1.92 million TON whales transfer out $2.95 million, on-chain anomalies amid recent pressure on TON

A large transfer that just occurred has attracted attention. According to the latest news, at 04:04 on January 21, 2026, Beijing time, nearly 1.93 million TON tokens were transferred from wallet_v4r2 to an anonymous address, with a transfer value of approximately $2,951,200. This transaction took place amid a recent decline in TON’s price, reflecting that large holders are still adjusting their funds in the market.

Transfer Details and Scale

Basic information about the transfer

• Amount transferred out: 1,928,870.603 TON
• Transfer value: approximately $2,951,200
• Outgoing address: wallet_v4r2
• Incoming address: anonymous address (starting with 0:3A50… )
• Transfer time: January 21, 2026, 04:04

Scale assessment

Based on TON’s current circulating supply of 2,429,890,127 tokens, this transfer accounts for about 0.079% of the circulating supply. Although the amount is substantial (around $2.95 million), relative to TON’s market cap of $371 million, it is not an exceptionally large single transfer. However, the key point is that the funds are transferred to an anonymous address, which often suggests that the funds may be moving to exchanges, cold wallets, or other opaque destinations.

Recent Market Background for TON

Price trend pressure

According to the latest data, TON is currently facing significant downward pressure:

TON’s current price is $1.53, with a cumulative decline of over 14% in the past 7 days, indicating short-term pressure. In this context, large transfers by major holders are often more noteworthy—they could be risk mitigation actions or building positions.

Market position

TON ranks 27th in the cryptocurrency market cap list, with a market share of 0.12%. Compared to mainstream coins, TON’s market cap and liquidity are relatively limited, which means that large transfers may have a more sensitive impact on the market.

On-Chain Activity Observation

Recent data from Arkham monitoring shows frequent activity by large holders on the chain. Besides this TON transfer, there are other whale activities in different tokens:

• The Bhutan Sovereign Wealth Fund, Druk Holdings, linked address leveraged long ETH via Aave, with a position of about 117,000 ETH
• Early Bitcoin addresses awakening after 13 years of dormancy, transferring out 909.38 BTC
• Trend Research holding 626,700 ETH, with unrealized gains narrowing

These activities indicate that major market players are actively adjusting their positions—some long-term holders are becoming more active, and new leverage operations are emerging. This diversified on-chain activity reflects different market participant judgments about the current market conditions.

Summary

Although the transfer of 1.93 million TON tokens is relatively modest in scale, its timing and manner are noteworthy. On one hand, TON has been under significant pressure recently, with a 14% decline over 7 days; on the other hand, the movement of funds to anonymous addresses often hints at changes in fund flow. In the short term, it is important to observe whether these funds enter exchanges (which could indicate potential selling pressure) or cold wallets (possibly implying a long-term holding plan adjustment). In the current weak market sentiment, any action by on-chain large holders could serve as a signal for market trend changes.