Crypto:
30604
Bitcoin:
$62.453
% 4.07
BTC Dominance:
%53.6
% 0.35
Market Cap:
$2.21 T
% 1.97
Fear & Greed:
33 / 100
Bitcoin:
$ 62.453
BTC Dominance:
% 53.6
Market Cap:
$2.21 T

TON Memecoins Rise: REDO, RECA, and TINU Lead Gains

Ton Memecoin

Coingecko claims that amid more general stagnation in the bitcoin market, memecoins used on The Open Network have mobilized over the past day. The top memecoins by market capitalization have climbed 35.2% over the past day to now total $172 million.

Over the past 24 hours, memecoins native to the TON network—Resistance Dog (ticker: REDO), The Resistance Cat (ticker: RECA), and Ton Inu (ticker: TINU)—have risen by 32%, 49%, and 9.5%, respectively.

By contrast, the market capitalization of cryptocurrencies has generally dropped by 0.1% to $2.54 trillion. Ether and bitcoin have both crept 0.2% lower.

With The Block’s GMCI Meme index, which comprises the top memecoins by market capitalization, large-cap memecoins have also drifted lower; their past-day drop was 2.89% to 284.96.

TON Memecoins Outperforming the Market

Designed primarily by the Durov brothers, the team behind the well-known messaging software Telegram, TON is a blockchain platform. It was developed to include blockchain and bitcoin features in the Telegram network. Toncoin, the indigenous token of the TON ecosystem, dropped 0.4% during the previous 24 hours to $7.78.

Bitfinex analysts have pointed out particular triggers for the next crypto winter. With more regulatory scrutiny and harsher rules that could lower investor trust and cause market sell-offs, Bitfinex analysts told The Block that “regulatory crackdowns are a major factor that could trigger a crypto winter.”

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The researchers also highlighted macroeconomic elements that might cause a protracted sell-off in cryptocurrencies. “A significant downturn in the global economy or major financial crises could result in a large-scale sell-off of crypto assets,” they said.

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The Bitfinex experts also pointed out that a crypto winter can be started by market saturation. “Historical patterns show that major corrections often follow initial optimistic phases after the halving; as prices reach unsustainable levels, a natural correction driven by profit-taking and market saturation is expected,” the analysts added.

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