TON fell 7% while selling off tied to Musk’s Telegram dispute, Xai cooperation continues

Toncoin

Get a sharp diving in the last 24 hours, falling over 7% from $ 3.319 to just a low under the $ 3 mark after chaos around a rumored Telegram collaboration with Elon Musk’s Xai reversal.

Plunge is the continuation of one who started shortly after the Telegram CEO Pavev Durov Hunted in a partnership with XaiElon Musk’s artificial intelligence company.

Haka -haka pushed the ton price Deal is not yet signed. Ton has dropped 17% since.

Markets appear to be pricing the collapse of what could be a major integration involving 700 million Telegram users after a while, almost reverse all the gained tons.

Despite the uprising, Durov quickly replied that the deal was “in principle,” and the “formality was pending.” TON is the native token of the open network, which is highly associated with Durov messaging.

Ton’s bases remain motion. The Telegram is still ahead of ton-based payments, which offers users a way to send messages such as crypto.

That exposure, while long-term, positions TON as one of the few projects with potential access to a major user base.

Price levels between $ 3.00 and $ 3.22 are key now to watch. A breakdown or breakout from that range can signal to the next move, especially since the on-chain data shows significant purse concentration around $ 3.24, of which nearly 740 million tokens are held at 1.21 million addresses, According to In Crypto analyst Ali Martinez.

Telegram has this week Raised $ 1.7 billion by convertible bonds. The firm plans to use $ 955 million to buy existing bonds, and gasoline growing up to the remaining $ 745 million.

Breakdown of technical examination

• Ton saw a sharp sale-off, with a volume of more than 10.6 million in a single hour, almost traveling to its average volume.
• Consumers enter the $ 3.00 mark, helping token climbing back to $ 3.086, forming a V-shaped recovery.
• A brief resistance generated at $ 3.22, while the bullish momentum pushed the token above $ 3.08 during a severe surge
• The perpetual futures open interest rose by 33% to $ 190 million, reaching the highest point since February, indicating entrepreneurs were cycling for further volatility.