of $1.218 billion. Concurrently, Notcoin’s daily trading volume increased by 18% to exceed $1.2 billion. The cryptocurrency experienced a significant weekly growth of approximately 150%, resulting in an additional $640 million in market value.
TON Price Rally and Market Impact
It’s intriguing to note that both the growth of the community and the surge in high-value transactions have experienced notable increases, leading to Toncoin’s price uptick. As per CoinMarketCap’s latest report, Toncoin is currently priced at $6.51, marking a 1.30% increase over the previous 24 hours.
As a crypto investor, I’ve witnessed TON‘s transformation into a sturdy blockchain, capable of managing sizeable value transfers. This has drawn in an increasing number of large investors. Analysts believe these “whales” are strategically positioning themselves, preparing for massive returns when the coin experiences a significant price increase.
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2024-05-30 20:24