Toncoin’s Price Rises Despite Low Whale Activity
Toncoin’s price has been steadily increasing over the past ten days, even though there has been a decrease in whale activity. This suggests that the upward momentum is driven by small investors. Here are the key points:
1. Whale Transactions: The number of Toncoin whale transactions, which are transactions worth at least $100,000, has dropped by 100% in the past month. There have been no whale transactions since August 26.
2. Supply on Exchanges: The amount of Toncoin available on exchanges has increased by 15% in the past two weeks. The total supply on exchanges went from 1.28 million coins on August 14 to 1.47 million tokens.
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3. Social Volume: Toncoin’s social media volume has been fluctuating over the past month. It almost doubled on August 24, but has been steadily decreasing over the past five days. Overall, the social volume has plunged 88% since August 25.
4. Top Gainer: Toncoin has emerged as the top gainer among the top 100 cryptocurrencies in the past week, with an 11.55% rise. In the past 24 hours, it has surged by 2.9% and is currently trading at $1.51.
5. Market Capitalization and Trading Volume: Toncoin’s market capitalization is currently $5.17 billion, while its 24-hour trading volume has dropped by 22% to $20 million.
Hot Take
Toncoin’s price rise despite low whale activity indicates growing interest from small investors. The increase in supply on exchanges may be contributing to the price momentum. However, the fluctuating social volume suggests mixed sentiment among investors. Toncoin’s performance as the top gainer in the past week is noteworthy, but the decrease in trading volume raises concerns about liquidity. Overall, Toncoin’s current market position and price trajectory warrant close attention.
