Over the past 24 hours, memecoins native to the TON network—Resistance Dog (ticker: REDO), The Resistance Cat (ticker: RECA), and Ton Inu (ticker: TINU)—have risen by 32%, 49%, and 9.5%, respectively.

By contrast, the market capitalization of cryptocurrencies has generally dropped by 0.1% to $2.54 trillion. Ether and bitcoin have both crept 0.2% lower.

With The Block’s GMCI Meme index, which comprises the top memecoins by market capitalization, large-cap memecoins have also drifted lower; their past-day drop was 2.89% to 284.96.

TON Memecoins Outperforming the Market

Designed primarily by the Durov brothers, the team behind the well-known messaging software Telegram, TON is a blockchain platform. It was developed to include blockchain and bitcoin features in the Telegram network. Toncoin, the indigenous token of the TON ecosystem, dropped 0.4% during the previous 24 hours to $7.78.

Bitfinex analysts have pointed out particular triggers for the next crypto winter. With more regulatory scrutiny and harsher rules that could lower investor trust and cause market sell-offs, Bitfinex analysts told The Block that “regulatory crackdowns are a major factor that could trigger a crypto winter.”

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The researchers also highlighted macroeconomic elements that might cause a protracted sell-off in cryptocurrencies. “A significant downturn in the global economy or major financial crises could result in a large-scale sell-off of crypto assets,” they said.

The Bitfinex experts also pointed out that a crypto winter can be started by market saturation. “Historical patterns show that major corrections often follow initial optimistic phases after the halving; as prices reach unsustainable levels, a natural correction driven by profit-taking and market saturation is expected,” the analysts added.

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