Toncoin (TON) has been steadily gaining attention as its top 100 whale wallets continue to accumulate the asset. Since 2021, this trend of growing whale balances underscores strong long-term conviction in TON’s potential. The sustained accumulation by these large holders suggests a belief in future price appreciation and serves as a potential leading indicator of bullish momentum. As such, monitoring whale activity is increasingly vital for gauging upcoming liquidity shifts and market sentiment within the TON ecosystem.
TON’s Support Zones Strengthen as Profitability Remains High
According to IntoTheBlock data, over 71% of TON holders are currently “in the money,” reflecting widespread profitability. This reduces the likelihood of immediate sell-offs, with just 11.52% of holders underwater. Notably, a considerable volume of accumulation occurred below the $3.05 level, establishing a strong support base. On the flip side, resistance may emerge between $5 and $6, where holders could look to exit and break even. Meanwhile, transaction data shows an uptick in activity across both retail and institutional investors—particularly those transacting between $1M and $10M, which surged by nearly 80%.
Derivatives Surge, Technicals Hint at Imminent Breakout
TON’s derivatives market has also heated up, with a 14.95% rise in trading volume to $174.86 million and Open Interest climbing 4.28% to $230.72 million. This indicates growing speculative interest, supported by the asset’s symmetrical triangle formation—a common precursor to breakout moves. If TON breaks above the $3.505 resistance, technical projections suggest a rally toward $4.72. However, failure to hold above $3.097 support could trigger a retracement to $2.28. With Binance liquidation heatmaps highlighting short squeeze zones near $3.31 and $3.50, a decisive move past these levels could spark accelerated gains.
While TON’s price remains in a consolidation phase, strong whale accumulation, rising derivatives activity, and high holder profitability suggest bullish undercurrents. If bulls can flip $3.50 into support, Toncoin may be poised for a significant breakout. The data points toward continued optimism rather than a distribution phase—hinting at a bullish continuation in the near term.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
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I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
