According to U.Today, Toncoin (TON) has experienced a significant 306% increase in large holder transaction volume, indicating a surge in whale activity. In the past 24 hours, TON's large transaction volume has risen to $9.7 million, equivalent to 1.3 million TON. This recent surge in large-scale transactions, with individual trades exceeding $100,000, suggests that large holders may be adjusting their positions. Large transaction volumes often give an indication of the total amount transacted by whales and institutional players on a given day. An increase in this volume could indicate high activity among institutional players, either buying or selling.
In related news, OKcoinJapan, a major Japanese crypto exchange, recently listed TON, thereby increasing its exposure in Asia. Over the past few months, TON's market cap has surpassed other cryptocurrencies, placing it among the top 10 cryptocurrencies by market value. Currently, Toncoin is just behind XRP in terms of market capitalization, suggesting a possible reshuffling of the top digital currencies. Data from CoinMarketCap shows that while XRP maintains a lead, Toncoin's current growth trend could soon challenge XRP's position. As per the latest figures, Toncoin's market cap remains below that of XRP, which is robust.
At the time of writing, Toncoin's market capitalization was $18.43 billion, making it the eighth largest cryptocurrency by market ranking. XRP is the seventh largest cryptocurrency by market cap, with a market capitalization of $26.02 billion. Toncoin was down 2.10% in the last 24 hours to $7.48, although it was higher by 9% weekly.