Toncoin Price Drops to Nearly $3.50 Amid Market Crash
Toncoin (#TON) Update
Toncoin has dropped to around $3.50 amid a broader market decline, with demand for the token decreasing. The risk of falling below the psychological support level of $3 is increasing.
The Open Network Slowdown
- Active addresses decreased from 1.0244 million in December 2024 to 293.10K.
- Daily transactions fell from 8.02 million to 874K.
- Significant decline in network activity raises concerns about adoption.
Investors Divided with TVL at $433M
- Holders experienced negative returns: 44% loss over 3 months and 35% over 6 months.
- 1-year returns down to 69%, compared to 462% peak in July 2024.
- Total Value Locked (TVL) stands at $433.02 million, with liquid staking at nearly $250 million.
Toncoin Price Crash
- Toncoin hit a low of $3.32 during a near 10% drop but recovered to $3.58 after a 4% rise.
- Marked four consecutive negative weeks, falling 57% from its all-time high of $8.28.
Toncoin’s Future
While user base and transaction numbers are declining, the TVL remains stable. A recovery in Toncoin's price will depend on broader market conditions. Key resistance levels are at $4.30 and $5.14; support levels are at $3 and $2.50.