Singapore’s ousted crypto firms may not find shelter elsewhere
TON Surges 3%, Outperforming Declining CoinDesk 20
- News In 4 Seconds
CD Analytics
- 0
- 26 minutes read
BTC
$104,445.03
–
0.52%
ETH
$2,583.40
–
1.81%
USDT
$1.0001
–
0.00%
XRP
$2.2034
–
1.93%
BNB
$659.24
–
1.30%
SOL
$150.83
–
3.69%
USDC
$0.9996
+
0.01%
DOGE
$0.1895
–
1.47%
TRX
$0.2735
+
0.12%
ADA
$0.6740
–
1.90%
HYPE
$34.77
–
5.19%
SUI
$3.1492
–
1.90%
LINK
$13.66
–
3.22%
LEO
$9.1449
+
3.53%
AVAX
$20.01
–
4.44%
XLM
$0.2662
–
1.85%
BCH
$401.33
–
1.00%
TON
$3.2158
+
1.81%
SHIB
$0.0₄1281
–
1.29%
HBAR
$0.1669
–
1.90%
Share this article
Updated Jun 5, 2025, 2:48 p.m. Published Jun 5, 2025, 2:47 p.m.
- The cryptocurrency TON rallied 3%, with support holding at the $3.17-$3.18 zone.
- Trading volume for TON surged to over 6.6 million, nearly triple the 24-hour average, establishing resistance at $3.25.
- The CoinDesk 20 index fell 1.7% in the last 24 hours, contrasting with TON’s performance.
The cryptocurrency TON has demonstrated short-term strength with a 3% rally, according to CoinDesk Research’s technical analysis model. The token’s price action shows resilience despite late session volatility, with support holding at the $3.17-$3.18 zone after reaching a peak of $3.25.
Meanwhile, the CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding memecoins, stablecoins and exchange coins — is down 1.7% in the last 24 hours.
STORY CONTINUES BELOW
Don’t miss another story.Subscribe to the Crypto Daybook Americas Newsletter today.See all newslettersBy signing up, you will receive emails about CoinDesk products and you agree to ourterms of useandprivacy policy.
Technical Analysis
• TON has demonstrated remarkable strength over the 24-hour period, surging from $3.16 to a peak of $3.25, representing a range of 0.095 (3%).
• Extraordinary volume exceeding 6.6 million, nearly triple the 24-hour average, established strong volume-supported resistance at $3.25.
• Bullish momentum validated by consolidation above $3.22, with multiple tests of support at the $3.17-$3.18 zone showing resilience despite late session pullback.
• Significant volatility in the past hour with a sharp 1.01% decline from $3.25 to $3.22, forming a clear resistance level before encountering heavy selling pressure.
• Temporary bottom formed at 3.215 (13:56-13:57), followed by modest recovery establishing support at 3.222, suggesting potential consolidation.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
Tom writes about markets, bitcoin mining and crypto adoption in Latin America. He has a bachelor’s degree in English literature from McGill University, and can usually be found in Costa Rica. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
