#CryptoMarketWatch

The Toncoin (TON) currency has faced significant declines after reaching $5.6 two months ago, and is currently trading at $2.9, reflecting a decrease of 2.25% in the past twenty-four hours and an overall decline of 11.68% weekly and 22.53% monthly. Only 3% of coin holders are profitable, with 96% at a loss, which may encourage further selling among coin holders to prevent losses. Nevertheless, whale investors have increased their holdings from 426,300 to 603,370, indicating that they view the decline as a buying opportunity. Whales control 91% of the circulating supply and are holding it rather than selling, as evidenced by the significant drop in their outflows to exchanges. However, selling pressure in the broader market remains, as indicated by the decline of the relative strength index for Toncoin to oversold levels and the negative Chaikin money flow. The market may see a buying opportunity if sellers exhaust themselves or face further declines, which could reach $2.8 before a reversal.