Toncoin Volume Falls 18% as $49M Token Unlock Raises Sell-Off Risks

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Toncoin is entering a sensitive phase as weaker market activity meets a large token release. The TON price has stayed under pressure in recent sessions, while trading volume has also moved lower. 

The latest weakness comes ahead of a major unlock set for April 23. The release is valued at about $49.37 million and includes nearly 36.58 million TON. That equals around 1.47% of the circulating supply, based on the data provided.

TON Price Faces Pressure Despite Network Upgrade

The tokens will go to the Ton Believer Fund. The fund rewards long-term participants and early supporters. In normal conditions, such a release can support ecosystem alignment. In the current setting, though, the timing has added pressure to the TON price.

Toncoin’s market slowdown comes after a major network upgrade. The upgrade improved chain performance in a clear way. It increased throughput by ten times and raised block production speed by six times.

Those gains strengthened the network’s technical base. Yet the market has not responded with steady buying interest. Instead, the TON price has kept drifting lower as traders focus on soft demand and incoming supply.

Network Upgrade Improves Chain Performance

The recent upgrade stands out as a positive step for the project. It shows that development on the network is still moving forward. Faster throughput and quicker block production can improve user experience and support future growth.

Still, technical progress does not always bring an instant market rebound. Traders often react more to liquidity, momentum, and supply conditions in the short term. That appears to be the case now, as the TON price remains weak despite stronger network performance.

Token Unlock Raises Supply Concerns

The token unlock is now one of the main short-term issues for Toncoin. About $49.37 million worth of TON is set to enter circulation. That is a large amount to absorb during a period of low market strength.

The Ton Believer Fund is expected to receive the tokens. Its role is to reward committed backers and early users. Even so, traders are watching the event closely. The reason is simple. Fresh supply can add pressure when market demand is already fading.

Volume Drop Shows Weak Demand

Trading volume has also pointed to weaker interest. Over the past 24 hours, volume fell 18% to about $108 million at press time. That decline reflects lower activity across both buyers and sellers.

Lower volume often means a thinner market. In such conditions, it becomes harder to absorb new tokens without added volatility. This matters now because the unlock is approaching fast. If volume stays weak, the TON price may struggle to find support.

Technical Signals Turn Bearish

Momentum indicators are also leaning negative. The data provided shows a death cross formation on the MACD. In that setup, the MACD line crosses below the signal line. Traders often read this as a sign of sustained downside momentum.

The Parabolic SAR has also issued a sell signal. Dots are forming above price action, which usually points to an active downtrend. Together, these signals suggest bearish control is building. That keeps the TON price in a fragile technical position.

Distribution Trend Adds More Pressure

Chart structure adds another risk factor. Toncoin is reversing from a diagonal resistance trendline. That move mirrors a previous fractal from around February 14, when a similar rejection led to strong distribution and a sharp drop.

Recent data also shows that more than 93.4 million TON has already been distributed during the current move. That figure supports the view that sell-side activity remains elevated. It also shows that the market is facing pressure from more than one direction at the same time.

Key Support Zone Comes Into Focus

In the near term, traders are watching a key demand zone marked by horizontal support levels. This area may give buyers a chance to step in. If that happens, Toncoin could enter a consolidation phase instead of extending the decline.

That said, the risk of a breakdown remains. If bearish conditions continue and support fails, Toncoin could return to its February 2026 lows. That is why the TON price is now approaching a critical test.

Market Sentiment Stays Fragile

Sentiment around Toncoin remains weak. The market has not shown strong conviction from either side. Buyers have not stepped in with force, while sellers still hold the near-term edge.

This fragile mood matters because sentiment often shapes price action around major supply events. If confidence does not improve soon, the TON price may stay under pressure even after the unlock is complete.

Conclusion

Toncoin is facing a difficult short-term setup. A large token unlock is nearing, trading volume is falling, and technical indicators are turning bearish. At the same time, distribution activity remains high and demand looks weak.

The recent network upgrade improved the chain’s performance, but that progress has not yet changed market behavior. For now, traders appear more focused on liquidity and supply than on development gains.

Appendix Glossary of Key Terms

Token unlock: The scheduled release of locked TON into circulation

Circulating supply: The amount of TON currently available in the open market

Ton Believer Fund: A reward fund for long-term supporters and early participants

Network upgrade: A blockchain improvement designed to increase speed and efficiency

Throughput: The number of transactions a blockchain can process in a given time

Block production speed: The rate at which new blocks are created on the network

Frequently Asked Questions About TON Price

1- What is affecting Toncoin right now?

Toncoin is facing pressure from lower trading volume, weak demand, bearish indicators, and a large token unlock.

2- How big is the coming unlock?

The unlock is valued at about $49.37 million and includes around 36.58 million TON.

3- Who receives the unlocked TON?

The tokens will go to the Ton Believer Fund, which rewards long-term participants and early supporters.

4- Did the network upgrade help Toncoin?

Yes. It improved throughput by ten times and block production speed by six times.

Reference

AMBCrypto