Long

Spike

Toncoin

<a href="https://bitcoinworld.co.in/toncoin-ether-surge-crypto-long-liquidations/" title="Toncoin And Ether Lead Downturn Amid Surge In Crypto Long Liquidations" rel="noopener noreferrer nofollow"></a>
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 <li style="font-weight: 400">Toncoin and Ether have decreased in value by around 4% and 5%, respectively, over the past day as the crypto market experienced over $144 million in daily long liquidations.&nbsp;</li>
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Toncoin (TON) and Ether (ETH) have led crypto majors in a general price correction, with the sector’s global market capitalization declining by 3.6% in the past 24 hours.
The technical outlook for Toncoin appears unfavorable following the recent arrest of CEO Pavel Durov in France, according to YouHodler Risk Manager Sergei Gorev.&nbsp;
Since Durov’s arrest last Saturday after stepping off his private jet at Paris’s Le Bourget airport, the Toncoin price has fallen by 20%.
“Toncoin has broken through its 200-day moving average and remains below it. In addition, a technical head and shoulders picture has appeared on the chart, in the case of the implementation of this formation of technical analysis, the price Toncoin could fall further,&nbsp; possibly to the price of $2,” Gorev told The Block.
Toncoin is officially separate from Telegram, although the firm behind the messaging app initially developed some of its underlying technology.&nbsp;
However, due to concerns about regulatory scrutiny, the project was later open-sourced. The Open Network (TON) then took over, completed the development, and released Toncoin, which has since been integrated with Telegram.
<h3 id="span-style-font-weight-400-spike-in-long-liquidations-on-centralized-exchanges-span">Spike In Long Liquidations On Centralized Exchanges</h3>
The cryptocurrency market experienced a surge in long liquidations over the past 24 hours, with 60,287 traders liquidated, according to <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="noopener noreferrer nofollow">data</a> from Coinglass. Total liquidations across centralized exchanges reached $144 million, with $127 million coming from long positions.
Ether long liquidations were as much as $46 million out of $48 million in total liquidations. Toncoin long liquidations reached $1.7 million out of $2.5 million in total liquidations over the same period.
Ethereum and Toncoin have suffered heavier losses over the past day, compared to bitcoin, falling by over 5% and 4%, respectively. In contrast, the largest digital asset by market cap has dipped by around 3%, according to The Block’s Prices Page.
Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Toncoin And Ether Lead Downturn Amid Surge In Crypto Long Liquidations

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