At the end of the year, the market faces sell-offs, Toncoin (TON) surges 80% due to increased whale activity🔥🔥🔥

Live the moment, don't miss out on the bull market

Increased whale activity for Toncoin

As the year comes to a close, whale activity for Toncoin (TON) has significantly increased, with large transaction volumes growing by 80%. According to IntoTheBlock data, Toncoin's trading volume reached $8.75 billion in the past 24 hours, a rise of 80.63%.

While market trading activity is sluggish, Toncoin's trading volume has risen accordingly. This indicates that large holders may be accumulating or transferring significant amounts of tokens, with net inflows for large holders surging by 300% over the past week.

TON network develops rapidly

The year 2024 is significant for the TON network, as the popularity of Telegram mini-programs like Hamster Kombat has helped the blockchain attract a large number of new users. By mid-year, TON's daily active users exceeded 5 million.

TON remains one of the fastest-growing blockchains among all Layer 1 (L1) networks, surpassing Polygon and nearing TRON and BNB. TON currently boasts 111 million wallets, significantly higher than the 38.7 million in August.

Cryptocurrency market volatility

As the last few trading days of the year approach, the cryptocurrency market dipped slightly on Monday. Investors are considering the outlook for the U.S. economy and the future direction of the Federal Reserve's monetary policy for 2025. The Federal Reserve hinted that the rate cuts would be smaller, with policymakers set to make key decisions for 2025 at the end of January.

Last week's unemployment claims data showed that initial jobless claims barely decreased, while continuing claims rose to a new high. At the time of writing, Toncoin had dropped 2.08% to $5.71 in the past 24 hours, reflecting sluggish market sentiment.

Live the moment, don't miss out on the bull market