Toncoin (TON) has experienced a significant price drop below the $5.20 level in the past week, testing the critical support floor of $5 several times. This decline is mainly attributed to the recent selling pressure affecting the broader crypto market, impacting Toncoin as well.
Despite the decline in monetary value, Toncoin's stablecoin supply is witnessing a new growth pace. Users on the Toncoin network remain optimistic about the future, hoping for the cryptocurrency to bounce back and potentially reach the $6 mark.
The growing stablecoin supply reflects ongoing interest and engagement from Toncoin users, looking forward to the cryptocurrency's continued development and potential price recovery.
