A new whale wallet has opened a large short position on Toncoin ($TON), according to on-chain data. The wallet withdrew 8 million USDC from Binance, moved it to Hyperliquid, and began shorting TON aggressively.
So far, the whale has opened a short position of roughly 1.54 million TON, worth about $3.8 million. An additional sell order for 7 million TON has also been placed. That extra position is valued at around $18.2 million. Given the size, it seems the investor expects TON’s price to fall. This could increase short-term volatility in the market.
Telegram Founder’s Remarks on TON
The shorting activity comes as Telegram founder Pavel Durov commented on TON’s technical performance. According to Durov, a comparison done in April 2026 showed TON leads among Layer-1 networks in transaction finalization time.
Durov shared that the irreversible finalization time for a TON transaction is about 0.6 seconds. Including shardchain block verification, total time is under 1 second. The comparison examined the top 30 Layer-1 networks on CoinMarketCap. Private transaction chains like Hyperliquid and Layer-2 solutions were excluded.
This is not investment advice. Whether the short position proves profitable or not remains to be seen, but it certainly adds a layer of uncertainty around TON’s near-term price action.
