Toncoin

The Open Network and its native token continue to experience various issues, some of which are not even related to the team and the project.
After the outages from last week due to the high demand for DOGS, today, the price of TON plummeted by more than 90% in minutes on CoinMarketCap.
<a href="https://cryptopotato.com/wp-content/uploads/2024/09/11111142.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="aligncenter size-full wp-image-357686" src="https://cryptopotato.com/wp-content/uploads/2024/09/11111142.jpg" alt="" width="1486" height="576" srcset="https://cryptopotato.com/wp-content/uploads/2024/09/11111142.jpg 1486w, https://cryptopotato.com/wp-content/uploads/2024/09/11111142-300x116.jpg 300w, https://cryptopotato.com/wp-content/uploads/2024/09/11111142-1024x397.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2024/09/11111142-768x298.jpg 768w, https://cryptopotato.com/wp-content/uploads/2024/09/11111142-50x19.jpg 50w" sizes="(max-width: 1486px) 100vw, 1486px"></a>
As the graph above demonstrates, TON slumped rapidly from $5.2 to about $0.3 on CoinMarketCap. This meant a massive 94% dump in just minutes.
However, this crash was seemingly not related to Toncoin and its team. It was an issue related to the popular crypto aggregator.
Users <a href="https://x.com/deecrypt__x/status/1830886090699354580" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">reported</a> the problem on X, indicating that TON’s price quickly regained its value against the dollar and currently shows $5.2 again. Moreover, there are no complaints about such a price dump on any of the cryptocurrency exchanges.
Nevertheless, this is yet another issue that has impacted Toncoin in recent weeks. <a href="https://cryptopotato.com/ton-events-network-faces-repeated-outages-amid-dogs-hype-update-on-durovs-arrest/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Recall</a> that the network suffered two back-to-back outages last week and it was offline for over 12 hours in total.
This came following massive demand for one of the meme coins launched on the blockchain – DOGS.
Additionally, Pavel Durov, the CEO of Telegram, which has been supporting the project since its inception, was <a href="https://cryptopotato.com/why-was-pavel-durov-arrested-details-emerge/" data-wpel-link="internal" rel="noopener noreferrer nofollow">arrested</a> in France about ten days ago and was reportedly <a href="https://ia.acs.org.au/article/2024/telegram-ceo-charged.html#:~:text=Durov%20has%20now%20been%20handed,hacking%20software%20on%20the%20app." data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">handed</a> a number of preliminary charges.
The post <a href="https://cryptopotato.com/ton-price-crashed-by-94-to-0-3-in-minutes-on-cmc/" rel="noopener noreferrer nofollow">TON Price Crashed by 94% to $0.3 in Minutes on CMC</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

TON Price Crashed by 94% to $0.3 in Minutes on CMC

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