In general, it is worth giving credit to those who thought through all this and calculated the steps several moves ahead.
At first everyone was involved in TON through a price pump. Every night the price of TON rose, causing FOMO in people, then Pavel Durov’s speech on token2049 was announced and FOMO arose again. But during the period of rise from $3 to $7, the project managed to “implant” many “passengers” who are now sitting with their pockets full of TON. Even several of my friends bought TON at $7. Madness.
Later, the Open League was launched, where everyone was encouraged to add token liquidity to pair with TON, distributing tens of millions of TON. People poured TVL into coins and were up to their necks in both TON and tokens.
Then USDt and incentive programs came into play, where everyone is now incentivized to sell TON (since most have all their funds in TON) and transfer to the TON/USDt pair, which also gives away millions of TON. And everyone went to sell. In addition, Telegram began giving away TON for advertising, which led to the appearance of many free TON on the market.
As a result, people have too much TON, everyone exchanges it for USDt, and the price falls. Tokens associated with TON are also falling in value. If this continues, we will see $2 per TON. From one extreme to another. That's how we live.
