With the popularity of the Telegram messaging app, the cryptocurrency Toncoin has experienced a growth of nearly 20% in the last 30 days. The altcoin hit a new high of $8.24 on June 15, but is now trading at about $7.59.

The TON whales are aggressively increasing their reserves as coin holders anticipate its further growth. There has been a 12% increase in the number of TON investors holding 10 million to 100 million tokens over the past 30 days, according to on-chain analysis.

There are 7,319 addresses that fall into this category of hodlers at the moment, the highest number since the token's launch.