U.S. authorities moved $1 billion in Bitcoin (BTC) recovered from a dark web hack to new wallet addresses on Wednesday, including one controlled by Coinbase, fueling investor concerns that strong selling pressures could cause the token’s price to drop.
Ever since the news broke out, Bitcoin’s price has tanked over 2%, bringing it under $22,000. However, according to analysts, the market’s present makeup may help Bitcoin withstand selling forces better than it did during the TerraLuna fall last spring.
However, Toncoin, which recently introduced its 2024 roadmap, and Big Eyes Coin (BIG), with its explosive presale, are making waves in the crypto market.
Ton Rises 6% in 24 Hours
Toncoin (TON) is a decentralized layer-1 token that can speed up transaction processing, reduce latency, and prevent the accumulation of unconfirmed blocks. Sharding technology used by Toncoin
TON features a multi-level structure. Sharding helps improve the scalability of the token, thus enabling it to process a large number of transactions.
The past week has seen a lot of trade in the red on the cryptocurrency market, but several coins have moved into the green over the last 24 hours. This uncommon category of rebounding coins included Toncoin (TON), whose price increased by 6%. The coin ranks 24th on CoinMarketCap with a market cap of $3 billion at the time of writing.