Telegram Supported Toncoin (TON) Fluctuations and Market Effects

Toncoin (TON), one of the noteworthy names in the cryptocurrency markets, has come to the fore recently due to its relationship with Telegram. However, following Pavel Durov’s speech at the TOKEN2049 event, Toncoin’s seven-week rise stopped and lost a significant amount of value Toncoin’s Market Performance After the ongoing rise for the past seven weeks, Toncoin started to lose value immediately after Durov’s speech. Especially, a large amount of TON/USDT positions were liquidated in the futures market. This value loss was not well received by the market, especially in light of the new features announced by Telegram and the innovations on the TON blockchain. This situation led to significant changes in TON’s market value and ranking. Investors and Market Reactions Durov’s statements and the subsequent market response were seen as an example of the “buy the rumor, sell the news” principle. Additionally, Tether’s operations on TON were recorded as an […]

Telegram Supported Toncoin (TON) Fluctuations and Market Effects

Toncoin (TON), one of the noteworthy names in the cryptocurrency markets, has come to the fore recently due to its relationship with Telegram. However, following Pavel Durov’s speech at the TOKEN2049 event, Toncoin’s seven-week rise stopped and lost a significant amount of value

Toncoin’s Market Performance

After the ongoing rise for the past seven weeks, Toncoin started to lose value immediately after Durov’s speech. Especially, a large amount of TON/USDT positions were liquidated in the futures market.

This value loss was not well received by the market, especially in light of the new features announced by Telegram and the innovations on the TON blockchain. This situation led to significant changes in TON’s market value and ranking.

Investors and Market Reactions

Durov’s statements and the subsequent market response were seen as an example of the “buy the rumor, sell the news” principle. Additionally, Tether’s operations on TON were recorded as an important development for the market, but this move was observed to be insufficient in supporting TON’s market value.

Useful Information

Telegram’s innovations on TON did not create the expected market response in the short term.
TON’s market ranking and value experienced significant fluctuations due to recent announcements and market reactions.
Tether’s new transactions on TON represent a very small portion of the total market value.
Market players and investors tend to react quickly to major news.

As a result, the relationship between TON and Telegram continues to significantly influence market dynamics, but investors’ quick reactions and the market’s volatile nature can unpredictably steer these effects in unexpected directions.

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