While the overall cryptocurrency market experiences a slump, Toncoin (TON), the digital currency linked to the messaging app Telegram, defies the trend. TON has seen a 20% price increase in the past month, even as the global market capitalization dips 15%.
This bullishness is accompanied by a surprising development: a surge in whale activity. An analysis of on-chain data reveals that the number of Toncoin whales, those holding between 1,000 and 1,000,000 TON, has grown by 15% over the last 30 days.
This signifies that major investors are accumulating TON at an unprecedented rate, expressing confidence in its future potential. Experts believe this whale activity could push TON prices even higher, with some predicting a rise to $7.70 unless a wave of profit-taking disrupts the current trend.
June 2024, Cryptoniteuae
