Cryptocurrency sharks are buying up Toncoin amid market stagnation
Analyst Ali Martinez reported that cryptocurrency sharks are buying Toncoin (TON) amid stagnation in the digital asset market.
“Over the last week, whales bought more than 45 million Toncoins worth about $36.5 million,” Martinez wrote.
Ali classifies as crypto whales the owners of wallets that contain from 10,000 to 100,000 TON worth from $78,400 to $784,000 at the current exchange rate. That is, he includes in this group traders who are usually called sharks.
The chart published by Martinez shows that money people began to actively increase Toncoin reserves on June 23 and bought more coins every day. Accordingly, the process of accumulation of virtual currency gained momentum.
Despite the deals made by sharks, the Toncoin rate did not take off. Over the past week, the cryptocurrency has risen in price by only 3.5%. However, since February 2024, the TON market has been dominated by a bullish trend, so in the future the cryptocurrency may greatly increase in price. This is also evidenced by the activity of rich crypto investors, which Martinez drew attention to.
