TON's price movement today has been influenced by broader market trends, particularly the impact of rising Treasury yields on risk assets. As yields spiked, cryptocurrencies, including TON, faced downward pressure. This environment has led to a general decline in the crypto market, with Bitcoin and other major cryptocurrencies experiencing significant drops. The CoinDesk 20 index, which tracks the performance of the largest cryptocurrencies, fell more than 5%, reflecting the challenging conditions for digital assets.
Additionally, the legal developments surrounding Coinbase and the SEC have added to the uncertainty in the crypto market. A federal judge's decision to pause the SEC's lawsuit against Coinbase until an appeals court can weigh in has created a mixed sentiment among investors. While this ruling is seen as a temporary win for Coinbase, it underscores the ongoing regulatory challenges facing the crypto industry, which can contribute to market volatility.
TON's price has decreased by 1.57% today, with the current price at $5.233601. The cryptocurrency reached a high of $5.353555 and a low of $5.230137 during the day.