Descending channel on the Toncoin rate chart
Happycoin.club - The fall in the Toncoin (TON) rate, which began after the arrest of Telegram creator Pavel Durov, has resulted in losses for most cryptocurrency owners.
According to IntoTheBlock, 79.7% of people who bought Toncoin will go into the red if they sell the coins at the current price. 10.6% of them will break even and only 9.7% will make a profit. At the same time, TON investors face significant losses, as many of them purchased digital assets at a rate of $6.25 to $8.18, and now the cryptocurrency costs only $4.80.
Number of Toncoin holders who can make a profit (green), suffer a loss (red) or break even (gray)
After Durov's arrest, Toncoin rapidly fell by 23%, but the correction was followed by a new round of downward trend, and the coin has already lost 32% in price. Moreover, the bottom reached on September 4 at $4.67 turned out to be lower than the previous one.
This fact does not bode well for TON and foreshadows a continuation of the bearish trend within the emerging downward channel.
Officially, The Open Network blockchain, on which Toncoin is released, operates separately from Telegram. But the developers of this network cooperate with the messenger's specialists, because the crypto wallet built into Telegram operates on the basis of The Open Network. Therefore, the problems that Pavel encountered affect the TON market.
