Toncoin (TON) is down over 24% year-to-date. The altcoin has closed the last three consecutive months in the red as broader crypto market sentiment weakens and investor risk appetite fades.
Toncoin Monthly Price Returns. Source: CryptoRankDespite this, Santiment highlighted that TON’s top 100 wallets have been net buyers throughout the entire drawdown. On-chain data reveals that the wallet addresses collectively added 189,730 tokens over the past three months.
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Adding a technical catalyst to the mix, the TON network activated the Catchain 2.0 upgrade this week. The upgrade reduces confirmation times to under 1 second, directly improving the usability of Telegram mini-apps, payments, and high-frequency on-chain activity.
This is step one of TON’s seven-phase “Make TON Great Again” roadmap, with fee reductions planned next.
Thus, the overall picture is cautiously bullish. Heavy whale accumulation and a major protocol upgrade offer positive signals. However, with the broader crypto market still under pressure, a sustained reversal may require macro sentiment to shift first.
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The post TON Loses 24% of Its Market Cap, Yet Its Biggest Holders Are Buying More appeared first on BeInCrypto.
Source: https://beincrypto.com/toncoin-whales-accumulate-three-red-months/
