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Title: Toncoin (TON) Skyrockets 111% in Whale Activity as Markets Await Major Move
In a stunning turn of events, Toncoin (TON) has seen an unprecedented surge of 111% in whale activity, amid the broader crypto market’s relief rally. On Thursday, a handful of cryptocurrencies were able to sustain gains and trade in green, sparking renewed interest in alternative assets.
The market’s sudden shift came as U.S. stocks experienced their largest surge since 2008, with the S&P 500 Index rising 9.5% and the tech-heavy Nasdaq 100 increasing 12%. This remarkable turnaround has led traders to reevaluate their positions and potentially revisit underperforming assets.
As a result, massive liquidations of over $457 million in the last 24 hours have taken place, with shorts accounting for $321 million – the largest since early March. While this may seem like a cause for concern, it is worth noting that these significant losses were partially mitigated by Monday and Tuesday’s downturns, when Bitcoin dipped to around $75,000.
With market uncertainty still prevalent, traders are keenly monitoring developments for any insight into the positioning of institutional investors and their potential impact on the cryptocurrency market.
Source: https://u.today/toncoin-ton-skyrockets-111-in-whale-activity-as-markets-await-major-move
