#Toncoin (#TON ) whales have attracted attention after Bitcoin surpassed $63,000
TON whales have been increasing their savings over the past week. IntoTheBlock’s data revealed a 124 percent increase in whale activity over the past seven days. A large amount refers to addresses that hold more than 0.1 percent of an asset’s circulating supply.
Net flow data measures the difference between the amount of coins they buy and sell over a given period of time. When the metric increases, it indicates that whale addresses have the opportunity to buy more coins.
Whales are encouraging small investors with Toncoin (TON) purchases The increase in whale activity has been the basis for an increase in Toncoin’s price since last week. As of October 7, TON’s daily trading volume has a profit/loss ratio of 3.61, the highest match parity of the last day. The statistic in question shows that for every trade it completed at a loss today, 3.61 trades turned into profits.
The volatility in the onchain data is a bullish signal for TON holders, but it is risky for the price. Investors with higher profit potential may be tempted to sell, which will bring selling pressure. If this happens, TON's momentum could end.
Toncoin whale activity could further increase demand for the popular altcoin. When individual registered notices increased whale activity, they are usually eager to buy, pushing the price upwards. In the event of an increase in demand for TON, the price could increase by 27 percent to 6.81. Then, $7 can be followed as a band resistance.
#altcoins #binance #WeAreAllSatoshi
