Toncoin (TON) has had a tough week, with holders suffering $36.77 million in losses due to net outflows over the past seven days. Major holders, representing 96% of the addresses, bore the brunt of these losses.
The price of TON recently dropped below the support of $2.40 to $2.39, but recovered within 48 hours to $2.66 – an increase of 4.77% in the last 24 hours, according to CoinMarketCap. However, the trading volume remains concerning, with a decrease of 36.78% to $187.17 million, indicating hesitation among investors.
The community is worried, especially considering TON’s history of explosive growth. In May 2024, TON climbed to the top 10 of digital assets worldwide, with a market capitalization of over $20 billion, surpassing Cardano (ADA) for the ninth spot. Analysts linked this rise to mass adoption, driven by Telegram’s nearly one billion monthly users. But that glory seems to have faded: TON is now in 21st place, and the hype has largely subsided.
Expectations were high at the beginning of 2025. TON entered a low-risk zone with bullish technical signals, but the price action of $5.67 did not hold. The volatility this year has not been able to restore investor interest, and the recent drop underscores the challenges. The recorded losses and the sharp drop in trading volume raise questions about the resilience of the ecosystem. Market observers are now watching to see if TON can reverse this downward trend.
Despite the recovery to $2.66, the situation remains fragile. The dependence on major holders and the declining activity suggest that a strong comeback is not a given. Can Toncoin regain its old shine, or will it continue to struggle to restore confidence? The coming weeks will be crucial.
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