- Toncoin has experienced an 80% surge in large transactions and a 30% increase in active addresses, reflecting strong market interest.
- Despite these positive trends, the declining long-short ratio sends cautious signals caution with increased market volatility.
As a seasoned crypto investor with battle-tested nerves and a knack for reading market trends, I must admit that Toncoin’s [TON] recent surge has caught my attention. The 80% increase in large transactions is reminiscent of a whale stampede, which historically has been a bullish sign. However, the 30% rise in active addresses suggests that retail investors are joining the fray, adding fuel to the fire.
Toncoin (TON) is experiencing significant growth within the realm of digital currencies. As per recent data, there’s been a substantial increase of approximately 80% in large-value transactions over the last day.
Additionally, as previously mentioned, there’s an increase in whale activity, and now, trading activities are on the rise too. At this moment, there is a 30% jump in active addresses.
A surge to celebrate
A significant surge of 80% in major Toncoin transactions suggests a robust enthusiasm towards Toncoin. Typically, as larger players (whales) intensify their involvement and influence in the market, it fosters growing trust among smaller individual investors.
This could, therefore, suggest upward price pressure and perhaps a breakout for the altcoin.
Toncoin active addresses on the rise
It’s noteworthy that there’s been a surge in trading activity. The fact that there was a 30% rise in active addresses within the past 24 hours indicates a higher number of individuals are engaged in the Toncoin market.
An influx increase often leads to enhanced market liquidity. More players in the market boost the chances for seamless trading activities.
Read Toncoin’s [TON] Price Prediction 2024-25
Declining long-short ratio
On the other hand, not all signs point towards improvement. As per Coinglass data, the long-short ratio has been declining significantly over the past 24 hours. This suggests a decrease in the number of investors holding a long position, anticipating an increase in Toncoin prices.
In light of the recent Federal Reserve interest rate reductions, there could be a need for a more cautious strategy since such moves often signal potential changes in pricing ahead.
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2024-09-22 12:07