Toncoin (TON) Surges in Whale Interest Despite Recent Decline

• Last week, there was a noticeable slowdown in cryptocurrency market activity.
• The global market capitalization decreased by 4% in just the last 24 hours.
• However, certain assets have caught the attention of crypto whales, who are trying to defy the general market trend.

Discover which altcoins are being accumulated by whales and their potential outlook in the coming weeks.

Whales Accumulate Toncoin (TON)

Toncoin (TON), a cryptocurrency linked to the popular messaging app Telegram, experienced a 17% price decrease over the last month. Despite this downturn, data indicates that this decline has created a buying opportunity recognized by crypto whales. The Market Value to Realized Value (MVRV) ratio for Toncoin suggests that the asset is currently undervalued, signaling a buy. As of now, the 30-day and 90-day MVRV ratios for TON stand at -6.39% and -6.87% respectively. This ratio measures the relationship between the current market price and the average price of all acquired tokens. When this ratio is negative, it implies that the current market value is below the average purchase price for most investors, typically presenting a buying opportunity for traders looking to capitalize on the downturn and sell at higher prices. As TON’s price declined, accumulation by whales increased. Santiment’s data shows that the number of TON whales holding between 100,000 and 10,000,000 tokens has risen by 2% over the past month. The number of addresses within this group is at an all-time high. The increased demand from TON whales could also attract retail investors. If this scenario unfolds and the token enters an upward trend, its price could rise to $6.81.

Increasing Large Stakeholders in Tron (TRX)

According to on-chain data from IntoTheBlock, the net inflow of large holders in TRX has shifted significantly, increasing by 243% in the past 30 days. Large holders are defined as addresses holding more than 0.1% of the circulating supply of an asset. Net inflow measures the difference between the coins these investors buy and sell over a given period. An increase in this metric indicates that crypto whales are purchasing more coins, which is seen as a bullish signal for potential price rallies. Despite TRX trading within a horizontal channel throughout July, whales continued to accumulate their holdings. The daily chart data reflects that, at one point, TRX dropped below the lower boundary of this channel towards the end of the month.

BNB Sees Balanced Pressure

Lastly, BNB has caught the eyes of whales as well. The balance between buying and selling pressures for BNB has been noteworthy, which has prevented the asset from displaying a distinct price trend over the last several weeks. However, during this period, BNB’s Chaikin Money Flow (CMF) indicated an upward trend. The CMF measures the money flow into and out of an asset’s market and can identify potential bullish or bearish trends. At the time of writing, BNB’s CMF value stood at 0.24, signaling an optimistic outlook for the asset.

Conclusion

In summary, the activity of whales in the cryptocurrency markets provides meaningful insights into the potential future movements of various assets. Toncoin’s underperformance has attracted substantial whale accumulation, suggesting a potential price increase if this trend continues. Tron’s increase in large holders is a positive signal for its near-term price potential. Finally, BNB’s balanced market pressures, coupled with a rising CMF, indicate a potential bullish period ahead. Investors should monitor these trends closely as they may provide significant opportunities for strategic investments.

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