#CryptoMarketWatch

The Toncoin (TON) currency 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 last 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 more selling among coin holders to prevent losses. Nonetheless, whale investors have increased their holdings from 426.3 thousand to 603.37 thousand, indicating they see the decline as a buying opportunity. Whales control 91% of the circulating supply and are holding onto it rather than selling, as evidenced by the significant drop in their flows to exchanges. However, broader market selling pressure remains, as seen from the decline in the relative strength index of Toncoin to oversold levels and 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.