Toncoin has observed a significant rise in the exchange inflows, where more than 240,000 TON has been transferred in the last one week.
Toncoin price has observed a significant decrease over the last week, which may be attributed to an increase in selling pressure, as indicated by on-chain metrics.
A large amount of Toncoin was transferred to exchanges, which is a sign of possible selling pressure. When large amounts of tokens are deposited on trading platforms, it implies that holders may be planning to sell, thus increasing the market supply.
This trend affects the price in case the demand fails to increase to balance the supply pressure.
Moreover, crypto’s inability to sustain earlier support levels may indicate that the traders are taking profits or de-leveraging. If this pattern continues, then further corrections may occur in the short term.
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