Tancoin and Quant are two Altcoins who have witnessed an increase in whale transactions recently, something that could presage volatility for their prices.
Toncoin and Quant have seen an increase in the whale transactions count
In a new publication about X, the Santimento chain analysis firm has talked about the latest trend in the whale transactions count for two altcoins: Toncoin (ton) and quant (QNT).
This indicator measures the total number of transfers that occur in a given network that has a value of more than $ 100,000. In general, only investors or “whales” of large money are capable of making transfers so large, so it is considered that the value of the metric corresponds to the activity of this cohort.
These holders generally have a certain degree of influence on the market, so every time they are moving, the market itself could experience fluctuations. This can make it worth monitoring your activity.
Below is the Santiment shared box that shows how the whale transactions count has changed for Toncoin and quant in recent months.
As is visible in the graphic, the whale transactions count has seen a great peak for Toncoin and Quant recently, suggesting that whales have been active in the networks. Interestingly, despite being the much larger network in terms of market capitalization, Ton’s Spike has only promoted to a value of 3, while QNT has observed the metric touch 24.
That said, the small value that Toncoin has witnessed remains high compared to the past. In fact, only an increase in the last three months with this has been compared. In contrast, Quant has seen some peaks of a similar scale. Therefore, it would seem that whales tend to be less active in ton in general.
As for what the peaks could involve for the Altcoins, prices volatility may be arriving, if the past goes. “Historically, large spikes in the movements of $ 100K+ the changes in the direction of the price of omen,” explains the analysis firm.
However, these changes can occur in any direction. The whale transactions count only has the amount of movements that large entities are making and does not contain any information about the breakdown between the purchase and sale movements.
As such, it is always difficult to know if a peak in whale activity is bullish or bassist for the value of the asset. Whales that are active in Tancoin and Quant networks could only suggest that some type of acute price action can be on the horizon.
Ton price
At the time of writing, Toncoin is floating around $ 3.1, around 1.6% in the last seven days.
