Toncoin (TON) pulls back from its bullish momentum after Nasdaq reprimanded TON Strategy

Toncoin (TON) has pulled back from its bullish momentum after Nasdaq reprimanded TON Strategy, a major holder of TON, for failing to obtain shareholder approval before issuing stock to finance a $272.7 million purchase. The price of Toncoin has dropped, with a market cap of $5.16 billion, marking an 8.07% 24-hour decline . Additionally, trading volumes surged over 50% to 5.76 million tokens, which is nearly 1.5 times the 24-hour average. This confirms a strong selling conviction. Nasdaq’s notice does question the legitimacy of Toncoin Technical traders noted that Toncoin broke below several key support zones during the decline. Intraday...