Toncoin Falls Below $2 as Broader Market Conditions Weigh on Price

Toncoin (TON) has decreased by 5.5%, falling to $1.97, as it broke below the significant $2 threshold in the context of a broader downturn in the cryptocurrency market. This selloff was exacerbated by heavy trading volume and the liquidation of over $1.4 billion in long positions, which pushed TON through multiple support levels. The CoinDesk 20 index saw a retreat of 2.57%, with Bitcoin dropping below $102,800, a low not seen since June. Trading volumes for TON surged by 89% above daily averages as market participants reacted to the volatility. After a brief recovery towards $1.99, the price settled back down into the $1.97 range, prompting traders to closely monitor the $2 mark for potential shifts in market momentum. The pressure remains high, particularly with scrutiny directed at major holders of TON.

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