The price of Toncoin (TON) has been experiencing a steep decline due to concerns about its ecosystem and network growth. The token has dropped to a crucial support level of $2.90, down 65% from its highest level in 2024. Weak on-chain and ecosystem metrics have contributed to the downturn, with most tokens in the Toncoin ecosystem falling more than 80% from their all-time highs. The TON Blockchain has also been struggling, with a significant decrease in daily transactions and monthly active wallets. The total value locked in the TON Blockchain has declined, and the weekly volume of transactions has become smaller compared to other chains. The price of Toncoin is expected to continue declining, with sellers targeting a psychological level of $2.00.



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