Flow

bullish

Value

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/whales-increase-accumulation-of-cryptocurrencies/" data-wpel-link="internal">Whales Increase Accumulation of Cryptocurrencies</a><br></p>
<p class="p1" style="text-align: justify">Last week, a decline in the <a href="https://en.coin-turk.com/what-is-facebooks-libra/" data-wpel-link="internal">cryptocurrency market</a> ignited, highlighted by a 4% drop in global market value recorded in the last 24 hours. However, some assets witnessed an increase in whale attention as major <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> tried to trade against the general market trend, expecting a rise in the coming weeks.</p> 
<h2 class="p1" style="text-align: justify" id="ton-chart-analysis">TON Chart Analysis</h2> 
<p class="p1" style="text-align: justify">Toncoin’s (TON) price experienced a 17% drop last month. However, on-chain <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data shows</a> this presented a buying opportunity that whales noticed. Readings from TON’s Market Value to Realized Value (MVRV) ratio indicate that the altcoin is currently undervalued and gives a buy signal.</p> 
<p class="p1" style="text-align: justify">As TON’s price dropped, whales continued to increase their accumulation. According to Santiment data, the number of TON whales holding between 100,000 and 10,000,000 tokens increased by 2% in the last month. The number of addresses forming this group of TON holders is currently at an all-time high.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-376841 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/ton-veri.webp" alt="" width="2048" height="693"></p> 
<p class="p1" style="text-align: justify">The increase in whale demand for TON could also attract the interest of individual investors. If this happens and the token starts an upward trend, the token price could rise to $6.81.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-376840 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/ton-grafik-scaled.webp" alt="" width="2560" height="1192"></p> 
<h2 class="p1" style="text-align: justify" id="tron-chart-analysis">Tron Chart Analysis</h2> 
<p class="p1" style="text-align: justify">On-chain data from IntoTheBlock revealed a significant 243% increase in the net flow of TRX’s major holders over the last 30 days.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-376839 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/itb.webp" alt="" width="1200" height="800"></p> 
<p class="p1" style="text-align: justify">Major holders refer to addresses holding more than 0.1% of an asset’s circulating supply. Their net flows measure the difference between the tokens these investors bought and sold over a certain period. When it rises, it means crypto whales are buying more tokens. This is considered a bullish sign indicating a potential price rally.</p> 
<p class="p1" style="text-align: justify">It is important to note that TRX whales increased their accumulation despite the token’s sideways movements in the last month. Readings from the daily chart show that the altcoin traded within a horizontal channel throughout July and fell below the lower line of this channel on the last trading day of the month. If whale accumulation continues, it could trigger more widespread demand for the token. This could lead to a price rally causing TRX to trade at $0.13.</p> 
<p><img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-376838 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/tron-scaled.webp" alt="" width="2560" height="1192"></p> 
<h2 class="p1" style="text-align: justify" id="bnb-chart-analysis">BNB Chart Analysis</h2> 
<p class="p1" style="text-align: justify">The relative balance between BNB’s buying and selling pressures has prevented its price from showing a strong trend in either direction over the past few weeks. However, the token’s Chaikin Money Flow (CMF) maintained an upward trend during this period. This indicator measures the money flow entering and exiting an asset’s market, and as of the date of writing, BNB’s CMF data recorded at 0.24.</p> 
<p class="p1" style="text-align: justify">A rising CMF with sideways price movement indicates a potential bullish divergence. It shows an increasing money flow into the asset and is usually a sign of accumulation by larger investors. Although BNB’s price consolidates sideways, the rising CMF data indicates the token’s fundamental strength is increasing. If BNB successfully breaks out upwards from this range, its price could reach $617.</p> 
<p><img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-376837 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/bnb-scaled.webp" alt="" width="2560" height="1192"></p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/whales-increase-accumulation-of-cryptocurrencies/" data-wpel-link="internal">Whales Increase Accumulation of Cryptocurrencies</a></h5>
<p>The post <a href="https://en.coin-turk.com/whales-increase-accumulation-of-cryptocurrencies/" data-wpel-link="internal">Whales Increase Accumulation of Cryptocurrencies</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Whales Increase Accumulation of Cryptocurrencies

Table of Contents

COINTURK NEWS

Other articles published on Aug 4, 2024

Australia to jail Cryptocom user who stole $6.09 million

Next Cryptocurrency to Explode Sunday, August 4 — TRON, OKB, Casper Network, UNUS SED LEO

Starknet Recovers From Discord Server Attack of Malicious Links

Tether (USDT) Breaks Records with 18M Weekly Transactions on EVM Chains led by Tron

Solana Trader Says RCO Finance is Copying a Chart Pattern that Resulted in an 8,440% Rally for Sh...

ChainGPT: Bridging AI and Blockchain with Ilan Rakhmanov - The Best Ongoing Presales in 2024

Join our free newsletter for daily crypto updates!