Toncoin (TON) demonstrated resilience amidst a market downturn, recovering after a brief downtime, while most major tokens, especially in the AI sector, faced significant losses.
Despite a roughly five-hour downtime attributed to the DOGS airdrop, Toncoin managed to limit its losses to less than 1%, outperforming the CoinDesk 20's drop of over 6.5%.
The market turmoil resulted in over $300 million in crypto futures liquidations—the highest since early August—prompting a long squeeze and a significant decline in open interest.
As BTC plunged 6% and other major tokens followed suit, the overall sentiment in the market weakened, evidenced by a decrease in open interest on bitcoin futures.
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