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Toncoin (TON), the native cryptocurrency of the decentralized layer-1 blockchain The Open Network (TON), has witnessed a staggering 983.31% surge in large transaction volume. This key metric, often associated with whale activity, signifies increased engagement among institutional buyers and sellers.JOIN CRYPTOS HEADLINES<a href="https://t.me/CryptosHeadlines" rel="noopener noreferrer nofollow">TELEGRAM CHANNEL</a><img src="https://academy-public.coinmarketcap.com/optimized-uploads/856febfddd4141399554e328cc4ca028.svg&#43;xml" />Large transaction volumes, defined as transactions exceeding $100,000, are a critical indicator of whale activity. The recent surge suggests a significant rise in the number of large-scale transactions involving Toncoin, highlighting the growing interest from <a href="https://cryptosheadlines.com/blackrocks-ibit-bitcoin-etf-sees-major-inflows-amid-market-uncertainty/" rel="noopener noreferrer nofollow">major market players despite the prevailing market uncertainty</a>.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/6495137891b647538d881d0a6a646389.png" /><h3 id="ton-experiences-significant-increase-in-large-transaction-volume">TON Experiences Significant Increase in Large Transaction Volume</h3>According to IntoTheBlock data, TON’s large transaction volume reached $4.1 million, which translates to 559,590 TON in cryptocurrency terms.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/912c805e6a8444a79b2c35720f20a303.webp" />Large Transactions Volume, Courtesy: <a href="https://app.intotheblock.com/coin/TON/deep-dive?group&#61;financials&amp;chart&#61;largeTransactions" rel="noopener noreferrer nofollow">IntoTheBlock</a>As of now, TON has increased by 1.86% in the last 24 hours, reaching $7.29. This price movement comes <a href="https://cryptosheadlines.com/bitcoin-approaches-record-highs-amid-mixed-market-feelings/" rel="noopener noreferrer nofollow">amid mixed market</a> activity ahead of the upcoming June inflation data, which will be reflected in the producer price index tracking wholesale prices.<h3 id="cryptocurrency-market-reacts-to-inflation-data-and-interest-rate-speculations">Cryptocurrency Market Reacts to Inflation Data and Interest Rate Speculations</h3>Even as investors processed the recent inflation data and its implications for <a href="https://cryptosheadlines.com/fomc-meeting-us-fed-raises-interest-rate-by-25-bps-and-bitcoin-price-surges/" rel="noopener noreferrer nofollow">interest rates</a>, the cryptocurrency market continued to experience volatile price movements.The June consumer price index (CPI) unexpectedly fell by 0.1% from the previous month, reaching 3% on an annual basis, its lowest level in more than three years. Dow Jones economists had estimated the inflation metric to grow by 0.1% from May and 3.1% from the previous year. Additionally, the core CPI, which excludes food and energy prices, increased by 0.1% monthly and 3.3% year-on-year. These increases were also slightly lower than expected.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/6495137891b647538d881d0a6a646389.png" />Investors have been looking for data indicating that inflation is returning to the Federal Reserve’s 2% target, as this could imply forthcoming interest rate reductions. Expectations for the Fed to soften monetary policy as soon as September increased following the release of the CPI data, with traders last <a href="https://cryptosheadlines.com/bitcoin-price-rally-expected-with-march-fed-rate-cuts/" rel="noopener noreferrer nofollow">pricing in a more than 90% likelihood of rate cuts</a> occurring then.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/61552336a6f74a05a380b79264f85ed2.png" />Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

TON Sees 983% Surge in Whale Activity Amid Market Uncertainty

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Andre artikler udgivet 12. jul. 2024

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