Those Who Follow the Trail of Whales in the Popular Altcoin Predict the Rise!
The movements of Telegram-connected Toncoin (TON) whales can be monitored to predict the price.
Analysts of on-chain analysis platform CryptoQuant focused on the impact of Toncoin whale movements on the price. The analyst noted that whale activities were at very high rates on the days when the TON price was still hovering around 1-2 dollars.
Serious whale activities were seen especially in the period from April 2022 to October 2022 and from September 2023 to November 2023. More than 40% of TON transactions at that time belonged to whales.
It was stated that in the weeks and months following these high-volume whale activities, the price of TON made a serious jump and rose to the $7 band.
From April 2022 to October 2022 and from September 2023 to November 2023, the price of TON remained at very low levels (between $1 and $2) and whale activity was significantly high. In the following months, the price began to rise and is currently above $7. Watching whale movements in the future can help identify potential price peaks.
According to CoinGecko data, TON, which has increased by 1% in the last 24 hours, is traded at $ 8.14 at the time of writing.