Bitrabo Editorial
Data from on-chain activities indicates that Toncoin whales have engaged in significant accumulation over the past week, a positive signal for TON’s future.
Acquisitions by Toncoin Whales Surge in the Last 7 Days
Analysis by Ali Martinez on X reveals recent substantial buying activity by Toncoin whales. The key metric to highlight here is the “Supply Distribution” data from Santiment, offering insights into the holdings across various investor groups.
Investors are categorized into groups based on their coin balances. For instance, the whale category encompasses addresses holding between 10,000 and 100,000 TON, valued at $76,000 to $760,000 at the current exchange rate.
These large holders wield influence in the market and their movements can impact price trends. Notably, a recent chart depicts a surge in Toncoin Supply Distribution among whales, with a net purchase of over 45 million TON in the past week, amounting to $342 million.
As Toncoin stabilizes following a recent all-time high, these whale acquisitions indicate a bullish sentiment, suggesting a potential rally ahead as these influential investors expand their holdings.
TON’s Price Performance
Over 2024, Toncoin has demonstrated significant growth, soaring by over 220% to reach a price of $7.6. The accompanying chart illustrates the trajectory of Toncoin’s price movements throughout the year.
This surge has propelled Toncoin to become the eighth-largest cryptocurrency globally, surpassing Dogecoin in market cap.