Cardano

Bitcoin

Toncoin

Read

<ul>
 <li>Whale activity for Toncoin surged by 376% in the past 24 hours.</li>
 <li>Toncoin reached an all-time high of $8.24 on June 15 but has since experienced a minor price decline, down 2.53% to $6.90.</li>
 <li>The MVRV indicator suggests Toncoin may enter a phase of consolidation or range trading in the short term.</li>
</ul>
Toncoin (TON) has recently witnessed a surge in whale activity, marking a significant increase according to on-chain data.&nbsp;
Amidst a recovering market following a bearish start to the week, Toncoin has experienced a notable uptick in large transactions, commonly associated with whale movements. This surge amounts to a remarkable 376% rise in whale activity within the last 24 hours, suggesting heightened interest and possibly strategic moves by large investors.
Notably, Toncoin has faced recent price declines. As of the latest data, <a href="https://www.coinglass.com/currencies/TONCOIN" rel="noopener noreferrer nofollow">Toncoin</a> is down 2.53% over the past 24 hours, trading at $6.90. Despite this decline, the volume of large transactions for Toncoin has reached 1.74 million TON, equivalent to $12.42 million, reflecting the increased involvement of whales in the market.
The surge in whale activity comes on the heels of Toncoin achieving an all-time high of $8.24 on June 15, indicating a period of intense bullish sentiment followed by potential consolidation. The MVRV indicator suggests that Toncoin may be entering a phase of consolidation or range-bound trading in the near term. This indicator, which compares the market value of an asset to its realized value, is currently indicating neutrality with a 30-day MVRV of -0.6%.
This neutral MVRV ratio implies that Toncoin’s market value aligns closely with its realized value, suggesting neither significant overvaluation nor undervaluation at this point. As such, investors are advised to consider additional market signals beyond the MVRV ratio to make informed trading decisions amidst the current market conditions.
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/cardano-shows-bullish-signs-as-mvrv-ratio-improves/" rel="noopener noreferrer nofollow">Cardano Shows Bullish Signs as MVRV Ratio Improves</a></li>
 <li><a href="https://cryptonewsland.com/cardano-may-double-in-price-soon-indicator-suggests/" rel="noopener noreferrer nofollow">Cardano May Double in Price Soon, Indicator Suggests</a></li>
 <li><a href="https://cryptonewsland.com/prolonged-bitcoin-undervaluation-is-a-massive-bull-run-on-the-horizon/" rel="noopener noreferrer nofollow">Prolonged Bitcoin Undervaluation: Is a Massive Bull Run on the Horizon?</a></li>
 <li><a href="https://cryptonewsland.com/unlocking-chainlinks-potential-is-17-the-next-target-for-link-price/" rel="noopener noreferrer nofollow">Unlocking Chainlink’s Potential: Is $17 the Next Target for LINK Price?</a></li>
 <li><a href="https://cryptonewsland.com/xrp-surges-over-80-in-trading-volume-pivotal-juncture-ahead/" rel="noopener noreferrer nofollow">XRP Surges Over 80% in Trading Volume: Pivotal Juncture Ahead!</a></li>
</ul>
The post <a href="https://cryptonewsland.com/toncoin-faces-critical-juncture-after-record-high-whats-next/" rel="noopener noreferrer nofollow">Toncoin Faces Critical Juncture After Record High: What’s Next?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

Toncoin Faces Critical Juncture After Record High: What’s Next?

Crypto News Land

Other articles published on Jun 20, 2024

Crypto Buy-Side Demand Surges 28% on IPO Expectations

Top 10 Influential Women in the Crypto Space You Need to Know

This Solana-based meme coin raises over $300,000 within the first 48 hours of its presale

Players Earn in Mines of Dalarnia

XRP price may drop due to SEC drama; shift to 5thScape for potential 1000X profit

Breakout Rally in AI Tokens FET and PHB Teases 2x Surge

Join our free newsletter for daily crypto updates!