#CryptoMarketWatch

The Toncoin (TON) 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% facing losses, which may encourage further selling among holders to prevent losses. Nevertheless, 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 rather than selling, as evidenced by the significant drop in their outflows to exchanges. However, selling pressure in the broader market remains, as demonstrated by 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 additional declines, potentially reaching $2.8 before a reversal.