Whale Toncoin Makes Transactions Soar 306%, Pursue XRP

Whale Toncoin makes transactions jump 306%, chase XRP (Photo; Doc. Thecoinrepublic)

JAKARTA - Toncoin (TON) recorded an impressive 306% spike in large-holder transaction volume, which shows whale activity. According to data from IntoThe Block, in the last 24 hours, TONS saw an increase of 306.05% in large transaction volumes, reaching 9.7 million US Dollars or about 1.3 million TONS.

This massive increase in transactions indicates that largeholders may be adjusting their positions. The volume of large transactions often provides an overview of the total number transacted by whales and institutional players on certain days. An increase in the volume of large transactions can show high activity among institutional players who are buying or selling.

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Reporting from U.Today, a large Japanese crypto exchange called OKcoinJapan, recently announced a listing of Toncoin, which increases TON exposure on the Asian continent. This move is expected to encourage the wider adoption of Toncoin in the Asian market.

In recent months, Toncoin's market cap has surpassed several other cryptocurrencies, making it one of the top 10 crypto assets based on market value. Currently, Toncoin is just behind XRP in terms of market capitalization, suggesting a possible change in the top digital asset sequence.

According to data from CoinMarketCap, XRP is still leading the lead, but Toncoin's current growth trend suggests that TON could challenge XRP's position in the near future. By the end of this report, Toncoin's market cap reached 18.43 billion US Dollars (around Rp302 trillion), making it the eighth largest crypto asset by market ranking. Meanwhile, XRP is in seventh place with a market capitalization of 26.02 billion US Dollars (around Rp429 trillion).

At the time of writing, the price of Toncoin fell 2.10% in the past 24 hours to 7.48 US Dollars (around Rp122,672), but still 9% higher in the past week. This decline has not stopped Toncoin's continued rate of rise indicating great potential in the global crypto market.