CandleFocus Crypto Analyst Says Large-Cap Ethereum Rival at Risk of Massive Sell-Off – Here’s Why
2024-09-26
Author: Content Editor
A popular crypto analyst suggests that Toncoin (TON), a rival of Ethereum, may face a significant sell-off in the coming weeks. This prediction follows an announcement by messaging platform Telegram that it will provide user data to governments in certain circumstances. Telegram initially developed TON in 2018 but had a legal battle with the SEC and parted ways in 2020. TON can still be sent within Telegram without entering long wallet addresses. The analyst believes that the removal of Telegram's key feature could contribute to a sell-off of TON. The analyst also compares TON's chart to another blockchain called Celestia, which experienced a significant drop in value. TON is currently trading at $5.70 and has seen a 1.5% increase in the past 24 hours.
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