- Toncoin has experienced an 80% increase in large transactions and a 30% increase in active addresses, reflecting strong market interest.
- Despite these positive trends, the declining long-short ratio sends tentative signals of caution and increased market volatility.
Tonmint [TON] is gaining incredible momentum within the cryptocurrency space. According to recent statistics, the number of large-scale transactions has skyrocketed by 80% in the past 24 hours.
Complementing the aforementioned wave of whales, trading activity has just started to rise, with active addresses up 30% at the time of writing.
A wave to celebrate
The high increase of 80% on large transactions indicates strong interest in Toncoin. When whales put more effort and pressure on the market, confidence among smaller investors often increases.
This could therefore indicate upward price pressure and perhaps a breakout for the altcoin.
Source: IntoTheBlock
Active Toncoin addresses are on the rise
Also worth noting is the trading activity. A 30% increase in active addresses in the last 24 hours means more people are active in the Toncoin market.
This greater inflow usually means greater liquidity. The presence of more participants in the market increases the ability to execute smoother transactions.
Source: IntoTheBlock
Read Toncoin’s [TON] Price forecast 2024-25
Falling long-short ratio
However, not all indicators were positive. According to Coinglass data, the long-short ratio has deepened over the past 24 hours. This indicates that fewer investors are long on the expectation of the rise in Toncoin prices.
Especially with the recent Fed rate cuts. While this could represent a cautious approach, it also signals a repositioning due to possible price adjustments.
Source: Coinglass