Is Toncoin the Titanic of Cryptos? 🛳️

by

So, Toncoin (TON) had a little victory parade recently, rebounding 3.5% over the last 24 hours on the crypto market. But here’s the kicker: about 96% of the wallets holding Toncoin are still grieving over their financial decisions. I mean, what happened to the good old days when crypto was supposed to make everyone filthy rich and intolerable at parties? IntoTheBlock data proudly confirms that 96% of holders are “out of money,” which is a polite way of saying they’ve got an investment that belongs in a giant dumpster fire. 🔥

A Symphony of Sadness: TON Price Action 🎹

Picture this: $36.77 million in losses, neatly packed up and delivered over just seven days like a particularly awful Amazon package. And the big wallets—those guys with piles of crypto—make up roughly 96% of all the addresses. If you’re small fry, congratulations! You’re at least not driving the Titanic straight into the iceberg. The coin even danced dangerously close to the $2.40 support level, briefly flirting with $2.39 before “heroically” clawing its way back to $2.66. But let’s not pop champagne just yet; the trading volume is down 36.78%, which is a classy way of saying people would rather buy NFTs of weird cat drawings than TON right now.

If you’re part of the TON community, you likely recognize these figures as the stuff crypto nightmares are made of. Funny, though, since TON used to wear its past success like an obnoxiously big gold chain. Those were the days—TON went from quiet sophomore to prom king with meteoric growth that rivaled my brother’s obsession with fantasy baseball stats.

The Million-Dollar Question: What’s Next for TON? 🤔

Remember May 2024? TON had its BeyoncĂ© moment, strutting into the world’s top 10 digital assets lineup with a market cap that said, “Look at me, peasants.” It even flipped Cardano, because, why not? Much of this was thanks to the fact that Telegram—TON’s fairy godmother—has a billion active monthly users. What could possibly go wrong? I guess everything.

Fast forward, TON’s hype now has the energy of an overcooked chicken. It couldn’t even keep its $5.67 groove going, nor throw any parties higher than that. Currently resting at rank 21 (ouch), it’s like watching a has-been celebrity play bit parts in bad reality TV shows. Volatility has been more the rule than the exception, making most investors look elsewhere, perhaps at cryptos with personalities less reminiscent of tragic novels.

Of course, analysts have their speculations, eagerly predicting whether TON can pull off a comeback, or whether it’s doomed to wander aimlessly in crypto limbo. You’ve got to admire the optimism—it’s kind of like betting on a horse named “Glue Factory” to win the Kentucky Derby.

Read More

2025-03-12 19:08