- Toncoin has witnessed a 1.07% price correction in the last 24 hours.
- Large transactions and active addresses signal a long-term bullish run.
As a seasoned crypto investor with over a decade of experience in navigating the ever-changing digital asset market, I find myself intrigued by Toncoin’s current trajectory. The recent 108% surge in large transactions and a staggering 35.13% increase in active addresses have caught my attention. These are strong signals that the long-term bullish run might be just beginning.
Toncoin (TON) has experienced a significant increase of 108% in large transactions, and there’s been a notable jump of 35.13% in the number of active addresses. This rise has taken the total active addresses from 2.44 million to 3.3 million.
The surge in the number of major participants, as evidenced by heightened market trading activity, could potentially trigger substantial price fluctuations for TON.
Toncoin price prediction shows…
At the moment, Toncoin’s price was nearing a significant point following an impressive surge in value. Over the past three days, this digital currency experienced a 22% upward trend, but then it shifted its direction.
Over the past day, according to CoinMarketCap, the altcoin has experienced a drop of 1.06%. However, it’s worth noting that over the last week, there has been a significant rise of 14.18%.
Whale on the move as trading activity surges
Large Toncoin transactions, notably those made by bullish investors, have been on the rise, as suggested by the IntoTheBlock data. This surge in significant transactions climbed from 975 to a notable 1,850 transactions.
Based on current market indicators, it appears that whales are expecting a general increase in price, with the potential target being the upcoming resistance level set at approximately $6.02.
As an analyst, I’ve observed a remarkable surge in Toncoin trading activity over the past day. The number of active addresses has spiked impressively by approximately 35%, as revealed by data from IntoTheBlock. This growth suggests a growing bullish sentiment towards Toncoin.
Bulls versus bears
Although there’s been optimistic views shared earlier, it’s worth noting that Toncoin’s long-short ratio has been decreasing since September 9th. This could be an indication of a temporary price adjustment downwards before the market once again heads upwards.
The price correction may be nearing an end, as evidenced by increasing whale and trading activity.
As both whale interactions and market trades align with price fluctuations, it seems we’re witnessing a sustained bullish trend according to all our analytical tools.
In the near future, it’s possible that Toncoin could see a slight decrease, but it’s expected to eventually reach approximately $6.02 in the long run.
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2024-09-12 09:43