The price of the cryptocurrency TON has decreased by 5%, trading at $3.43-$3.45 following the recent launch of an institutional fund. This decline reflects current market volatility.
Analysis of TON Price Change
TON's price has seen a 5% decline and is now trading at $3.45. This follows a brief 3% increase. Investor caution remains despite significant activity within the TON ecosystem.
Launch of Institutional Fund
The TON Foundation, in partnership with Kingsway Capital, announced a new fund aimed at acquiring and holding TON tokens. This initiative highlights institutional interest in expanding TON's financial presence amid shifting market conditions.
Market Activity and TON Ecosystem
Despite the recent decline, on-chain activity within the TON blockchain has increased. New wallet addresses rose by 36%, while active addresses grew by 51%. These figures indicate rising user interest, despite price volatility.
Even with the recent drop from $3.7 to $3.45, historical patterns show that TON often faces sharp price corrections following rallies. Analysts are attentive to further developments that could impact the price.
