TON rose from $1.35 on May 4th to $2.90 in three days, a 114% increase.


Durov took over the narrative of the TON Foundation, instantly filling in all the leverage, causing the contract open interest (OI) to soar to around $600 million, hitting a 3-year high, with RSI once spiking to 93.
On May 8th, a single-day liquidation of $28.7 million occurred, with longs at $13.1 million and shorts at $15.6 million — not one-sided liquidation, but a double-sided wipeout.
The current price is $2.36, down 18.6% from the peak, with RSI still at 77 in the overbought zone.
It’s not Durov pushing the coin up, it’s leverage pushing the coin up.
The day the narrative was exhausted, what was left behind wasn’t faith, but positions.
Mihua菌 passing by. #Gate广场五月交易分享 $TON $NOT $BTC
TON-1.11%
NOT-3.83%
BTC-1.31%
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