⭐️ What Crypto Whales Are Buying for Potential Gains in August 2024

The past week has been marked by a decline in cryptocurrency market activity, highlighted by a 4% drop in global market capitalization recorded in just the past 24 hours.

However, some assets have witnessed a surge in crypto whales attention as these large investors attempt to trade against the general market trend in anticipation of a rally in the coming weeks

🔸 Toncoin (#TON ) Sees Uptick in Crypto Whales Count

The price of Toncoin (TON), the cryptocurrency linked to the popular messaging app Telegram, has suffered a 17% price decline in the last month. However, on-chain data suggests that this has presented a buying opportunity, which the whales have noted

Readings from TON’s Market Value to Realised Value (MVRV) ratio show that the altcoin is currently undervalued, flashing a buy signal.

At press time, the token’s MVRV ratios assessed over different moving averages are negative. Its MVRV ratios for the 30-day and 90-day moving averages are -6.39% and -6.87%, respectively.

This metric measures the ratio between an asset’s current price and the average price at which all its coins or tokens were acquired. When it is below zero, the asset’s current market value is less than the price at which most investors acquire their holdings.

🔸 Binance Coin (#BNB ) and Its Emerging Bullish Divergence

The relative balance between BNB’s buying and selling pressures has prevented its price from trending strongly in either direction over the past few weeks.

However, the coin’s Chaikin Money Flow (CMF) has maintained an uptrend during that period. This indicator measures money flow into and out of an asset’s market. As of this writing, BNB’s CMF is 0.24.

A sideways price movement while CMF is rising suggests a potential bullish divergence. It indicates a growing influx of money into the asset, often a sign of accumulation by larger investors.

Even though BNB’s price is consolidating sideways, its rising CMF suggests that the coin’s underlying strength might be increasing.