As a seasoned researcher with a keen eye for trends and patterns in the crypto market, I find myself intrigued by the recent resurgence of Toncoin (TON) whales. The 90.78% surge in large transaction volume within a single day is a stark contrast to the downtrend observed in its top 10 counterparts.
Toncoin (TON) is experiencing a resurgence among large investors, as indicated by the increase in 24-hour transaction volume. According to IntoTheBlock’s data, the total volume of significant transactions on Toncoin over the past day has risen by approximately 90.78%. This surge in activity occurred even though many of its main competitors in the top 10 most valued coins have seen a decrease in similar trends.
Toncoin whales: True picture
Based on IntoTheBlock’s data analysis, Toncoin whales have accumulated approximately $7.94 billion in the last 24 hours. In contrast, the Ethereum network has experienced a decrease of over 10% in this same metric, with a volume of around $5.7 billion. This suggests that Toncoin is receiving significant support from its community.
A significant deal, valued at least $100,000, arises as Toncoin’s value is experiencing a decline. Currently, the coin is being traded for approximately $4.938, marking a 2.10% increase compared to its earlier growth of over 6%.
The increasing usage of Toncoin can be clearly seen, as evidenced by a significant increase in real transaction volume to $168.95 million, representing a growth of 10.65%. Furthermore, the number of daily active addresses has risen by 3.13% to approximately 1.3 million in total.
Maintaining the current trend could potentially keep the value of the coin above the $5 resistance, aiming towards fresh record prices.
Ecosystem influence
For the blockchain protocol supporting Toncoin, known as TON, significant innovation is crucial. Initially, it’s important that the behavior of TON’s large investors (the so-called “whales”) remains stable and predictable moving forward.
This decrease in hype can be attributed to the fact that the dApps it supports, such as Notcoin and DOGS, aren’t generating the same level of excitement as they were a few weeks ago.
To move forward, we should focus on initiating projects that showcase fresh, groundbreaking applications, as these could boost TON’s long-term acceptance. At present, however, TON is attempting another climb towards its previous record price of $8.24.
Read More
- EUR CAD PREDICTION
- XRP PREDICTION. XRP cryptocurrency
- EUR ARS PREDICTION
- EUR MYR PREDICTION
- LUNC PREDICTION. LUNC cryptocurrency
- USD RUB PREDICTION
- CHR PREDICTION. CHR cryptocurrency
- POL PREDICTION. POL cryptocurrency
- SAFE PREDICTION. SAFE cryptocurrency
- OKB PREDICTION. OKB cryptocurrency
2024-11-01 18:41