Cardano’s Charles Hoskinson Suggests Swapping $100M of ADA for Bitcoin, Stablecoins
TON Slips as Selling Pressure Mounts Despite Recovery Attempts
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BTC
$107,215.56
–
2.30%
ETH
$2,750.50
–
3.96%
USDT
$1.0001
+
0.02%
XRP
$2.2424
–
3.54%
BNB
$661.98
–
1.06%
SOL
$158.35
–
5.20%
USDC
$0.9998
+
0.02%
DOGE
$0.1880
–
7.34%
TRX
$0.2745
–
5.23%
ADA
$0.6821
–
5.92%
HYPE
$42.82
–
1.46%
SUI
$3.3365
–
5.02%
LINK
$14.36
–
7.97%
AVAX
$21.07
–
6.59%
BCH
$434.00
–
2.37%
XLM
$0.2737
–
3.06%
LEO
$8.8633
–
1.89%
TON
$3.1725
–
3.64%
SHIB
$0.0₄1265
–
6.82%
WBT
$33.01
+
4.35%
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By CD Analytics, Tom Carreras|Edited by Sheldon Reback
Jun 12, 2025, 2:55 p.m.
- Telegram’s cryptocurrency, TON, experienced a 4.67% intraday decline on high volume, indicating strong selling pressure.
- The token is down 3% in the last 24 hours, with new resistance forming at $3.24.
- A recovery pattern was observed, with prices climbing from $3.19 to $3.20, representing a 0.4% gain.
Telegram’s cryptocurrency TON,
is experiencing significant downward pressure on the short-term, according to CoinDesk Research’s technical analysis model.
The token saw a 4.67% intraday decline to as low as $3.15 on high volume (3.65 million), though recent price action shows modest recovery attempts from the lows with new resistance forming at $3.24.
STORY CONTINUES BELOW
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The token is down 3% in the last 24 hours. The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins — lost 3.2%.
Technical Analysis
• Critical support zone established around $3.15-$3.16, confirmed by above-average trading volume.
• The steepest price drop occurred in a 4.67% intraday decline on exceptionally high volume (3.65 million), signaling strong selling pressure.
• Resistance forming at $3.24, though the overall trend remains bearish with lower highs established throughout the period.
• Recovery pattern observed in the last hour, climbing from $3.19 to $3.20, representing a 0.4% gain.
• Sharp sell-off saw price drop to $3.18, before quickly finding support and initiating a strong upward trajectory.
• New resistance level established at $3.21, with subsequent profit-taking pushing prices back to the $3.20 range where consolidation is occurring.
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.
