Toncoin Price Falls Despite Telegram's DeFi Integration

Toncoin's market performance has been affected by the broader crypto market downturn, with a 3.6% decline over 24 hours to $1.29. The introduction of Vaults in the TON Wallet, which enables users to earn yield on Bitcoin, Ethereum, and Tether, is seen as a positive development for DeFi enthusiasts.

The Vault feature integrates decentralized finance (DeFi) into the widely used Telegram messenger app, making it more accessible to everyday users. Users retain control of their private keys and assets while participating in decentralised earning strategies. The combination of DeFi protocols provides a seamless and user-friendly experience.

Despite the positive news, Toncoin's market reaction has been bearish, with technical indicators showing a downward momentum. The Relative Strength Index (RSI) reads 26.42, indicating deeply oversold conditions. Analysts predict a potential short-term rebound if buyers step in at key support levels, but caution is advised as the market remains under pressure.