Toncoin (TON) is setting the standard for whale volume as the market seeks to maintain a balance between currencies in a bearish trend and those maintaining bullish momentum. Toncoin is in the latter position, continuing the momentum it has had since the beginning of the year.#NOT涨势分析 #Toncoin
According to the latest news from top market analyst Ali Martinez, Toncoin whale transactions have surged by more than 237% in one day. By definition, IntoTheBlock points out that whale transactions are transactions worth $100,000 or more. From the chart shared by Martinez, it can be seen that as of June 3, Toncoin whale transactions have surged from 5 transactions in the past week to 27.
Whale transactions can change the price of a particular digital currency. As they accumulate, the supply of cryptocurrencies in circulation decreases, leading to a massive supply shortage, and when demand continues to grow, the price of cryptocurrencies rises. As of this writing, Toncoin’s native token, TON, has risen 2.76% in the past 24 hours to $6.79. An interesting trend has been observed in the Toncoin ecosystem, further highlighting the role of TON whales in driving the price surge. Daily trading volume fell by more than 58% to $208,461,709.
A major factor driving TON whale transactions is market action around Notcoin (NOT), the blockbuster token launched on the open network in May. Notcoin is trying to carve out a niche for itself as both a meme coin and a play-to-earn (P2E) game, which has seen it surge to a new all-time high (ATH) of $0.02896 in the past seven days, a growth rate of 201%. Toncoin remains among the top 10 altcoins by market cap, while Shiba Inu (SHIB) has failed to make the top 10.