Trading volume for TON has seen a dramatic reduction, falling from over $1 billion during the post-election rally to approximately $100 million at present. This decrease in trading activity coincides with a broader market trend that has affected numerous cryptocurrencies.
Data from blockchain analytics platforms shows that TON’s daily active addresses have reached their lowest point this year, despite new capital continuing to flow into the wider cryptocurrency market. This decline in network activity has raised questions about current investor sentiment.
The cryptocurrency’s technical indicators present a mixed picture. The Relative Strength Index (RSI) has dropped to what analysts term an ‘extreme’ low, while the NMR metric suggests the asset may be undervalued. Historical data indicates that similar NMR readings have often preceded price recoveries.
Current market data reveals that only 4% of TON holders remain in profit at the current price level. This statistic highlights the extent of the recent price decline and suggests that many investors who bought during higher price periods are currently holding unrealized losses.
The upcoming implementation of new Telegram regulations regarding blockchain mini-apps represents a major milestone for the TON ecosystem. Starting February 21, 2025, these applications will be required to use TON exclusively as their blockchain platform, potentially increasing network usage and utility.
To support this transition, the TON team has introduced a Migration Grant program. This initiative offers developers up to $50,000 in AD Credits to assist in moving their applications from other blockchain networks to the TON platform. The program aims to reduce barriers to entry for developers interested in building on TON.
TVM Ventures has demonstrated its commitment to the ecosystem’s growth by announcing a $100 million fund dedicated to supporting developers building decentralized finance (DeFi) projects on the TON network. This investment represents a substantial push to expand the platform’s capabilities and attract new projects.
The gaming sector has shown interest in TON’s infrastructure, with AKEDO Games recently securing funding from a group of investors led by Karatage. This development suggests growing diversity in the types of applications being built on the network.
Market analysts note that TON needs to maintain a price above $2 to avoid putting $13.30 billion worth of tokens at risk of potential liquidation. The $4.50 price level has emerged as a crucial threshold, with experts suggesting that consistent closes above this point could indicate the start of a new upward price movement.
The broader cryptocurrency market context shows Bitcoin trading near $96,177, with its price action continuing to influence alternative cryptocurrencies including TON. The total market capitalization for alternative cryptocurrencies (excluding Bitcoin) faces pressure near the $1 trillion mark.
The TON ecosystem has faced several challenges in recent months, including the reported arrest of Telegram founder Pavel Durov in France last year. Despite these obstacles, development activity has continued, with a focus on creating scalable DeFi projects.
Trading data indicates that large holders, often referred to as “whales,” have not been accumulating TON aggressively during the recent price correction. This behavior contrasts with historical patterns seen during previous market downturns.
The network’s technical fundamentals remain intact, with ongoing development work focused on enhancing the platform’s DeFi capabilities and integration with Telegram’s messenger service.
The current price of $3.80 places TON below the key support level of $4.50, which had held since May 2024 until earlier this month.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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