Whale Dumps Ethereum (ETH) for Rallying Toncoin (TON) Amid Major Collaboration and Potential Listing

According to on-chain data analytics firm Spotonchain, a crypto whale with the address 0x1ee69225a391ffb285ba7fec08b03e8a4e09c47c made a significant move in the Toncoin (TON) market. The whale swapped 205 ETH for 198,863 TON, worth approximately $816,000, at an average price of $4.103 in the past 8 hours.

Moreover, in the past 25 hours, the whale has swapped a total of 214 ETH for 209,237 TON at an average price of $4.074, amounting to $852,000.

Toncoin, a decentralized and open internet created by the community using Telegram’s technology, experienced a 28.1% price pump in the past 24 hours, according to Spotonchain. This surge coincided with Telegram CEO Pavel Durov’s revelation about a potential IPO listing for the social app.

The Whale’s Trading History and Portfolio

The Whale’s trading activities span various cryptocurrencies, with both realized and unrealized profits and losses. Notably, the whale gained $9,110 (+2.97%) from trading 532,625 PIXEL between February 27 and March 9, 2024, and $7,139 (+59.2%) from trading 198 SOL between November 20, 2023, and January 6, 2024.

The whale, however, also faced losses, including $63.9K (-14.4%) from trading 100,023 BAND between July 24 and 27, 2020, and $28.4K (-10.4%) from trading 2,051 QNT between December 25, 2023, and January 6, 2024.

Additionally, the whale’s current portfolio holds significant positions, with unrealized gains and losses. These include an estimated profit of $1.59M (+73.7%) from holding 408 ETH ($1.65M), $260K (+179%) from holding 439,209 LMWR, $639K (+372%) from holding 1.65M CGPT, $68.1K (+7.99%) from holding 209,237 TON, and a loss of $13.8K (-2.59%) from holding 593,692 STORJ.

TON’s Ecosystem Expansion and Mainstream Adoption

In a significant development, the TON Foundation announced its collaboration with Fireblocks and DWF Labs. This partnership aims to bring advanced and secure direct custody technology to everyday people, making Web3 safer and more accessible.

Besides, Fireblocks’ integration with TON will enhance security and facilitate DeFi integrations. DWF Labs will bridge the gap between TON’s retail-focused ecosystem and Fireblocks’ enterprise-level services, developing a Web3 ecosystem ready for mainstream adoption.

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According to CoinGecko, the price of Toncoin (TON) is currently $4.38, with a 24-hour trading volume of $425,448,631.26. This represents an 18.05% price increase in the last 24 hours and a remarkable 64.67% price increase in the past 7 days, indicating growing interest and adoption of TON.

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Samuel Munene
Samuel Munene

Samuel is a vesatile and seasoned content editor with a sharp eye for detail and a passion for writing. Web3 techonology is the future! With massive experience in the publishing industry, I specialize in refining and enhancing written material to ensure clarity, coherence, and engaging narratives.