Toncoin [TON] is seeing impressive growth in the cryptocurrency space. According to the latest data, the number of large volume transactions has skyrocketed by 80% in just 24 hours.
In tandem with the increase in whales, trading activity has also started to pick up, with the number of active addresses increasing by 30% at the time of writing.
Celebration Trading Explosion
The 80% increase in large transactions shows significant interest in Toncoin. Typically, when whales increase pressure on the market, this often strengthens the confidence of smaller investors.
Therefore, this could be a sign of bullish pressure and a potential breakout for the altcoin.
Toncoin Address Activity Is Increasing
Another notable point is the increase in trading activity. The number of active addresses has increased by 30% in the last 24 hours, indicating that more people are entering the Toncoin market.
A surge in inflows usually means higher liquidity. More investors are participating in the market, making trading smoother and more efficient.
The long-short ratio is decreasing
However, not all indicators are positive. Data from Coinglass shows that the long-short ratio has dropped sharply in the last 24 hours, reflecting that fewer investors are expecting the price of Toncoin to increase.
This is especially notable in the context of the Fed’s recent rate cut. While this may indicate that investors are taking a cautious approach, it also implies that the market is repositioning itself in preparation for upcoming price corrections.
