Share this article
TON Slips as Selling Pressure Mounts Despite Recovery Attempts
Telegram’s token faces headwinds despite showing signs of potential support formation on the short-term.
Jun 12, 2025, 2:55 p.m.
What to know:
- Telegram's cryptocurrency, TON, experienced a 4.67% intraday decline on high volume, indicating strong selling pressure.
- The token is down 3% in the last 24 hours, with new resistance forming at $3.24.
- A recovery pattern was observed, with prices climbing from $3.19 to $3.20, representing a 0.4% gain.
Telegram’s cryptocurrency TON, is experiencing significant downward pressure on the short-term, according to CoinDesk Research's technical analysis model.
The token saw a 4.67% intraday decline to as low as $3.15 on high volume (3.65 million), though recent price action shows modest recovery attempts from the lows with new resistance forming at $3.24.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The token is down 3% in the last 24 hours. The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins — lost 3.2%.
Technical Analysis
• Critical support zone established around $3.15-$3.16, confirmed by above-average trading volume.
• The steepest price drop occurred in a 4.67% intraday decline on exceptionally high volume (3.65 million), signaling strong selling pressure.
• Resistance forming at $3.24, though the overall trend remains bearish with lower highs established throughout the period.
• Recovery pattern observed in the last hour, climbing from $3.19 to $3.20, representing a 0.4% gain.
• Sharp sell-off saw price drop to $3.18, before quickly finding support and initiating a strong upward trajectory.
• New resistance level established at $3.21, with subsequent profit-taking pushing prices back to the $3.20 range where consolidation is occurring.
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
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Crypto exchange HashKey's shares fall 5% on trading debut in Hong Kong
Investors questioned whether Hong Kong’s dominant licensed exchange can turn surging volumes and regulatory advantage into sustainable profits.
What to know:
- HashKey Holdings' shares fell about 5% in their Hong Kong trading debut, highlighting investor caution despite the company's dominant market position.
- The company reported significant losses due to its ultra-low fee strategy, which has not kept pace with operating costs.
- HashKey's growth is increasingly tied to Hong Kong's regulatory framework, affecting its market outlook.
Top Stories
