It's completely the project team acting as market makers. Originally, there wasn't much to it. Durov sells ton for fiat to withdraw star, but in reality, it's all about the selling pressure on ton. The project team is still pushing staking at a price of $7, and there's no narrative or action on the entire chain. The above is the endpoint for Binance.
ton's several sins:
1. At a price of $7, they aggressively promoted staking, but the team exited staking, causing a massive sell-off that brought the price down to $2.
2. Durov sells ton for fiat, but it can only be withdrawn and sold on fragment.
3. Fragment, as an on-chain platform, requires KYC to buy and sell assets like 888 numbers and usernames.
4. The mandatory switch to ton for web3 mini-programs has damaged developer confidence, leading well-known projects on Telegram to leave, causing ton to collapse as well.
$TON garbage
I hope Sister Yi can punish $TON together with $GPS and @Yi He .
