Toncoin (TON) continues its impressive run as the fastest-growing cryptocurrency on the market. While its price appreciation has been noteworthy, on-chain data suggests a deeper story—one fueled by the activity of large investors, often referred to as “whales.”
Analyzing recent on-chain transactions reveals a significant increase in whale activity. The number of large transactions spiked on June 23rd, reaching 32, a clear indication of heightened interest among major holders. This trend is further emphasized by the substantial volume associated with these transactions. On June 27th alone, the volume reached a staggering 172 million TON, signifying a considerable build-up of Toncoin by these whales.
Historically, such activity often precedes significant price movements. The consistent upward trend on Toncoin‘s moving averages across various timeframes (50-day, 100-day, and 200-day) further strengthens the case for a potential rally. This sustained bullish momentum suggests whales might be positioning themselves for a price surge.
With the current price hovering around $7.50, the next major resistance level sits at $8.00. Another crucial indicator to watch is the Relative Strength Index (RSI). Currently resting at a neutral 57, the RSI implies that Toncoin has room for growth. A move towards the 70 level on the RSI would significantly bolster the bullish case and potentially trigger a price rally.
Beyond the immediate price action, Toncoin’s underlying fundamentals remain robust. The platform is attracting a growing number of developers to its burgeoning ecosystem, thanks in part to its association with one of the world’s largest messaging apps. While Toncoin’s ability to compete with established giants like Ethereum and Solana remains to be seen, its recent growth and the backing of major investors paint a promising picture for the future.
