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Toncoin (TON) and SUI have delivered notable returns to holders this month, standing out as breakout stars. However, both projects now face rising market volatility as many investors continue to book profits after buying these tokens at dips. Let’s analyze the market performance of Toncoin (TON) and SUI and see what analysts predict about their trajectories.
Toncoin (TON) continues to display notable bearish pressures, primarily due to two fundamental reasons. The first is the lower number of daily transactions on the blockchain, indicating lower network activity. The second is the negative funding rate for Toncoin (TON), resulting in a price pullback after crossing the $7 threshold this week.
Additionally, the sentiment around the broader altcoin sector due to sluggish BTC momentum is adding to the slowing momentum of Toncoin (TON). With a 3.8% decline on the intraday chart, Toncoin (TON) price continues to rally back to the monthly low of $5.2. Technicals signal a mixed trend for crypto, with a decisive rally yet to be seen in the future.
SUI crypto has lost significant value after crossing the $1 landmark on August 12. The crypto hit a bearish wall and recorded double-digit declines. With its Grayscale’s trust hype cooling off, SUI displays a 10.3% decline in the last 24 hours, with bulls pushing hard to defend the crucial $0.8 support level amid surging volatility.
The recent announcement by SUI about its Bridge incentive program has been unable to halt the price downtrend. If the $0.8 support level does hold, experts anticipate a potential rally to $1. However, technical analysis and market conditions suggest more price correction for SUI before gaining a solid base for the price to display a breakout above critical thresholds.
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While Toncoin (TON) and SUI have shown strong potential in this market cycle, the heightened volatility has initiated a price downtrend to lower support levels. Amid the choppy market, investors now eye DTX Exchange (DTX) as a promising alternative.
With the potential to disrupt the DeFi space with advanced technologies, DTX Exchange offers early investors a chance to capitalize on profits. For those looking to diversify and mitigate the risks of a volatile market, DTX Exchange could be their big bet for 10x gains.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
