Toncoin has recently experienced a significant increase in the major trading volume. This situation was reflected in Altcoin prices. Here are the details…
TONCoin’s whale volume broke record: Why do Altcoin investors show interest
The large trading volume in the Toncoin network reached 9.03 billion token and corresponded to a value of approximately 34.28 billion dollars. According to Intotheblock data, this rise gained a remarkable momentum and recorded as a new record. This shows that large investors, called whales, are very active in the network.
Whale mobility in Toncoin in the last week has gained serious speed. The increase in the large transaction volume reveals that important market players’ interest in Toncoin continues. Even in periods of high volatility, the presence of these large players in the market can be considered as a sign of confidence in the network. Artemis data also confirms that the number of daily transactions increased to the top of 11 days: the number of transactions rose from 316 thousand to 382.9 thousand. This increase proves that the use of Toncoin has become widespread and that a positive atmosphere has occurred in the market.
This leap in the large trading volume has also activated Toncoin’s price graphics. The ton, which reached its highest monthly level with a 5.28 %rise in the last 24 hours, has earned for three consecutive days. The price climbed to a $ 4.2 summit from the $ 3.6 bottom level. TradingView clearly reveals that this rise trend continues.
Why do whales buy?
Looking at the net flow data, whales are actively collected Toncoin. The net flow increased from -30.52 million to 49.21 million in a day and exhibited a striking increase of 261.24 %. The purchase of whales is often an indication of a strong confidence in the market and the expectation that prices will increase further. Historical data confirms that the periods in which whale accumulation is intensified trigger price increases with the increase in demand.
According to analyzes, the market feeling for Toncoin is quite positive. With the return of whales to the market, optimism increases. According to Coinalyze data, the total funding rate of ton has returned from the negative region to a positive. This shows that long positions dominate short positions and play the price increase of investors. Long position holders continue to pay for short position holders to protect their positions even in market drops. This proves that the demand for Toncoin and the expectation of ascension is strong.
This positive atmosphere, which revives between whale and individual investors, can bring new rise in Toncoin’s price. If the trend in the last three days continues, it seems possible that ton can test the $ 4.6 level. However, if some sellers see the final rise as an opportunity for profit realization, the price may experience a correction and may be withdrawn from $ 4.2 to $ 3.8.
Toncoin attracts attention with its whale mobility and increasing daily trading volume. These dynamics on the market seem to determine what way to follow the Altcoin in the coming days.
