$138 million TON massive transfer behind the scenes: 6 anonymous addresses transferred 148 million tokens in a short period, the intent remains a mystery

In a brief one-minute window from 22:44 to 22:45 on January 21, 2026, Beijing time, a remarkable large transfer occurred on the TON chain. According to on-chain data platform Arkham’s monitoring, six anonymous addresses transferred a total of 14,883,661.62 TON tokens, worth approximately $138 million. This is the largest single transfer event on the TON chain in recent times and has also attracted market attention to the movements of whales.

Transfer Details: Record High Scale

This transfer consists of six individual transactions, each exceeding 1.5 million TON tokens, demonstrating a high level of organization and planning.

Characteristics of the Anonymous Addresses’ Transfers

Highly Coordinated Transfer Pattern

The six anonymous addresses show clear signs of coordination. Four of the transfers are nearly identical in amount (around 1.55 million TON), a precise matching that is extremely rare in random transfers, strongly suggesting these addresses may belong to the same entity or be controlled by the same team.

Possible Motivations for the Transfers

Based on the transfer characteristics, market speculation suggests possible motives including:

• Fund Consolidation: Tokens from multiple wallets are being gathered into a single target address, possibly for fund integration or preparing for significant transactions
• Risk Diversification: Using multiple addresses to transfer may be to evade detection or spread risk
• Exchange Deposit: Preparing for large trades or withdrawals on an exchange
• Ecosystem Deployment: TON Foundation or ecosystem project parties may be reallocating funds for ecosystem development

TON Market Context

Current Market Conditions

According to the latest data, TON is priced at $1.57, up 1.22% in the past 24 hours but down 12.81% over the past 7 days. This indicates that while TON shows signs of a short-term rebound, it still faces downward pressure in the medium term.

Profit-Taking Pressure

On-chain analysis shows that TON’s 90-day MVRV ratio has risen significantly, indicating that a large portion of current holders are in profit, which could limit further upside. Market analysis suggests TON may face profit-taking pressure in the short term, with key resistance at $1.70.

Recent Whale Activity

This is not the only large transfer on the TON chain recently. Data shows that on January 20, 1,316,100 TON were transferred from Kiln to an anonymous wallet, then moved to other addresses. This frequent whale activity indicates that large holders are actively adjusting their positions and fund allocations.

Market Impact Assessment

Short-term Impact Limited

Although the transfer is large in scale, since it occurred between anonymous addresses and did not directly enter exchanges, its immediate impact on the market may be limited. However, if these funds eventually move into exchanges for selling, it could increase profit-taking pressure.

Long-term Signals to Watch

From a long-term perspective, whale transfer patterns often reflect market participants’ expectations for the future. Coordinated transfers across multiple addresses may imply that major institutions or funds are conducting fund rebalancing, which could signal a change in market dynamics.

Summary

This $138 million TON transfer event reveals several key points: first, the transfer scale is at a recent high, reflecting ongoing whale interest in TON; second, the highly coordinated transfer pattern suggests organized fund management rather than random transfers; finally, in the context of TON facing profit-taking pressure, the ultimate destination of this transfer warrants close market attention. Future observations should focus on whether these funds enter exchanges and whether TON can hold above the $1.70 resistance level.