2. Token Price
Initial price and trading launch: The STON token was launched on August 24, 2020 on the Ethereum platform as a smart contract. STON is also used on the decentralized automated market maker (AMM) platform STON.fi, operating on the TON blockchain, where it was listed on August 11, 2024. The exact initial launch price of STON was not specified, but within the first hour after listing on STON.fi, the token’s price surged by 8,000%.
Current price: approximately $0.80. All-Time High (ATH): $32.65, recorded on April 12, 2024. All-Time Low (ATL): $0.6793, reached in June 2025.
2.1 Price chart over the full period
Key phases of STON’s price performance:
Early growth phase after listing (launch – April 2024): In the first months after launch, STON demonstrated exponential growth. The peak of this trend came on April 12, 2024, when the token reached its ATH of $32.65. The growth was accompanied by heightened speculative interest in the project amid general hype in the TON ecosystem and active inflows of liquidity into STON.fi pools.
Deep correction and prolonged decline (H2 2024 – June 2025): Following the ATH, the token entered a prolonged downward trend. Gradual price decreases, intensified by sell-offs from early participants and the broader crypto market downturn, led to the formation of the historical minimum (ATL of $0.6793) on June 24, 2025. The total loss in value from the peak amounted to approximately –97%.
Partial recovery and stabilization (July 2025 – present): After the June bottom, the token demonstrated a moderate rebound, gaining about +19% and consolidating in the $0.80–0.83 range. At this stage, a balance is observed between sellers (fixing losses or profits on short-term moves) and buyers (betting on fundamental recovery).
Insights from the price chart analysis:
Sensitivity to market trends: STON’s dynamics have shown strong correlation with the overall state of the cryptocurrency market.
Speculative demand dominance: Much of the price growth was driven by speculative activity rather than organic token utility.
High volatility: The –97% drawdown from ATH indicates the token’s strong exposure to speculative cycles.
Partial stabilization: The rebound in July 2025 suggests the emergence of accumulation zones, but sustainable demand remains unproven.
2.2 TVL Chart Analysis
Current TVL value: approximately $64.7 million.
Analysis of the STON.fi protocol’s TVL chart shows:
High sensitivity to phases of interest: TVL on STON.fi grew rapidly during hype periods around the TON ecosystem and subsequent developments, but also declined sharply when user activity fell.
Impact of fundamental events: TVL spikes can be directly linked to the release of new features (e.g., Omniston) as well as the general inflow of users into TON-based DeFi.
Decline in activity — a reason for close monitoring: The current TVL level ($64M) represents a significant drop from peak values. This may indicate decreasing user interest, partial outflow of liquidity, or diversification of capital within the ecosystem.
Significance for ecosystem resilience: TVL is a key indicator of trust and liquidity depth. A reduction in TVL may negatively affect both the attractiveness of the protocol and the stability of its tokenomics.
2.3 Conclusions on Token Price and TVL
Dependence on market trends: STON’s price dynamics are closely correlated with the general state of the crypto market and activity within the TON ecosystem. Periods of growth in TON-based DeFi led to sharp rallies, while global market corrections resulted in deep drawdowns.
Unlock and vesting effects: Sales from the team, investors, and the DAO treasury applied pressure on the token price at the end of lock-up periods, causing spikes in volatility and trading volume.
Reaction to ecosystem events: Announcements of new liquidity pools, integrations with Telegram Mini Apps, and partnerships triggered short-term upward moves and increased liquidity.
Resilience to deep drawdowns: Despite a –97% decline from ATH, after forming a bottom in June 2025 the price stabilized and showed a moderate rebound, indicating the potential formation of a long-term support zone.
High volatility: Medium-term price swings exceeded 30–50% over short periods, requiring investors to apply active risk management.
Gap between market capitalization and FDV: A significant portion of tokens remains in vesting (DAO treasury, team, investors), which implies continuing potential price pressure as these tokens enter circulation.
TVL contraction: Current TVL is about $64.7M, a notable decline from peaks, reflecting reduced liquidity depth and possibly lower user engagement. This makes the development of sustainable token utility and new demand drivers critical.
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