TON price crashed 94% to $0.3 in minutes on CMC

The Open Network and its native token continue to experience various problems, some of which are not even related to the team and the project.

After last week’s outages due to high demand for GOS, today, TON price dropped by more than 90% in minutes on CoinMarketCap.

As the chart above demonstrates, TON quickly dropped from $5.2 to around $0.3 on CoinMarketCap. This meant a massive 94% dump within minutes.

However, it seems that this accident was not related to Toncoin and his team. It was an issue related to the popular crypto aggregator.

Users reported the issue to X, indicating that the price of TON quickly recovered its value against the dollar and is currently back at $5.2. Also, there are no complaints about this price dumping in any of the cryptocurrency exchanges.

However, this is another problem that has plagued Toncoin in recent weeks. We recall that the network suffered two consecutive outages last week and was offline for more than 12 hours in total.

This came after massive demand for one of the meme coins launched on the blockchain: DOGS.

In addition, Pavel Durov, Telegram’s CEO, who has been supporting the project since its inception, was arrested in France about ten days ago and reportedly faced several preliminary charges.

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