- The cryptocurrency market recorded a 4% decline in global market value within a single day last week.
- Despite the downturn, large investors, also known as whales, are showing increased activity by purchasing certain assets.
- Notably, major investors are trading against the market trend, hinting at a strategic approach to future market conditions.
Discover how major cryptocurrency investors are reacting to market declines and what this could mean for future trends.
TON Chart Analysis: A Potential Buy Signal?
Toncoin (TON) has seen a price drop of 17% over the past month. However, on-chain metrics such as the Market Value to Realized Value (MVRV) ratio suggest that TON might be undervalued at current levels. This has sparked buying interest among major investors. There has been a 2% increase in the number of TON whales—those holding between 100,000 and 10,000,000 tokens—indicating that these investors see potential upside. As a result, the token may experience an upward price movement, with targets up to $6.81.
Tron Whale Activity: Implications for the Market
Recent data from IntoTheBlock shows a 243% increase in net flows of TRX held by major whales over the past month. This significant rise in holdings by those possessing more than 0.1% of the circulating supply indicates a bullish outlook among major investors. The accumulation trend suggests that whales anticipate a price rally, even though TRX has been trading within a horizontal channel throughout July. If this accumulation continues, it could push prices up to $0.13.
Key Insights for Investors
In light of the recent whale activity, Toncoin appears to be an undervalued asset, representing a potential buying opportunity. Similarly, the increased whale accumulation in Tron is a bullish signal that could precede a price rally. Additionally, BNB’s evolving Chaikin Money Flow (CMF) data hints at a possible bullish divergence, despite its current sideways trading pattern. Investors should keep a close eye on these assets as they may offer significant trading opportunities.
Conclusion
To sum up, despite the overall decline in the cryptocurrency market, whale accumulation in certain assets suggests that these tokens could be gearing up for price rallies. Monitoring these trends could provide valuable insights and trading opportunities for investors.
