In a striking market move, Toncoin (TON) whales have awakened, pushing the large transaction volume up by a remarkable 90.78% over the past 24 hours. According to recent data from IntoTheBlock, TON whales managed transactions totaling $7.94 billion, contrasting with Ethereum‘s volume drop of over 10% to $5.7 billion. This surge underlines Toncoin’s growing momentum as the token’s backers continue to reinforce the network’s activity and stability.

Price Dynamics: Will TON Hold the $5 Level?

Despite the recent increase in transaction volume, TON’s price showed mixed movements. Currently trading at $4.938, Toncoin is up by 2.1% but still below its daily peak. If this market activity persists, analysts believe TON could sustain its price above the critical $5 resistance level, potentially setting it on a path to retest its all-time high of $8.24.

Transaction and User Metrics on the Rise

Supporting this price action is the growth in network metrics, as Toncoin’s total transaction volume rose by 10.65% to $168.95 million, while daily active addresses increased by 3.13%, reaching 1.3 million. These indicators reflect an expanding user base and intensified engagement, which are crucial for long-term stability and price resilience.

Future Outlook: Innovation Needed for Continued Growth

For Toncoin to maintain its upward trajectory, ecosystem expansion and innovation within The Open Network (TON) are essential. While projects like Notcoin and DOGS initially generated excitement, sustained progress will depend on launching new applications that deliver innovative use cases. This strategic focus could cement Toncoin’s position as a top-tier asset in the crypto market.

As TON eyes its previous highs, all eyes are on the whale movements and the potential for ecosystem growth to push Toncoin into a new era of adoption and market dominance.