Tron continues to see increased whale activity, with one prominent whale completing over 1 million transactions. On-chain data reveals that whale dominance in Tron has reached 68.41%, a significant jump from 56% in January 2024.

Over the course of the year, whales have expanded their share of the total supply by 16%, now controlling nearly two-thirds of Tron’s circulating supply. In contrast, individual investors’ holdings have dropped

Since November 2024, whale activity has surged noticeably, with their dominance rising by more than 10% in just 45 days. This increase has sparked speculation about whether whales are preparing for a new bull run or if this is merely part of a typical bull cycle. While the answer remains unclear, historical data suggests that bull cycles often culminate in a “distribution stage,” where early investors (often whales) sell their holdings at high prices to new investors driven by FOMO.

Currently, on-chain metrics indicate that Tron whales are in an accumulation phase, not distribution. This suggests that whales are strategically positioning themselves, potentially in anticipation of a future market rally.

Meanwhile, $TON DEX activity has taken a hit due to heightened volatility, with the token’s price fluctuating between $7.20 and $5.20. Liquidity pools are shrinking, and the number of swaps has declined, signaling that users are pulling back amid the instability.

For now, Tron’s whale accumulation and the pullback in $TON activity reflect contrasting market dynamics. Whether these trends signal the start of a bull run or are part of routine cycles remains to be seen, but all eyes are on on-chain metrics for clues.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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