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Toncoin (TON) Surges 80% in Whale Activity as Market Faces Selling at Year’s End
As the year draws to a close, market sentiment appears to be shifting towards a selling mood. With many investors looking to lock in profits ahead of the new year, Toncoin (TON) has surprisingly surged 80% in recent whale activity.
According to data released last week, initial jobless claims for the week ending December 21 declined only slightly and fell short of predictions. Meanwhile, continuing claims for the same period rose to their highest level since November 2021. This mixed bag of economic indicators may have contributed to a lackluster market sentiment, as reflected in the price action of Toncoin (TON).
At the time of writing, TON was trading at $5.71, down 2.08% over the past 24 hours. Despite this decline, it’s worth noting that whale activity has played a significant role in driving the token’s recent surge.
While many investors may be looking to cut their losses ahead of the new year, some savvy traders appear to be buying up TON at discounted prices. As we head into the final days of 2024, it remains to be seen whether this trend will continue or if the market will shift towards a more bearish sentiment.
As always, we recommend conducting your own research and consulting financial experts before making any investment decisions.
Source: u.today
