Ethereum News Today: Whales Target Altcoin Dips as TON and Ethereum L2 Tokens Draw Strategic Buying

Whales are actively buying dips in the altcoin market, with several promising projects showing potential for growth. The cryptocurrency market remains volatile, but analysts and investors are identifying specific tokens that could benefit from current trends. One such token is TON, the native asset of The Open Network (TON), which continues to attract attention despite a 42.79% decline from its all-time high of $8.23. Meanwhile, Ethereum’s Layer 2 (L2) tokens are also drawing interest, particularly in light of broader optimism surrounding Ethereum's ongoing upgrades.

According to recent data from Coinbase, the price of TON stands at $3.12, with a market capitalization of $8.02B and a fully diluted valuation of $16.05B. The circulating supply of TON is 2.6 billion, significantly lower than its maximum supply of 5.1 billion. Despite the dip, the token remains a key player in the blockchain ecosystem, offering a decentralized infrastructure that supports a wide array of services, including dApps, storage, and fast transactions. The TON network operates using a proof-of-stake (PoS) consensus mechanism, enabling scalability and efficient validation of transactions through a sharding model.

The broader altcoin market has seen a mix of bearish and bullish signals, with TON's dominance at 0.22% of the total crypto market cap. The token’s 24-hour trading volume is $196.21M, while the 7-day trading volume stands at $1.01B. This suggests that while the token is not currently leading in market share, it continues to attract steady trading activity. The price has declined by 2.75% in the last 24 hours and 4.97% over the past week, but analysts remain cautious, noting that the market’s fundamentals remain strong.

A surprising entry in the current altcoin buying frenzy is an Ethereum L2 token, which, although unnamed in the available data, appears to be gaining traction among investors. Ethereum's Layer 2 solutions are increasingly seen as critical to the scalability and cost-efficiency of the Ethereum network, especially with the success of upgrades like the London hard fork and the ongoing development of Ethereum 2.0. As a result, investors are closely watching L2 tokens for potential breakout moments, particularly if Ethereum's adoption continues to rise.

In parallel, Clearpool (CPOOL) has been the subject of several speculative price predictions, with some forecasts suggesting the token could experience a 24.8% drop over the next month. While the immediate outlook is bearish, the long-term predictions for Clearpool are more optimistic, with potential gains reaching up to 336.73% by 2030. These forecasts are based on technical indicators and market trends, but they remain speculative and should not be interpreted as investment advice. The Fear & Greed Index currently stands at 51, indicating a neutral sentiment, with a slight tilt toward bullish activity.

Despite the varied outlooks, the current market environment suggests that whales are taking advantage of dips to accumulate assets, particularly in high-potential altcoins like TON and Ethereum L2 tokens. Investors are advised to remain cautious and conduct thorough due diligence before making any investment decisions, as the market can be highly unpredictable.

Source: [1] Toncoin Price, TON Price, Live Charts, and Marketcap (https://www.coinbase.com/price/toncoin) [2] Clearpool (CPOOL) Price Prediction 2025, 2026-2030 (https://coincodex.com/crypto/clearpool/price-prediction/)