The crypto market is currently in a downtrend, with prices swinging lower due to significant selling pressure. Ethereum and Toncoin are among the cryptocurrencies experiencing notable declines.

Ethereum: Falling Below $2,500
Ethereum, the second-largest cryptocurrency, recently fell below $2,500, down over 5% in the last seven days amid the market downturn. Despite the volatility, Ethereum's fundamentals remain strong, bolstered by the launch of the ETH ETF and the growing Ethereum L2 ecosystem. A recovery above $2,600 is anticipated soon, potentially setting the stage for a rally past $3,000 by the end of Q3.

Toncoin: Dropping Below $5.5
Toncoin has also seen significant declines, dropping from $6.8 to $5.3 after Telegram CEO Pavel Durov's arrest in France, which triggered a sell-off. While some investors are moving to other assets, the current Toncoin price may present a buying opportunity. With selling pressure decreasing and investor confidence gradually returning, a bullish reversal for Toncoin is expected in the near future.