Logo
Cardano Ecosystem

CryptosHeadlines

07/02/2024

·

84 views


TON Whales Buy $342 Million in New Spree

On-chain data shows that Toncoin whales have been heavily buying up the coin over the past week. This increased accumulation could be a positive sign for TON.Get Instant 100,000 CHIKA Tokens Airdrop Worth Of...

TON Whales Buy $342 Million in New Spree

On-chain data shows that Toncoin whales have been heavily buying up the coin over the past week. This increased accumulation could be a positive sign for TON.

Get Instant 100,000 CHIKA Tokens Airdrop Worth Of $100 USD Free On www.ChikaMoji.lol

Analyst Ali Martinez recently shared on X that Toncoin whales have been actively buying the coin. The key indicator here is Santiment’s “Supply Distribution,” which tracks how much TON is held by different groups of investors.

Toncoin Whales Surge in Net Buying, Indicating Potential Bullish Trend

Toncoin investors are categorized into groups based on the amount of TON they hold. For instance, the 1 to 10 coins group consists of addresses with at least 1 but no more than 10 tokens. In the current discussion, we focus on the whale cohort, which includes addresses holding between 10,000 and 100,000 TON. At today’s exchange rate, this range represents values from $76,000 to $760,000.

The value of the metric appears to have been climbing in recent days | Source: @ali_charts on

These whale addresses carry substantial amounts of TON, giving them significant market influence. Recent data shows that this group has been actively accumulating Toncoin. Specifically, they have purchased over 45 million TON in the past week, amounting to $342 million.

Get Instant 100,000 CHIKA Tokens Airdrop Worth Of $100 USD Free On www.ChikaMoji.lol

This notable buying spree comes after Toncoin consolidated following a new all-time high (ATH) set last month. The increased activity from these large holders suggests they expect further gains, indicating a potentially bullish trend for Toncoin.

However, this optimistic outlook could change quickly. It’s important to monitor the Supply Distribution of this whale cohort closely. A significant decrease in their holdings might signal a bearish turn if these investors start selling.

Toncoin (TON) Soars 220% in 2024, Becomes 8th Largest Cryptocurrency

The year 2024 has been highly favorable for Toncoin investors, with the asset experiencing a remarkable climb of over 220%. As of now, Toncoin is trading around $7.60. The chart below illustrates the asset’s impressive trajectory throughout the year.

TONUSD on TradingView

In terms of market capitalization, Toncoin has risen to become the eighth-largest cryptocurrency globally, surpassing Dogecoin (DOGE). This significant growth highlights Toncoin’s expanding influence and prominence in the crypto market.

TON seems to be $18.7 billion at the moment | Source: CoinMarketCap

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

Join Cryptos Headlines Community

Follow Cryptos Headlines on Google News

  • SHBAZ

    A crypto enthusiast, Loves to write, Loves to explore and stay up-to-date about the latest developments in the crypto world. #Btc #Crypto #NFT

    View all posts

AD

SNEKbot by DexHunter on CARDANO

Cardano's Telegram Trading Bot live on Cardano mainnet!TRADE NOW!


Read Original Article on CryptosHeadlines

ORIGINAL SOURCE

https://cryptosheadlines.com/ton-whales-...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


Rare Evo: A Blockchain Event

More from CryptosHeadlines

See more
Solana (SOL) Could Surge 300% If This Pattern Continues
CryptosHeadlines
Solana (SOL) Could Surge 300% If This Pattern Continues

yesterday at 12:20 PM

·

15 views

Related News

See more

Argentina Digital Nation 2024
Rare Evo: A Blockchain Event
Argentina Digital Nation 2024

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)