Toncoin jumps near $1.30 as whale buying fuels breakout hopes

• Toncoin whales have accumulated over 189,700 TON in three months.
• Heavy accumulation comes as TON activates the Catchain 2.0 upgrade.
• ​TON price rose to intraday highs of $1.32, could eye $1.89-$2.40 next.

Toncoin (TON), the cryptocurrency token of the Telegram-supported TON Blockchain, is trading higher on the day amid signs of renewed investor interest.

On Friday, the Toncoin price hovered at $1.30 as large holders, or “whales,” scooped up more tokens. The accumulation comes amid a tentative broader market recovery.

​Toncoin price tests $1.30 zone amid whale accumulation

Toncoin’s price has climbed 4% in the past 24 hours, hovering near the critical $1.30 resistance zone.

The token reached an intraday high of $1.32 during the Asian trading session.

Buyers helped push trading volume up, with the metric spiking 104% as of writing to $160 million, marking a 45% increase from the previous day’s average.

This uptick arrives as Bitcoin holds above $71,000 amid bets on a new leg to $80,000.

Notably, TON’s momentum aligns with this backdrop, particular...