Toncoin (TON) survives glitch displaying a 94% price crash | Amznusa.com

The Toncoin (TON) community on Telegram noted a glitch that caused an inaccurate price display. At one point, the TON token showed a 94% loss, sparking fears of a rug pull. 

A faulty API from Russian sources caused CoinMarketCap to display the wrong price for Toncoin (TON). The glitch only took a few minutes. However, it caused panic that Toncoin had been exploited or rug pulled. TON remained down even after the pricing data returned to normal, trading at $5.16.

For a short period, TON displayed a price of $0.30, though the data did not come from Binance or other trading services. The TON project team revealed all DEX, aggregators and related services were working normally.

The Telegram chat cleared up the situation, stating that the error was on the side of CoinMarketCap. Yet the effect on TON was tied to recent doubts about the project, as investors and users wait to see how the platform will respond to the latest disturbance in normal service. 

TON once again sank below TRON in the market cap rankings even though it still holds the $5 support level. The token seems to have absorbed most of the negative news since the arrest of Pavel Durov, avoiding a deeper crash.

The asset has been sliding for the past few weeks, and trades near a one-month low. The trading glitch comes on the tail of two episodes where the Toncoin network stalled and stopped producing blocks for a few hours.

After the recent network outage, Toncoin returned to regular block production. The network even managed to carry the extra transactions related to the DOGS token airdrop. Toncoin logged more than 1.1M active daily users during the days of the DOGS airdrop, although some services had longer waiting times to receive the token. 

From September 12, the Toncoin ecosystem will also begin its newest airdrop season. The Open League season 6 will offer several tiers of airdrops, with the goal of onboarding new users and retaining their loyalty.

All users must mint a badge and choose their risk tier, which will determine the activities available for earning airdrops. The two tracks include ‘normie’ and ‘degen’ tasks, with both requiring some engagement with the Toncoin NFT and DeFi ecosystem. 

The open season will coincide with the Hamster Kombat campaign, potentially further increasing on-chain users. The last open airdrop season drew in more than 2M additional active wallets on Toncoin, raising activity as high as 700K active daily users.

TON surpasses 1B transactions

Toncoin recovered its block production on August 28, then continued to produce blocks every 3 seconds. The Toncoin chain also broke the milestone of one billion transactions, achieved at more than 81 transactions per second. 

The Toncoin chain uses fast coordination between wallets to achieve its end state, but interactions with token contracts may cause a slowdown. 

The next expansion source for Toncoin will be Hamster Kombat, which is now the widest-reaching Telegram channel. The Hamster Kombat announcement channel connects to more than 52M users, of which many have tried the challenges to farm airdrop points. 

Hamster Kombat may become another stress test for the ecosystem. The game has not yet given a date for its token generation event, but Bitget has already planned the new asset’s listing. Based on Bitget’s timeline, the HK token may be available in some form by September 26. 

Toncoin prepares for $2.5M project fund

The recent rough patch for Toncoin has not stopped the project from expanding and even offering support for new projects. 

The TON Ventures team announced it will set aside $2.5M for a total of five projects building on Toncoin. TON Ventures is a new organization split from the TON Foundation, and equipped with a $40M fund for ecosystem investments. 

The new program for $2.5M will be known as TON Accelerator and will focus directly on product builders. The applications are open to all projects through a dedicated portal. Toncoin’s ecosystem got a boost from tap-to-earn games and mini apps, and TON Ventures aims to repeat that success with a new inflow of user-friendly apps. 

Despite the wide reach, the Toncoin ecosystem suffers from an outflow in value, mostly due to the slide in TON prices. The value locked on Toncoin was getting close to $1B before the arrest of co-founder Pavel Durov. Since then, the slide of TON took the value locked down to $348M

Cryptopolitan reporting by Hristina Vasileva

 Toncoin (TON) seemingly crashed by 94%, due to a glitch related to price displays. The actual price of TON did not change or affect DeFi or other protocols. 

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.