Crypto Whales Just Started Buying This Coin; Is $10 Next?

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As a seasoned crypto investor with a keen eye for market trends and on-chain metrics, I can’t help but feel excited about the recent developments surrounding Toncoin (TON). The massive buy-in from whales, as indicated by Santiment’s data, is a clear sign of growing confidence in this altcoin. With over $346.5 million worth of TON purchased within a week, it’s safe to say that some big players are placing their bets on this coin.

Toncoin (TON) has gained significant attention recently as large investors, or “whales,” have shown a strong interest in the coin. According to data from crypto analytics platform Santiment, whales have purchased approximately 45 million Toncoins over the past week. This equates to a total value of around $346.5 million at the current market price.

As an analyst, I’ve noticed that whale investors have purchased over 45 million tons of Toncoin (symbol: $TON) in the last week, amounting to approximately $346.5 million in value.
— Ali (@ali_charts) June 30, 2024

The Toncoin Metrics and Attractiveness

As an analyst, I’ve observed a positive trend in Toncoin’s market performance lately. The protocol has achieved an impressive milestone by surpassing $700 million in Total Value Locked (TVL), which is often seen as a significant indicator of potential price growth. This development could potentially pave the way for Toncoin to reclaim its All-Time High (ATH) of $8.24.

In the last month, Toncoin has stood out among Bitcoin (BTC) and Ethereum (ETH), delivering superior results. Contrasting with Bitcoin’s 9% decline, Toncoin has surged by over $16.46. As a top-tier altcoin, TON has earned its place as the eighth largest coin in the market.

As a crypto investor, I’m excited to share that Toncoin has recently gained the favor of the Astana Financial Services Authority (AFSA), allowing it to be traded legally in Kazakhstan. Although Kazakhstan may not be as significant a player in the global crypto market as countries like the United States, this approval is a clear indication of Toncoin’s widespread appeal.

Toncoin is experiencing significant growth in terms of projects being launched on its mainnet. With its connection to the Telegram social messaging platform, this digital currency ecosystem stands out. In recent months, Toncoin has given birth to new projects such as Notcoin (NOT) and Hamster Kombat.

In simple terms, these projects gained significant popularity among Telegram’s community and were labeled as “Play-to-Earn” games. Among them, Toncoin stood out with an impressive following of over 200 million users.

Is $10 TON Price Target Ahead?

Although the altcoin has experienced significant growth in recent months, analysts remain hopeful for even greater gains. Following comparable patterns in Ethereum, Binance Smart Chain, and Solana, the Toncoin platform is expanding rapidly.

As an analyst, I’ve observed an increasing number of groundbreaking projects being launched on TON, leading to heightened demand for Toncoin. Given this trend, it’s plausible that Toncoin will continue experiencing growth and potentially surpassing its all-time high (ATH) in the future. If Toncoin manages to achieve this milestone, we could witness a swift advancement toward the $10 price level over the long term.

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2024-06-30 21:39