Shiba

Notcoin

2024

Toncoin

Shiba Inu

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
Toncoin (TON) is setting the pace for whale transaction count as the market seeks to maintain a balance between coins with a bearish trend and those sustaining their bullish momentum. Toncoin falls on the latter side of the aisle, building on the momentum it has registered since the start of this year.
<a href="https://x.com/ali_charts/status/1797611822499103150">According</a> to an update from top market analyst Ali Martinez, Toncoin whale transactions soared by more than 237% in a single day. By definition, IntoTheBlock noted that whale transactions are those valued at $100,000 or more. As observed on the charts shared by Martinez, the Toncoin whale transaction soared from a low of five transactions over the past week to 27 as of June 3.
<blockquote>
 The number of large <a href="https://twitter.com/hashtag/Toncoin?src=hash&amp;ref_src=twsrc%5Etfw">#Toncoin</a> transactions (over $100,000) has surged by 237.5% in the past 24 hours!This significant increase in <a href="https://twitter.com/search?q=%24TON&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TON</a> whale activity suggests a strategic shift in their investments and positions. <a href="https://t.co/iEHWFgxcp1">pic.twitter.com/iEHWFgxcp1</a>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1797611822499103150?ref_src=twsrc%5Etfw">June 3, 2024</a>
</blockquote> 
<a href="https://u.today/toncoin-ton-skyrockets-in-whale-accumulation-whats-happening">Whale transactions</a> have a way of shifting the narrative around the price of a particular digital currency. With more accumulation, the supply of the cryptocurrency in circulation is reduced, forcing a major crunch which, when matched with sustained demand, can drive the price of the coin higher.
At the time of writing, TON, the native token of Toncoin, is up by 2.76% in the past 24 hours to $6.79. One intriguing trend was observed in the Toncoin ecosystem that further underscored the role of TON whales in fueling the price surge. The&nbsp;<a href="https://coinmarketcap.com/currencies/toncoin/">daily trading volume</a> is down by more than 58% to $208,461,709.
One major factor driving the TON whale transaction is the market action around Notcoin (NOT), the sensational token that launched on The Open Network in May.&nbsp;<a href="https://u.today/binance-expands-offerings-with-near-not-pairs">Notcoin</a> is trying to carve a niche for itself as both a meme coin and a play-2-earn (P2E) game, one that has made it see a surge to an all-time high (ATH) of $0.02896 atop 201% growth in the trailing seven-day period.
Toncoin remains in the top 10 list of most capitalized coins joining the altcoins, keeping Shiba Inu (SHIB)&nbsp;<a href="https://u.today/cardano-ada-makes-epic-top-10-comeback-leaving-shib-and-ton-in-dust">out of the top 10</a>.

Toncoin (TON) Coasting Along With Unusual Whale Transactions

U_Today

Other articles published on Jun 4, 2024

Deutsche Bank Teams Up With Bitpanda To Integrate Crypto Services In Germany – Details

Bitcoin ETFs Attract Significant Investments

The Top 3 Must-Have Coins in June 2024: Dogecoin, Toncoin and Rebel Satoshi Arcade

Pepe Coin and Floki Inu Investors are Switching to MoonBag Meme Coin for a 15,000% ROI

CFTC's Digital Assets Subcommittee Gets New Member From Aptos Labs

Here’s Why Zilliqa (ZIL) May Find It Difficult to Escape Consolidation

Join our free newsletter for daily crypto updates!