During the U.S. trading session on Wednesday, the cryptocurrency market exhibited a bearish trend, with Bitcoin nearing a significant price drop of $60k. Toncoin, like many other major cryptocurrencies, experienced downward pressure, resulting in a 1.5% intraday loss as it approached a critical $5 support level.
Despite this negative momentum, the potential for a reversal is highlighted by the observation that the stablecoin supply on the TON blockchain has surged by 13 times. This significant increase indicates growing interest and activity within the network, which could support a price recovery.
Market watchers are closely monitoring whether this bearish trend will stabilize, allowing Toncoin to rebound and potentially reach a $6 price point. The surge in stablecoin supply is seen as a positive indicator that could fuel Toncoin's comeback.
