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Today, Sept. 4, 2024, the ecosystem of $TON-based cryptocurrencies is in deep red. The most attractive assets are underperforming compared to the market's benchmark. Two out of five worst performers in the top 100 include $TON's cryptos.
Toncoin ($TON), Notcoin ($NOT) amid worst performing cryptos
Notcoin ($NOT), the first mainstream cryptocurrency of the $TON ecosystem, is the absolute worst performer today in the ranking of the top 100 cryptos by market capitalization.
Notcoin ($NOT) lost 6.4%, which can only be compared to Cosmos (ATOM) losses. In general, cryptocurrency market capitalization is down by 2% today.
Toncoin ($TON), a key cryptocurrency of the $TON blockchain, is down by 5.7%, which is the third worst result today. The cryptocurrency market cap dips below $11.8 billion.
Dogs (DOGS), the largest airdrop on $TON so far, is down by 3.4% and is getting closer to plunging below the $500 million capitalization mark.
As covered by U.Today previously, Dogs (DOGS) failed to stop plunging after issues with the airdop. In the last seven days, it lost one-third of its value.
Also, on Sept. 2, 2024, a DOGS trader registered a whopping $2.72 million long liquidation, which is very painful in the segment of small-cap altcoins.
Resistance Dog (REDO) remains lone green spot
Meanwhile, Resistance Dog (REDO) is the only major $TON-based cryptocurrency that managed to see its price increased in last 24 hours.
REDO price is up by 22%; the token's capitalization is back above $35 million in equivalent.
Launched in early August 2024, REDO token witnessed a huge liquidity inflow after Pavel Durov's arrest in Paris; REDO price added 300% in almost no time.
The crisis in the $TON ecosystem can most likely be attributed to the uncertainty in the legal status of Pavel Durov and the unstable performance of $TON mainnet during high traffic. Also, yesterday's "flash crash" of the $TON price indication due to problems with API caused market panic.
crypto.news
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