Over the past 1,6 hours, Toncoin has fallen by 6%, and over the past week, by XNUMX%. At the time of writing, kriptovalyuta traded at $3,52, down nearly 57% from its peak of $8,27 in June 2024.
Toncoin's price decline began after the founder Telegram Pavel Durov was arrested in France. The fall accelerated against the backdrop of the fact that most of the tokens launched in the TON blockchain did not meet the expectations of market participants. Thus, token Hamster Kombat has fallen more than 80% from its all-time high, while other assets such as Tapswap, Notcoin, Catizen, and DOGS have also seen significant price declines.
The number of active wallets in the TON blockchain is also decreasing. TonStat data shows that over the past month this figure has dropped to 4 million. For comparison, in August 2024, there were 12 million active wallets on the network.
The total value of assets locked in the TON ecosystem has dropped to $172 million. Over the past 30 days, the network's transaction volume has been only $629 million, compared to the Base blockchain, which has processed $40 billion in transactions.
Technical analysis shows that Toncoin is likely to continue to fall. The token’s daily chart recently formed a bearish “death cross” pattern, with the 50-day and 200-day exponential moving averages crossing each other. Fibonacci retracement levels, relative strength indicators, and MACD also point to a potential decline.
