🚨 Whale Alert 🐳
Rising with Extraordinary Whale Transactions! This Altcoin Entered the Radar!
Toncoin (TON) has stood out as a major player in the cryptocurrency market, especially whale transactions, continuing the momentum it has gained since the beginning of the year. The market is currently trying to balance between bearish altcoins and those that maintain bullish momentum, and Toncoin is in the second category.
Toncoin reached a significant increase in whale transactions with an increase of more than 237 percent in just one day. Whale trades, which were identified by IntoTheBlock as those worth $100,000 or more, jumped from a five-trade low in the previous week to 27 as of June 3. This increase in high-value transactions indicates the intense interest of large investors, which may have a significant impact on the price dynamics of altcoin.
Currently, Toncoin's mainnet asset, TON, is trading at $6.79, up 2.76 percent in the past 24 hours.
Despite the price rise, Toncoin's daily trading volume fell by more than 58 percent to $208.46 million. This decrease in trading volume, which is side by side with the increase in whale trades, does not change the fact that large investors accumulate TON. If this trend among the whales continues, the price can be expected to rise further.
Notcoin Factor
A key catalyst for increased whale activity at Toncoin has been the market excitement surrounding Notcoin (NOT), a token launched at The Open Network in May. Notcoin quickly gained popularity as both a memecoin and a play-as-yon (P2E) type gaming token, reaching an all-time high of $0.02896, corresponding to a growth of 201 percent over the past seven days.
Toncoin continues to be on its list of the top 10 cryptocurrencies with the largest capital, a position it has, along with other leading altcoins. Even the Shiba Inu (SHIB) in the top 10 is pushing out of this elite group, revealing Toncoin's growing influence and market cap size.
