Amid a substantial sell-off in the crypto market, Toncoin has shown a significant increase in transaction volume, indicating heightened activity among large investors.
Increase in Toncoin Activity
In the last 24 hours, Toncoin has shown a notable rise in large transaction volumes, indicating significant activity among large investors. On-chain data shows an increase in transactions valued over $100,000, suggesting accumulation or redistribution of assets.
Crypto Market Downturn
The crypto market continues to witness pressure, with significant sell-offs amounting to $482 million in the last day. Bitcoin, along with most other major cryptocurrencies, has experienced a decline. Dogecoin fell by 3.83%, and Cardano (ADA) decreased by 6.83% over the last 24 hours.
Impact of Economic Factors
The market downfall is partly driven by inflation concerns. Federal Reserve meeting minutes indicate that interest rates might remain elevated, further pressuring the market. Various labor market data have been released this week, and investors are anticipating the nonfarm payrolls report on Friday.
While ongoing pressures continue to impact the crypto market, Toncoin is showing signs of activity, which could signal a shift in sentiment among large holders.
