Toncoin’s (TON) price has consistently risen over the past ten days despite low whale activity. This shows the upward momentum has come from small investors.
According to data provided by Santiment, the number of TON whale transactions, consisting of at least $100,000 worth of the asset, has dropped by 100% over the past month. Since Aug. 26, there have been no Toncoin whale transactions.
On the other hand, the amount of TON’s supply on exchanges has seen a significant rise over the past two weeks. Per the market intelligence platform, the total amount of Toncoin on exchanges has risen by 15% — from 1.28 million coins on Aug. 14 to 1.47 million tokens at the time of writing.
Moreover, Toncoin’s social volume has seen many ups and downs over the past month. On Aug. 24, the asset’s trend on social media almost doubled but has been constantly dropping over the past five days.
Per Santiment, TON’s social volume has plunged 88% since Aug. 25.
TON has emerged as the top gainer among the top 100 cryptocurrencies over the past week, with an 11.55% rise. The asset also surged by 2.9% in the past 24 hours and is trading at $1.51 when writing.
Furthermore, Toncoin’s market capitalization currently stands at $5.17 billion, while its 24-hour trading volume registered a 22% drop, closing down to $20 million.