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The cryptocurrency market experienced a significant decline today, with a total capitalization drop of $77 billion and $1.7 billion in liquidations. $BTC fell below $115,000, $ETH tested $4,100, and XRP reached a two-month low.
Stronger US Dollar (DXY): The Dollar Index (DXY) showed a bullish reversal signal, reaching 97.65, which adds pressure to riskier assets like cryptocurrencies.
$TON recent price dip reflects technical headwinds, fading rewards-program momentum, and whale dominance. Over 68% of TON's supply is concentrated in whale wallets, which may increase vulnerability to sell-offs. Despite challenges, Toncoin (TON) has shown strong growth potential due to its connection to the Telegram Open Network (TON). Earlier in the year, in July, Toncoin saw a rally as Telegram launched its integrated TON Wallet for users in the United States, allowing for seamless crypto transfers and staking directly within the app. TON aims to become a significant layer-1 blockchain with innovative features, including a multi-blockchain architecture, smart contract functionality, and a virtual machine for DApps.