Toncoin Whales Make Waves with a Staggering $7.94B Transacted in Just One Day, a 90% Spike That Defies the Recent Slump Seen in Ethereum's Volume

This whale-driven surge underscores Toncoin's rising influence as market conditions shift.

Toncoin (TON) whales have made waves with a staggering $7.94 billion in transactions over 24 hours, marking a 90% spike. This surge comes as the recent market slump has seen a decline in whale activity for other top ten currencies.

The large transactions on Toncoin have increased by 90.78% in the last 24 hours, according to data compiled by IntoTheBlock. This indicator surged, while a comparable metric declined for its main competitors among the top ten most capitalized currencies.

Meanwhile, Toncoin whales have transacted at least $100,000 as the coin's price dropped. The coin's price increased from $4.6k an hour ago to $4.938 at the time of writing, notching a gain of 2.10%.

Overall, the Toncoin ecosystem is showing signs of increasing usage. This is demonstrated by the increase of 10.65% to $168.95 million in real transaction volume, as reported by U.Today. Additionally, there has been a 3.13% increase, bringing the total number of daily active addresses to 1.3 million.

If the overall trend continues, the coin's price might be able to break over the $5 barrier mark and reach new heights. However, to support Toncoin in the long term, the blockchain system known as the Open Network (TON) must undergo significant innovation.

For the time being, TON whale behavior must be stable. Notcoin and DOGS, two of its primary decentralized applications (dApps), aren't getting nearly as much attention as they did a few weeks ago, and that's why.

If we want to see TON used in the long run, new projects need to come out with better use cases. Meanwhile, TON is still trying to break back through its $8.24 ATH.