Toncoin [TON] is currently experiencing a significant uptick in activity within the cryptocurrency sphere. Recent data shows a considerable 80% increase in the volume of high-value transactions over the past 24 hours.
Alongside this surge in whale activity, trading volume has begun to rise steadily, with the number of active addresses growing by 30% at the time of writing.
A Noteworthy Surge
The substantial 80% spike in large transactions highlights a heightened interest in Toncoin. Typically, when large investors (whales) become more active in the market, it instills confidence in smaller traders.
This trend could potentially lead to an upward push on prices and possibly a breakout for the altcoin.
Source: IntoTheBlock
Rising Number of Active Toncoin Addresses
Another notable development is the increased trading activity. The 30% uptick in active addresses over the last 24 hours indicates a growing participation in the Toncoin ecosystem.
This influx often translates to improved liquidity. With more participants in the market, the likelihood of smoother transactions increases.
Source: IntoTheBlock
Decrease in Long-Short Ratio
Despite the positive trends, not all metrics are showing growth. According to Coinglass data, the long-short ratio has been declining over the past day, signifying a reduction in investor optimism regarding Toncoin’s price appreciation.
This shift comes amidst the recent Federal Reserve interest rate cuts. While it may signal a more cautious approach, it also hints at a strategic repositioning in anticipation of potential price adjustments.
Source: Coinglass