The value of Toncoin (TON) decreased after the arrest of Telegram’s CEO, Pavel Durov. This provided a buying opportunity for whales, who accumulated more TON.
According to Santiment, the number of TON whales has increased by 3% in the past week. Following Durov's arrest, whale addresses dropped to a 30-day low of 131, contributing to a sharp decline in price.
These whales now control 53.17% of TON's circulating supply. Additionally, there's been a 5% drop in TON tokens held on exchanges, indicating a long-term holding strategy among investors.
Toncoin's moving average convergence/divergence (MACD) indicator shows rising demand, suggesting a possible price increase to $5.95 if the bullish trend continues.
