Toncoin’s whale transactions surged by 80%, reaching $8.75 billion in a single day.
Large holder netflows for Toncoin increased by 300% in the past seven days.
Toncoin wallets grew to 111 million, marking a significant expansion in 2024.
TON has recently registered high whale movement. In this case, data from IntoTheBlock indicated 80.63% growth of the large transactions, and the general volume of large transactions exceeded during the last 24 hours by $8.75 billion. This significant uptick in activity comes despite a subdued broader crypto market performance, reflecting Toncoin's growing prominence.
Large Holder Netflows Spike by 300%
This surge in whale transactions signals that major holders are either accumulating Toncoin or transferring substantial amounts. Supporting this trend, large holder netflows have recorded a staggering 300% growth over the past seven days. Such heightened activity often suggests increased confidence among institutional and high-value investors, even as the broader market remains cautious.
https://twitter.com/ton_blockchain/status/1873654921570242794
Toncoin’s ecosystem expansion in 2024 has been equally impressive. According to Dune Analytics, the blockchain now boasts 111 million wallets, a dramatic increase from 38.7 million in August. The most significant spike occurred between August and September, when wallets surged to 84 million, with 2.5 million new wallets created in a single day on September 27.
Layer-1 Network Milestones and Market Standing
Toncoin is now recognized as one of the fast-growing Layer-1 (L1) blockchains. By 2024, TON had more token holders than Polygon and is catching up with TRON and BNB at a very fast rate. The Total Value Locked (TVL) in the network has similarly surged, having increased 2182% to $267 million by year-end.
The economy that businesspeople foresee is an unpredictable one, and the next year’s Monetary policy to be implemented by the Fed is in 2025. Similarly, at the time of writing this report, Toncoin has also retraced by 2.08% in the last 24 hours and is currently at $5.71, which could be a result of bearish conditions that are currently rife in the market.
