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Tonquin (TON) has seen increased activity over the past 24 hours, with a total of 1.55 billion coin transactions recorded among market participants. The value of these transactions amounts to approximately $8.86 billion.
Whale activity fuels Toncoin transaction volume
According to IntoTheBlock DataThe value of these transactions is more than $100,000. This comes to a number of 1,740 during the past 24 hours. This rise in transaction volume comes amid continued bullish sentiment for TON. Investors have reignited interest in the asset as the price maintains notable gains in the market.
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As of this writing, TON is exchange The stock price reached $5.69, an increase of 0.51% over the past 24 hours. Trading volume also increased by 4.94%, reaching $149.38 million. In the past seven days, Toncoin rose from a low of $5.4025 to a high of $5.809 before settling at its current level.
Analysts point out that the current price dynamics have been greatly influenced by these whales carrying out large transactions. Notably, potential investors get a confidence boost from increased activity and are attracted to bet on the asset.
With TON currently trading approximately 32% off its price Highest level ever (ATH) of $8.24, which was set about seven months ago, has sparked optimism. If TON whales maintain the current transaction volume, TON can retest a new price level by taking advantage of bullish sentiment.
Bitcoin's impact on Toncoin's prospects
The expectations of a rise in TON prices are further supported by the continued increase in the price of Bitcoin (BTC), which once again flipped the $100,000 level. With BTC price reaching over $101,035, most altcoins could see a similar rally.
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With recent activities, investors may expect TON to regain its place among the top 10 coins in the industry. How quickly this is achieved may depend on TON whales, who continue to support the blockchain.
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