Toncoin recently surged with 80% more large transactions and 30% more active addresses. Can it prevent price dips?
Toncoin has experienced an 80% surge in large transactions and a 30% increase in active addresses, reflecting strong market interest.is gaining incredible momentum within the cryptocurrency space. According to recent metrics, the number of large volume transactions has surged massively by 80% in the past 24 hours.
Adding to the aforementioned whale surge, trading activity has just started to climb, with active addresses up 30% at press time.The high increase of 80% in large transactions indicates strong interest in Toncoin. Often, with whales putting more efforts and pressure into the market, confidence increases among smaller investors.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 increased influx usually means greater liquidity. The presence of more participants within the market increases the possibility of conducting smoother transactions.However, not all indicators were positive. According to Coinglass data, the long-short ratio has been sliding deeper in the last 24 hours. This indicates that fewer investors are long on the expectation of the appreciation in the Toncoin prices.
Especially with the recent Fed interest cuts. While this might mean a cautious approach, it is also indicative of repositioning for possible adjustments in price.Kelvin Murithi is a freelancer cryptocurrency price analyst working with AMBCrypto. He has significant experience in financial markets and digital assets. He also has a background in market analysis, investment strategies, and economic forecasting.Subscribe to get it daily in your inbox.
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