- Toncoin whales are selling, igniting a bearish outlook for TON.
- The TON Ecosystem remains optimistic, with price forecasts as high as $19.
Toncoin (TON), the native digital asset of the Telegram-associated ecosystem, has been facing a downtrend for the past six months. This decline comes as altcoins shed a substantial part of their gains into the Bitcoin market.
Whale Investors’ Impact on Toncoin
Toncoin has remained trapped in a correction mode against the U.S. dollar since early 2024. Thus, the short-term outlook for the TON price remains bearish unless it sees a sudden rebound.
Notably, the Toncoin ecosystem has seen reduced cash inflows from whale investors since August 2024. Crypto analyst Ali Martinez spotlighted data from Santiment, indicating increased selling pressure from large TON investors.
The data shows investors between 10 and 10,000 TON have sold over 890,000 TON coins since mid-2024. These offloads follow the arrest of Telegram’s founder, Pavel Durov, in France, adding more pressure on Toncoin’s price. This has raised questions about its long-term potential.
Additionally, the TON network’s Decentralized Finance (DeFi) sector has struggled to gain traction. In an X post, TON Ventures partner Inal Kardan noted that the ecosystem has not accelerated as anticipated. Still, Kardan remains optimistic that memecoins of the TON network may experience an increase in demand in the near term.
Toncoin, known for its scalable infrastructure, continues to be a top competitor among altcoins with 10x potential. Over the last 24 hours, market data shows the altcoin has seen a surge in activity, with a 28% spike in trading volume.
The cryptocurrency trades at $4.8, a modest 2.29% gain, and its market cap is $11.97 billion. Per market watchers, many are optimistic this mild rally can start a more expanded growth phase for the coin.
The Bright Side of the TON Ecosystem
The TON ecosystem has gradually grown into a vibrant DeFi hub with nearly 1 billion monthly active users. According to DefiLlama data, the total value locked on the TON ecosystem has soared to about $272 million, with the stablecoins market cap reaching $1.4 billion.
The TON core developers recently released a detailed roadmap for the first half of 2025 to stir up the DeFi growth prospect. Also, anticipations surrounding the Accelerator kernel update on the mainnet have raised optimistic sentiments within the community.
Moreover, the TON core developers are keen to enable a scalable DeFi ecosystem and support a secure bridge to the Bitcoin ecosystem.
These positive developments within the ecosystem are anticipated to help bolster TON’s current uptrend. As highlighted in our previous article, Toncoin could test new price levels, with early 2025 forecasts ranging from $9 to $13. Some long-term estimates even forecast TON reaching $19.65.
In a recent update CNF covered, crypto analyst Alan Santana said TON is entering a new phase in 2025. Accordingly, the analyst claims TON is ending the bearish patterns observed in previous years.
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