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Toncoin (TON) Drops 8% as Middle East Tensions Spark Crypto Market Sell-Off
Toncoin (TON) Drops 8% as Middle East Tensions Spark Crypto Market Sell-Off
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[TRADE_PLUGIN]TONUSDT,TONUSDT[/TRADE_PLUGIN]
Toncoin TON News -
Telegram''s native cryptocurrency Toncoin (TON) experienced a sharp decline as markets reacted to escalating tensions in the Middle East. The token dropped 8.4% within 24 hours, underperforming against the broader CoinDesk 20 index''s 6.2% decrease.
Selling pressure intensified following Israel''s military strikes against Iranian targets late Thursday. TON''s price fell from $3.20 to $2.93, with trading volume surging to 7.74 million NEAR the $2.94 support level.
Despite the downturn, market activity showed resilience. A subsequent 0.3% rebound to $2.96 occurred with 284,843 units traded, establishing new support. This recovery indicates underlying demand remains strong.
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