A Giant Whale Has Started a Massive Short Position in This Altcoin

A notable transaction in the cryptocurrency market has come to light with the opening of a large short position in the TON market. According to on-chain data, a newly created wallet withdrew 8 million USDC from Binance, transferred it to the Hyperliquid platform, and then began aggressively shorting Toncoin (TON).

It was stated that the investor in question has so far opened a short position of approximately 1.54 million tons, worth approximately $3.8 million, and that an additional sell order of 7 million tons has been placed. The total value of these additional positions is said to be approximately $18.2 million. Given the transaction size, it is speculated that the investor expects a decline in the price of ton, and it is assessed that this position could increase short-term volatility in the market.

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This development coincides with statements made by Telegram founder Pavel Durov regarding the technical performance of the TON blockchain. Durov stated that, according to a comparison conducted in April 2026, TON leads among Layer-1 networks in terms of transaction finalization time.

According to the shared data, the irreversible finalization time for a transaction on the TON network is approximately 0.6 seconds. When the verification of the shardchain block is included, the total time is less than 1 second. Durov stated that the comparison was made among the top 30 Layer-1 blockchain networks listed on CoinMarketCap, and that transaction-only private chains like Hyperliquid and Layer-2 solutions were not included in the evaluation.

*This is not investment advice.

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