Artificial Growth and Likely Market Downtrend in TON

The perceived growth is an illusion, as money circulates only within the same circle. Who is purchasing gifts? It includes gambling users who now indulge via Telegram, referrers who reinvest their bonuses, market owners who buy back to simulate demand, and the TON Foundation, which injects small amounts for the sake of visibility. The conclusion is clear: there are no new funds entering the system. Total Value Locked (TVL) remains stagnant, making it a zero-sum game where early entrants profit while others face losses. The hype is artificial, as are the price increases. The recent post by Durov serves as a final trigger—prices will decline further. The question isn't if but when this decline will happen.