A relatively large liquidity provider abandoned a Toncoin (TON) pool, adding to the downward pressure on the token. TON now trades under $6 as uncertainty mounts around Pavel Durov’s address.
On-chain data showed a liquidity provider to Toncoin (TON) recently abandoned one of the token’s pools, withdrawing nearly $2M in value. The liquidity provider owned TON tokens, which can be used on DEXs and in the meme token trading ecosystem. After abandoning the liquidity pool, the whale sold 356,545 TON within the span of a few hours.
The liquidation arrived just a day after TON crashed on the news of the arrest of Telegram’s co-founder, Pavel Durov. TON traded at $5.57, after erasing nearly 18% of its price on a weekly basis. Buyers also appeared, in support of Durov and as a way to campaign for his freedom.
The Toncoin chain also bled value in the past month. The TON ecosystem was on track to lock in close to $1B in value. The slide in TON prices and some liquidity outflows diminished the TVL, down to $343.15M.
A $TON liquidity provider removed all liquidity of $TON and sold 356,545 $TON($1.98M) at $5.57 in the past 4 hours. #TONCOIN
Address:
0xaba6b18cbcd388745f6b0de936495cb90dbc80d2 pic.twitter.com/rS98WwXYOy
— Lookonchain (@lookonchain) August 26, 2024
Whale moves into more secure positions
The whale that rug-pulled a TON pool is listed as an ‘Elite Uniswap V3 LP’ by Nansen’s dashboard.
The whale’s wallet now holds $1.2M in Tether (USDT) and over $1M in Ethereum (ETH). The wallet’s TON holdings have reached a significant turnover based on its inflows and outflows.
Some of the TON sold by the wallet ended up with other whales, including dedicated Toncoin millionaires.
The liquidity removed was equivalent to that of a top 20 Toncoin pairing, which usually holds between $1M and $2M in its pools. Dexscreener data shows some meme token pools are even smaller. Overall, all DEXs on Toncoin have around $73M in daily activity, significantly smaller compared to Solana and Ethereum.
During the current market turbulence, there were some suggestions to treat TON as a meme asset and cause a short squeeze with concerted efforts. However, despite the multiple holders and Telegram users, TON remains subdued, with trading volumes of around $1B per day. Despite high daily active wallet counts, TON has not found its retail community capable of supporting the price or causing a relief rally.
Is the TON ecosystem in trouble?
In Q3, the Toncoin ecosystem and TON gained attention, mostly due to idle games and airdrop projects like Hamster Kombat.
TON even gained a limited Binance listing, as well as a staking program. However, the Toncoin ecosystem was viewed with skepticism. TON abandoned its usual stability at around $7, which meant increased risk and volatility for all meme tokens and DEX trades.
The most recent event on the Toncoin ecosystem is the release of the Dogs token, now available to move on-chain and trade.
On-Chain withdrawals are now open!
Head over to the app and claim your tokens on-chain now!
Trading will kick off on CEXs and on-chain at 12 pm UTC
Please note: we’re releasing “Claim” functionality gradually.
If you don’t have button yet, check the app in 15 minutes 🦴
— Dogs Community 🦴 (@realDogsHouse) August 26, 2024
Claims will be released gradually to eligible wallets, to avoid congestion. The Dogs project is also in the process of removing Sybill accounts with signs of point farming during the pre-launch period.
Until recently, TON also looked like a token with some form of artificial support. In the past few weeks, TON formed a dangerous chart pattern, suggesting a potential drop to a much lower range. In the short term, TON is also turning into a risky trading asset, inviting higher open interest to benefit from short positions and the increased volatility.
Since August 24, open interest expanded rapidly, rising from $220M to more than $320M. Bybit remains the most active market for TON, followed by Binance and OKX. Overall, short and long liquidations remained balanced in the last 24 hours, with a slight prevalence of long positions on Binance.
The TON ecosystem also contains a significant list of whales, with the TON Believers Fund holding the largest part of the supply at 1.3B tokens. Additionally, only 50% of the TON supply is in circulation.
From 2027 onward, TON will also deliberately increase its inflation, also adding a new inflow from ‘Idle Miners’. Currently, TON is still key for gas fees, as well as for the entire Telegram advertising economy.
The biggest problem for the asset comes from the effect of Telegram, which is known to contain various channels and groups for illegal items, as well as risky crypto activities. At the same time, Telegram aims to democratize access to crypto while opening up payment channels with native USDT tokens.
Cryptopolitan reporting by Hristina Vasileva
Toncoin (TON) may face renewed short-term turbulence as a whale liquidity provider removes TON and sells it for USDT.
Amazon’s journey from a modest online bookstore to the world’s largest online retailer is a narrative of innovation, disruption, and relentless ambition. Today, Amazon dominates the e-commerce landscape, setting the standard for online shopping with its vast product selection, lightning-fast delivery, and customer-centric approach. This article explores the evolution of Amazon’s leadership in online shopping, examining the key strategies, innovations, and challenges that have shaped its rise to the top.
The Early Days: From Bookstore to Everything Store
Amazon was founded by Jeff Bezos in 1994 as an online bookstore, capitalizing on the internet’s potential to reach a global audience. The decision to start with books was strategic; books were easy to ship, did not require much storage space, and had a universal appeal. From the beginning, Bezos envisioned Amazon as more than just a bookstore. His long-term goal was to create the “everything store,” a one-stop-shop where customers could find and purchase anything they needed online.
The initial success of Amazon was driven by its innovative approach to e-commerce. While traditional bookstores were limited by physical space, Amazon offered an extensive catalog of books that was virtually limitless. The company’s early focus on customer satisfaction, with features like customer reviews, personalized recommendations, and a user-friendly interface, set it apart from competitors.
By 1997, Amazon had gone public, and its rapid growth continued. The company began to expand its product offerings beyond books, gradually adding categories like music, electronics, and toys. This diversification was essential to Amazon’s strategy of becoming the go-to online retailer for all consumer needs. The company’s ability to offer a wide range of products, combined with its commitment to customer service, established it as a leader in online shopping.
Innovation and Expansion: The Prime Revolution
One of the most significant milestones in Amazon’s evolution was the launch of Amazon Prime in 2005. For an annual fee, Prime members received free two-day shipping on eligible purchases, a proposition that was revolutionary at the time. The introduction of Prime was a game-changer, transforming customer expectations and further solidifying Amazon’s leadership in online shopping.
Prime was more than just a shipping service; it was a strategic move to create customer loyalty. The subscription model incentivized customers to make Amazon their default shopping destination, as the more they used Prime, the more value they received. Over time, Amazon expanded the benefits of Prime to include streaming video and music, exclusive deals, and other perks, making it an indispensable service for millions of customers.
The success of Prime can be measured by its membership numbers, which have grown exponentially over the years. As of 2024, Amazon Prime has over 200 million members worldwide, a testament to the value it offers. The Prime membership model has been so successful that it has influenced the broader retail industry, with many competitors launching their own subscription services in response.
The Technology Edge: Fulfillment and Logistics
Amazon’s dominance in online shopping is not just a result of its vast product selection and customer-centric approach; it is also rooted in its technological prowess. The company has invested heavily in building a state-of-the-art fulfillment and logistics network, which has been a critical factor in its ability to offer fast, reliable delivery to customers.
Amazon’s fulfillment centers, which are strategically located around the world, are marvels of automation and efficiency. These facilities use advanced robotics, artificial intelligence, and data analytics to manage inventory, process orders, and ship products with unparalleled speed. The company’s ability to deliver products quickly and accurately is a key reason why customers choose Amazon over other online retailers.
In addition to its fulfillment centers, Amazon has developed a vast logistics network that includes its own fleet of planes, trucks, and delivery vehicles. The company’s investment in logistics has allowed it to reduce its reliance on third-party carriers like UPS and FedEx, giving it greater control over the delivery process. This vertical integration has enabled Amazon to offer services like same-day and next-day delivery, further enhancing its competitive advantage.
Moreover, Amazon’s logistics innovations extend beyond its own operations. The company’s delivery service partner (DSP) program has created opportunities for small businesses to operate delivery routes for Amazon, while its crowd-sourced delivery platform, Amazon Flex, allows individuals to deliver packages using their own vehicles. These initiatives have expanded Amazon’s delivery capacity and ensured that it can meet the growing demand for fast shipping.
Expanding the Ecosystem: Marketplace and AWS
Another key component of Amazon’s success in online shopping is its ability to create a comprehensive ecosystem that extends beyond retail. The Amazon Marketplace, launched in 2000, has been instrumental in expanding the company’s product selection and driving revenue growth. The Marketplace allows third-party sellers to list their products on Amazon’s platform, giving customers access to a wider range of goods and enabling Amazon to earn a commission on each sale.
The success of the Marketplace has been staggering. Today, over half of the products sold on Amazon are from third-party sellers, many of whom are small and medium-sized businesses. The Marketplace has also been a critical factor in Amazon’s global expansion, as it allows sellers from around the world to reach customers in different markets without the need for a physical presence.
In addition to the Marketplace, Amazon Web Services (AWS) has played a crucial role in the company’s growth and profitability. Launched in 2006, AWS offers cloud computing services to businesses, allowing them to store data, run applications, and scale their operations with ease. AWS has become the backbone of the internet, powering everything from startups to large enterprises. The revenue generated by AWS has given Amazon the financial flexibility to invest heavily in its retail operations, including its logistics network, Prime, and original content for Prime Video.
Challenges and Criticisms
While Amazon’s leadership in online shopping is undeniable, it has not been without challenges and criticisms. The company’s dominance has raised concerns about its impact on competition, with critics arguing that Amazon’s scale and market power give it an unfair advantage over smaller retailers. There have also been concerns about the treatment of workers in Amazon’s fulfillment centers, with reports of grueling conditions and low wages sparking public outcry and calls for better labor practices.
Amazon has also faced scrutiny over its impact on the environment. The company’s rapid delivery services, which require a vast logistics network, contribute to carbon emissions and environmental degradation. In response, Amazon has pledged to achieve net-zero carbon emissions by 2040 and has invested in renewable energy and electric vehicles to reduce its environmental footprint.
Despite these challenges, Amazon continues to grow and innovate, constantly pushing the boundaries of what is possible in online shopping. The company’s ability to adapt to changing consumer preferences, invest in technology, and create a seamless shopping experience has ensured its position as the leader in e-commerce.
The Future of Amazon in Online Shopping
As Amazon looks to the future, it faces both opportunities and challenges. The rise of new technologies like artificial intelligence, machine learning, and automation will continue to shape the e-commerce landscape, and Amazon is well-positioned to leverage these innovations to enhance its operations and customer experience.
The company is also likely to continue expanding its ecosystem, integrating its retail operations with other services like AWS, Prime Video, and Alexa. This integration will further entrench Amazon in the daily lives of consumers, making it even more difficult for competitors to challenge its dominance.
In conclusion, Amazon’s leadership in online shopping is the result of a relentless focus on customer satisfaction, innovation, and scale. From its early days as an online bookstore to its current status as a global e-commerce giant, Amazon has consistently pushed the boundaries of what is possible in retail. As the company continues to evolve, it will undoubtedly remain a dominant force in the world of online shopping, shaping the future of commerce for years to come.
