Crypto Whales Accumulate Toncoin, Tron, and Binance Coin

Cryptocurrency Market Activity Declines, Whales Show Increased Interest

The cryptocurrency market has seen a decline in activity over the past week, with global market capitalization dropping by 4% in the last 24 hours. Despite this overall trend, some assets are experiencing a surge in interest from crypto whales, signaling anticipation of a upcoming rally.

Toncoin (TON) Sees Uptick in Crypto Whales Count

Toncoin (TON), the cryptocurrency associated with the popular messaging app Telegram, has recently experienced a 17% drop in price over the past month. However, on-chain data reveals that whales view this as a buying opportunity, as the coin’s Market Cap to Realized Value (MVRV) ratio indicates undervaluation.

Currently, TON’s MVRV ratio compared to various moving averages is negative, with both the 30-day and 90-day averages showing -6.39% and -6.87% respectively.

As the price of TON drops, whale holdings have increased, with a 2% rise in the number of TON whales holding between 100,000 and 10,000,000 tokens in the past month. This surge in whale activity indicates a potential increase in individual investor interest.

Large Holders Increase Their Tron (TRX) Holdings

Data from IntotheBlock reveals a 243% increase in net inflows from large Tron (TRX) holders over the past 30 days. Despite TRX trading sideways, accumulation by TRX whales has continued to rise.

If whale accumulation persists, it could lead to wider demand for TRX, potentially pushing the price to $0.13.

Binance Coin (BNB) and Its Emerging Bullish Divergence

While Binance Coin has been experiencing a relative balance between buying and selling pressure, its Kaikin Fund Flow (CMF) has shown a consistent upward trend. With a CMF of 0.24, BNB may be indicating a bullish divergence as inflows into the asset increase.

If BNB breaks out of its current range, the price could potentially reach $617.