Today, September 4, 2024, the TON-based cryptocurrency ecosystem is in deep red. The most attractive assets are lagging behind the market benchmark. Two of the five worst performers in the top 100 include TON cryptocurrencies.
Toncoin (TON), Notcoin (NOT) Among the Worst Cryptocurrencies
Notcoin (NOT), the first popular cryptocurrency of the TON ecosystem, is currently the worst performer in the ranking of the 100 largest cryptocurrencies by market capitalization.
Notcoin (NOT) lost 6.4%, which can only be compared to the losses of Cosmos (ATOM). Overall, the cryptocurrency market capitalization has decreased by 2% today.
Toncoin (TON), the key cryptocurrency of the TON blockchain, fell 5.7%, its third-worst result to date. The cryptocurrency market capitalization fell below $11.8 billion.
Dogs (DOGS), the largest airdrop on TON to date, fell 3.4% and is approaching a drop below the $500 million market cap mark.
As U.Today previously reported, Dogs (DOGS) has failed to stop falling after airdop issues. It has lost a third of its value over the past seven days.
Additionally, on September 2, 2024, a DOGS trader recorded a massive $2.72 million long liquidation, which is quite painful for the small-cap altcoin segment.
The Resistance Dog (REDO) remains a lonely green spot
Meanwhile, Resistance Dog (REDO) is the only major TON-based cryptocurrency whose price has increased in the last 24 hours.
The price of REDO has grown by 22%, the token capitalization has again exceeded the equivalent of 35 million dollars.
The REDO token, launched in early August 2024, saw a huge influx of liquidity following the arrest of Pavel Durov in Paris; the price of REDO increased by 300% in almost no time.
The crisis in the TON ecosystem can most likely be explained by the uncertainty of Pavel Durov’s legal status and the unstable operation of the TON mainnet under high traffic. Also, yesterday’s “instant collapse” of the TON price indication due to API problems caused panic in the market.
