- TON began the month with an almost 1% increase.
There has been more whale accumulation recently.
As a seasoned crypto investor with experience in analyzing market trends and price movements, I find Toncoin’s recent performance intriguing. The token started the month on a positive note, with an almost 1% increase from the previous month’s close. This uptrend continued, bringing TON closer to its all-time high.
Recently, TONcoin (TON) has seen a surge in value, drawing nearer to its peak price. Large investors, often referred to as “whales,” have taken notice and have been purchasing substantial amounts of tokens.
As an analyst, I’ve noticed an intriguing trend in the Toncoin market lately. Despite whales continuing to amass large quantities of coins, the price volatility for Toncoin has actually decreased noticeably over the past few weeks.
Toncoin starts strong
According to AMBcrypto’s assessment, Toncoin is exhibiting an upward trend. The daily chart reveals that the coin ended the last month with a favorable close at approximately $7.6, registering a minimal growth of under 1%.
In the new month, the pattern persisted for TON, with its value hovering around $7.7 and a minimal rise of approximately 0.5%. This latest price behavior brings Toncoin close to its record high of roughly $8.1, suggesting it is inching closer to reaching this pinnacle.
Based on the chart analysis, Toncoin is currently experiencing an uptrend. The yellow line in the chart represents the short moving average, which has been providing robust support throughout this upward trend.
“This level has enabled TON to keep climbing, remaining above it as a significant support.”
Based on a more detailed examination using the Moving Average Convergence Divergence (MACD) indicator, the results show conflicting signs. The MACD lines currently reside beneath the zero mark, which is generally indicative of downward momentum and potentially bearish trends.
However, the MACD lines trend above zero, indicating underlying bullish sentiments.
The significant difference between these trends could indicate possible market instability or a pivotal moment, where the direction of Toncoin may change due to external market influences or internal factors within its ecosystem.
Toncoin’s volatility declines
As a researcher studying Toncoin’s price behavior, I’ve observed a significant decrease in price fluctuations around its all-time high. This trend implies a more stable period for the asset.
As a crypto investor, I’ve closely monitored historical data from Santiment and noticed that the last substantial increase in market volatility took place around March. The volatility index spiked up to roughly 0.25% during that time.
Since then, there has been a marked decrease in volatility, with current levels at just 0.046%.
The fact that Toncoin’s volatility is now relatively low is noteworthy. It implies that the cryptocurrency is currently experiencing a period of price tranquility. This calm market condition might draw in more investors with a long-term perspective, thereby decreasing the probability of significant price declines resulting from massive sell-offs.
As a crypto investor, I’ve noticed that Toncoin’s price has remained fairly consistent lately. This could be a sign of investor confidence in Toncoin’s potential value and future prospects. Alternatively, it might simply reflect a balance between buyers and sellers in the market, with no clear trend emerging.
Whales accumulate a TON
As a crypto investor, I find the supply distribution analysis of Toncoin by Santiment to be quite intriguing. In this analysis, they delved into the actions of significant investors, specifically those who hold between 10,000 and 100,000 TON tokens. This information gives me valuable insights into the market dynamics and can help inform my investment decisions.
Near the end of the month, we saw a significant rise in the number of “whale” wallets, surpassing 150 – one of the greatest increases noted.
As a researcher examining this data, I’ve noticed a substantial growth in the number of tokens held by these investors. Specifically, they have acquired over 45 million TON tokens, equivalent to an impressive value of around $346 million.
Read Toncoin (TON) Price Prediction 2024-25
Based on their actions, it appears that these major investors are taking advantage of tonton’s present peak prices as it nears its record high (ATH).
As a researcher studying investment behavior, I would describe this strategic amassing of assets as a sign of optimism among investors. They likely hold the belief that the value of the asset will continue to rise.
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2024-07-01 15:03