Home Altcoins News Toncoin Faces Sell-Off as 240K TON Moves to Exchanges

Toncoin Faces Sell-Off as 240K TON Moves to Exchanges

Toncoin price

The Toncoin (TON) market has been facing increased volatility in recent months, especially following the arrest of Pavel Durov in August 2024. The event led to a mass sell-off, with investors parting ways with over 890,000 TON tokens. More recently, a large transfer of 240,000 TON tokens to exchanges in the past week has further escalated concerns about the coin’s future trajectory.

The Impact of Pavel Durov’s Arrest on Toncoin

The arrest of Pavel Durov, a key figure behind the TON project, triggered a sharp drop in the price of Toncoin and a significant outflow of tokens. Following this event, the market saw a decline in investor confidence, and the increased selling pressure pushed Toncoin’s price down. Over 890,000 TON were sold, marking a pivotal moment in the coin’s market history.

Recent Shift: 240K TON Moved to Exchanges

Adding to the uncertainty, a recent transfer of 240,000 TON tokens to exchanges has fueled more speculation. This massive move indicates that investors may be positioning themselves to sell in the short term, raising concerns about further price declines. With more TON tokens entering the market, liquidity increases, but this also intensifies the selling pressure on Toncoin.

However, while this may signal a bearish outlook, it also presents an opportunity for those watching for a potential reversal. The sell-off could lead to an eventual buying opportunity if the market begins to stabilize and recover.

Signs of a Reversal?

Despite the ongoing volatility, there are some positive indicators emerging for Toncoin. The Open Interest (OI) Delta signal, which tracks the level of derivative contracts, is showing an uptick in volatility, accompanied by rising open interest. Historically, these signs have preceded a price surge for Toncoin, suggesting that there may be a chance for a bullish reversal soon.

In late January 2025, the OI Delta increased significantly, pointing to a potential market shift. This rising OI could be a signal that traders are becoming more confident in the possibility of a price rebound. If this trend continues, the next few weeks could be crucial for Toncoin’s market outlook.

Support Levels and Market Indicators

The current price of Toncoin is approaching a critical support zone at around $4.80, a level that has historically seen strong rebounds. Toncoin has tested this support area multiple times, each time showing resilience and triggering a price recovery. This suggests that the support zone could play a vital role in Toncoin’s price action in the near future.

The Moving Average Convergence Divergence (MACD) indicator is also showing convergence, hinting at a potential shift in momentum towards the upside. This technical pattern, coupled with Toncoin’s repeated resilience at the $4.80 support level, may indicate that a price bounce is on the horizon.

Network Growth Signals Bullish Potential

Another encouraging factor is the increase in the number of unique addresses interacting with the Toncoin network. From October 2024 to January 2025, Toncoin’s address count surged by over 32%, reaching 139 million unique addresses. This rise in network activity suggests growing interest and participation in the TON ecosystem, which could translate into stronger market confidence and potential upward price momentum.

Conclusion: Should Traders Be Worried?

The recent sell-off and transfer of 240,000 TON tokens to exchanges have certainly raised red flags for investors. However, the increasing Open Interest and the strong support level at $4.80 offer hope for a potential price reversal. Toncoin’s growing network activity and the positive MACD indicator further suggest that the cryptocurrency may be poised for a rebound.

While the short-term outlook remains volatile, the long-term market dynamics indicate that investors could see opportunities if they carefully monitor these key levels and signals. Traders will need to stay vigilant to gauge whether Toncoin can sustain its current support and potentially set the stage for a recovery.

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Sakamoto Nashi

Nashi Sakamoto, a dedicated crypto journalist from the Virgin Islands, brings expert analysis and insight into the ever-evolving world of cryptocurrencies and blockchain technology. Appreciate the work? Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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