If TON fails to reclaim the $4.7 support level, a 45% crash can be witnessed.
TON was replaced by Cardano (ADA) as the 10th largest cryptocurrency.
Two wallets, possibly related, bought a massive $2.2 million worth of AAVE.
Read also: Telegramâs Troubles Weigh on Toncoin and the TON Blockchain
Toncoin (TON), the native token of The Open Network, has slipped from its 10th position in the crypto market, overtaken by Cardano (ADA). Meanwhile, whales have been accumulating Aave (AAVE), driving the altcoinâs price higher.
According to the data from CoinMarketCap, Toncoin was the worst performer in the top 15 digital assets, down 3% in the past 24 hours. The altcoin is trading at $4.60 and its market cap currently stands at $11.65 billion. It has also declined nearly 18% over the past week.
Crypto analyst Ali Martinez warned on X (formerly Twitter) that if TON doesnât reclaim the $4.70 level as support soon, a significant crash of up to 45% is possible.
#Toncoin needs to reclaim the $4.70 support level soon. If $TON fails to do so, a 45% correction down to $2.60 could be likely. pic.twitter.com/Jv0V47sXjQ
â Ali (@ali_charts) September 4, 2024
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