Toncoin, linked to Telegram, has seen a significant increase in whale activity in recent weeks. Large holders’ netflow has spiked, showing increased accumulation of TON tokens by major investors. Despite this, Toncoin's price remains unaffected due to prevailing bearish sentiment.
Data indicates a 131.63% rise in netflow among large holders over the past week. This suggests that whales believe in a potential price increase. Additionally, large daily transactions involving Toncoin have risen dramatically, signaling intensified engagement from major players.
However, sentiment remains bearish, largely due to short-term holders selling quickly, creating downward pressure on the price. A 29% decline in holding time among short-term holders has been observed over the past month, contributing to a 10% price drop.
Currently, Toncoin trades at $5.09, with potential to drop to $4.46. Alternatively, increased demand could see prices rise above $5.26, potentially leading to a rally towards $6.36.
