Citing AMBCrypto, Toncoin's decentralized exchange swaps have sharply declined, with the altcoin trading sideways since Christmas Eve. The price has retraced from a high of $6 to $5.6, raising concerns among analysts. CryptoQuant analyst Joao Wedson attributes the decline to reduced interest in swaps, with daily users on STON.fi and DeDust dropping significantly from September levels. Factors contributing to this include reduced open positions, legal uncertainties following the founder's arrest, and unfavorable market conditions post-FED rate cuts. Despite the decline, some see potential buying opportunities. However, the oversupply and increased exchange flow balance suggest potential downward pressure on prices. If current conditions persist, TON could drop to $5.2, but a shift in investor sentiment might push it to $6.1.
Toncoin Swaps Decline Amid Market Uncertainty and Legal Issues
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