Toncoin (TON) has seen a decline in interest for swaps on its decentralized exchanges, potentially impacting its price. Key highlights:
- The number of swaps on TON DEX has sharply declined, with average daily users dropping to 13,300 and 5,250 on (link unavailable) and DeDust, respectively.
- The decline is attributed to reduced open positions, uncertainty over legal issues, and unfavorable market conditions.
- Investors are shifting interest from decentralized trading to staking, which could provide a strategic opportunity.
- The decline in interest for swaps reflects reduced buying pressure and increased uncertainty, leading to oversupply and reduced scarcity.
- TON's stock-to-flow ratio has dropped, and supply on exchanges has spiked, indicating potential selling pressure and downward price pressure.
If conditions persist, TON could drop to $5.2. However, if investors view the decline as a buying opportunity, the altcoin could break out to $6.1. 3 replies
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