According In the block According to data, Toncoin (TON) has caused a staggering 306% increase in transaction volume for large holders, denoting whale activity.
According In the block According to data, Toncoin (TON) has caused a staggering 306% increase in transaction volume for large holders, denoting whale activity.
In the last 24 hours, TON has seen a 306.05% increase in large trading volume, reaching $9.7 million, or 1.3 million TON. The recent increase in large-scale transactions involving Toncoin, with individual transactions exceeding $100,000, suggests that large holders could be readjusting their positions.
The sheer volume of transactions often provides an idea of the total amount traded by whales and institutional players on a given day. Increases in large transaction volume could indicate high activity among institutional players, either buying or selling.
Tomiwabold OlajideIn related news, major Japanese cryptocurrency exchange OKcoinJapan recently announced the listing of TON, increasing its exposure to the Asian continent.
Toncoin follows XRP
In recent months, TON’s market capitalization has surpassed other cryptocurrencies, placing it in the top 10 cryptocurrencies by market value.
Toncoin is currently trailing XRP in terms of market capitalization, suggesting a possible reordering of the top digital currencies.
According to data from Market capture of coinsXRP maintains the lead, but Toncoin’s current growth trend suggests that it could challenge XRP’s position soon. According to the latest figures, Toncoin’s market cap is still lower than XRP’s, which is solid.
Tomiwabold OlajideAt the time of writing, Toncoin’s market capitalization was $18.43 billion, making it the eighth largest cryptocurrency by market ranking. XRP is the seventh largest cryptocurrency by market capitalization, with a market capitalization of $26.02 billion.
At the time of writing, Toncoin was down 2.10% in the last 24 hours to $7.48, although it was up 9% on a weekly basis.
