Share this article
TON Surges 3%, Outperforming Declining CoinDesk 20
Telegram's native token is showing strength on lower timeframes amid broader market volatility, establishing new technical resistance levels.
Updated Jun 5, 2025, 2:56 p.m. Published Jun 5, 2025, 2:47 p.m.
What to know:
- Toncoin (TON) rallied 3%, with support holding at the $3.17-$3.18 zone.
- Trading volume for TON surged to over 6.6 million, nearly triple the 24-hour average, establishing resistance at $3.25.
- The CoinDesk 20 index fell 1.7% in the last 24 hours, contrasting with TON's performance.
Toncoin demonstrated short-term strength with a 3% rally, according to CoinDesk Research's technical analysis model. The token's price action shows resilience despite late session volatility, with support holding at the $3.17-$3.18 zone after reaching a peak of $3.25.
In contrast, the CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding memecoins, stablecoins and exchange coins — is down 1.7% in the last 24 hours.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Technical Analysis
• TON has demonstrated strength over the 24-hour period, surging from $3.16 to a peak of $3.25, representing a range of 0.095 (3%).
• Extraordinary volume exceeding 6.6 million, nearly triple the 24-hour average, established strong volume-supported resistance at $3.25.
• Bullish momentum validated by consolidation above $3.22, with multiple tests of support at the $3.17-$3.18 zone showing resilience despite late session pullback.
• Significant volatility in the past hour with a sharp 1.01% decline from $3.25 to $3.22, forming a clear resistance level before encountering heavy selling pressure.
• Temporary bottom formed at 3.215 (13:56-13:57), followed by modest recovery establishing support at 3.222, suggesting potential consolidation.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Sizin için daha fazlası
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
Bilinmesi gerekenler:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
Sizin için daha fazlası
Bitcoin rises above $89,000, showing rare gain in U.S. trading
Open interest data suggests the advance is likely short-covering, rather than fresh longs entering the market.
Bilinmesi gerekenler:
- Bitcoin was trading higher during U.S. market hours, marking a notable shift after a month in which BTC fell roughly 20 percent cumulatively while American stocks were open.
- Declining open interest suggests the move is driven by short-covering rather than fresh leveraged longs.
- Broader crypto markets remain fragile as ETF outflows, tax-related positioning, and light holiday liquidity pressure prices.
Top Stories
