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TON blockchain is one of the most silent and rapidly growing parts of the cryptocurrency industry. Some of its coins, like NOT coin, surged massively, securing a 400% gain in seven days, which shows that not all the action is happening on the Ethereum or Solana networks.
Due to its significant price increase, Notcoin is under the spotlight. The coin's value has increased by over 400 percent in the last seven days. Several things contribute to this rise, one of which is the growing interest of whales.
The price of #Notcoin( $NOT) has risen by more than 400% in the past 7 days.
— Lookonchain (@lookonchain) June 3, 2024
We noticed that a whale has an unrealized profit of $862K on $NOT.
He spent 50,550 $TON($278K) to buy 46.4B $wNOT before $NOT was listed.
1000 $wNOT can be exchanged for 1 $NOT.
On May 21, he… pic.twitter.com/Da29qniVzg
An unrealized profit of $862,000 from NOT coin has been secured by one such whale. In order to acquire 46.4 billion NOT before the coin was publicly listed, this specific whale made a calculated investment of 50,550 TON, or $278,000. The early investment yielded significant returns as NOT's value surged.
On May 21, the whale changed 46.4 billion of wrapped NOT (wNOT) into 46.4 million NOT. Due to the substantial profit made from holding onto this investment, it is clear that early and wise investments in newly emerging cryptocurrencies have potential. Growing interest and confidence in the TON blockchain is indicated by the NOT coins trading volume and price movement.
The recent spike in volume on the chart indicates significant buying activity, which bodes well for future price movements. The price increase is supported by the volume trends, indicating that there may be more long-term interest in the token than just a transient pump. Technically speaking, the chart displays a string of green candles that represent multiple days in a row of gains.
On the other hand, given the recent sharp increase, there may be a small retracement or period of profit-taking . Since these patterns can reveal information about the coins' future course it is important to keep a close eye on them.
The lower portion of the chart's relative strength index shows that the coin is getting close to overbought conditions, which may cause a correction.