Toncoin Tsunami: $1 Billion Whale Activity Shakes Up Price – What’s Next?
Toncoin Tsunami: $1 Billion Whale Activity Shakes Up Price – What’s Next? Though big investors—often referred to as “whales—have lately shown more activity, Toncoin (TONNE) seems to be destined for further choppier seas. This coincides with analysts voicing worries on the declining technical indicators of the bitcoin and possible breakdown of a significant support level. Whales Make A Splash, But Can They Save The Day? Joao Wedson, a crypto analyst at CryptoQuant, noted in a recent study that whale activity on the Toncoin network was rather high. above the previous few weeks, transactions above 100,000 TON—roughly equivalent to $645,000 at current rates—exceeded a startling $1 billion. This suggests that big TON has been actively moved by major holders, but the reason behind these movements is yet unknown. Although the whales are definitely generating a stir, Wedson added that for TON’s price, it’s not always translating to easy sailing. He noted that although big transactions account for almost half of the volume on the network, their effect on the pricing is minor. Smaller transactions, on the other hand, account for a far smaller portion of the total volume even if they account for most of the general activity. Technical Indicators Flash Red Though whale activity has been increasing, Toncoin’s price has shown indications of weakening. Especially, TON lately fell below its 20-day Exponential Moving Average (EMA), a technical indicator meant to track short-term movements. This implies a movement towards selling pressure as the average price of TONNE over the past 20 days has been on a declining slope. Toncoin is currently trading at $6.52. Chart; TradingViewThe approaching crossover of the Moving Average Convergence Divergence (MACD) signal adds to the bearish attitude. Usually indicating a loss of upward momentum and a possible price drop, the MACD line seems ready to dip below its signal line. For TON, these technological markers raise red flags. Should the price exceed the lower line of its ascending channel, which has been functioning as a support level, a decline to $5.70 seems rather likely. Is This A Buying Opportunity Or A Sinking Ship? Investors find the current Toncoin situation perplexing. Though the technical indications show a negative picture, the significant whale activity suggests possible optimistic interest. Still the primary question: are the whales accumulating or spreading? Should they be building, this could present a purchase window before to price recovery. If they are selling up their interests, though, it may indicate a troubled ship. Featured image from Vikks/Shutterstock, chart from TradingView Christian Encila They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one. Disclaimer: The information found on NewsBTC is for educational purposes only. 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