Share this article
TON Slips 3.3% to $1.59 as Broader Crypto Market Weakens
The token is consolidating below resistance at $1.65, with support forming above $1.59, and traders are watching for a breakout above $1.70 to regain momentum.
Dec 11, 2025, 4:58 p.m.
Make us preferred on Google
What to know:
- TON dropped 3.3% to $1.596, retreating alongside the broader crypto market, despite a 20% surge in trading volume suggesting growing institutional interest.
- The token is consolidating below resistance at $1.65, with support forming above $1.59, and traders are watching for a breakout above $1.70 to regain bullish momentum.
- TON's fundamentals, including rising onchain revenue and wallet adoption, are positive, but short-term market pressure and uncertainty are currently weighing on the token's price.
dropped 3.3% over the past 24 hours to $1.596, retreating alongside the broader crypto market even as trading volume and ecosystem expansion suggest growing institutional interest.
The token climbed to $1.6929, then lost steam through the day before finding support near $1.5930, according to CoinDesk Research's technical analysis data model.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The decline came despite a 20% surge in trading volume over the seven-day average, often a sign of accumulation behind the scenes. However, price action lagged, with TON struggling to break above the $1.65 level. This volume-price mismatch may reflect patient buying from institutions rather than retail-driven momentum.
Messaging platform Telegram — which uses the TON ecosystem as the backbone of its Web3 infrastructure — has officially introduce its crypto wallet service in Uzbekistan. Following regulatory approval, residents there can now use locally issued bank cards to buy and trade crypto through Telegram, providing TON with a new foothold in Central Asia although the wallet’s launch doesn’t necessarily translated to demand for the cryptocurrency.
Technically, the outlook remains mixed. TON is consolidating below resistance at $1.65, with support forming just above $1.59. Traders are watching for a breakout above the $1.70 zone to regain bullish momentum, while failure to hold the current level could open a path toward $1.55 or lower.
For now, the token’s fundamentals, rising onchain revenue and wallet adoption, are battling against short-term market pressure and uncertainty surrounding the future direction of the crypto space as a whole.
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.
More For You
BlackRock exec says 1% crypto allocation in Asia could unlock $2 trillion in new flows
During a panel discussion at Consensus in Hong Kong, Peach pointed to massive capital pools in traditional finance as ETF adoption spreads across Asia.
What to know:
- Even a 1% crypto allocation in standard portfolios across Asia could translate into nearly $2 trillion of inflows, highlighting how modest shifts in asset allocation could transform the digital asset market, according to the head of APAC iShares at BlackRock, Nicholas Peach.
- BlackRock's iShares unit, whose U.S.-listed spot Bitcoin ETF IBIT has rapidly grown to about $53 billion in assets, is seeing strong demand from Asian investors as ETF adoption accelerates across the region.
- Regulators in markets such as Hong Kong, Japan and South Korea are moving toward broader crypto ETF offerings, but industry leaders say investor education and portfolio strategy will be critical to channeling traditional finance capital into digital assets.
Top Stories
