Toncoin’s Price on Edge: Rising Exchange Supply Sparks Concerns

Toncoin (TON) faces a critical moment as it trades within a descending channel, signaling potential volatility. The price is $2.66, with a recent 4.18% increase in the last 24 hours. Market conditions suggest a breakout could send it toward $6 or push it down to $1.50.

Supply on Exchanges Raises Concerns

Toncoin has been forming a descending channel, characterized by lower highs and lower lows, indicating a bearish trend. The upper trendline acts as resistance, while the lower trendline serves as support, shaping the current trading pattern. A breakout in either direction could set the tone for TON’s next move.

If TON surpasses the $3 resistance level, it could target $3.80–$4 based on historical price movements. A stronger bullish push beyond $4 may extend gains toward $6, provided volume and RSI confirm the rally. Conversely, if TON falls below the $2.50 support, the downside could extend toward $1.50–$1.80.

A notable increase in Toncoin supply on exchanges suggests potential selling pressure in the market. Analyst Ali Martinez reported that 140,000 TON have been moved to exchanges in the past week. Historically, rising exchange inflows indicate that investors might be preparing to sell their holdings.

Source: X

Charts tracking inflows highlight the possibility of profit-taking or anticipation of further declines. If selling pressure intensifies, TON could struggle to maintain support at $2.50, increasing the risk of a breakdown. A decline below this level could confirm the bearish case, pushing prices toward the lower range of $1.50–$1.80.

Traders are closely watching for signs of reversal or sustained selling activity. If buyers step in to absorb the selling pressure, TON could attempt a recovery. Otherwise, the increased supply could drive further price weakness in the short term.

Toncoin Blockchain Activity Remains Strong

Despite price volatility, Toncoin’s blockchain ecosystem continues to expand with consistent user and developer engagement. Over 3.1 million new wallets were activated between January and February, with daily active wallets ranging between 170,000 and 590,000. The network also recorded weekly transactions between 20 million and 30 million, ranking it among the top eight blockchains.

Monthly trading volumes remained strong, fluctuating between $500 million and $700 million. Developer activity also showed significant growth, with a 40% increase in monthly active contributors, reaching 906 individuals. This steady blockchain growth highlights continued adoption despite market fluctuations.

Toncoin Foundation recently appointed Manuel “Manny” Stotz as its new president to drive expansion efforts in the United States. Stotz, who has been on the foundation’s board since 2023, brings experience from Kingsway Capital. His leadership is expected to guide Toncoin’s next phase of growth and market penetration.