Key Metrics Indicate Toncoin Accumulation Continues Despite Price Struggle

The recent price increase in Toncoin (TON) has sparked discussions about its longer-term performance and accumulation trends. An analysis by CryptoQuant analyst Shiven Moodley suggests that TON holders are positioning for a potential rebound, with indicators pointing towards accumulation.

Key metrics such as the 180-day Sharpe Ratio, stable TVL in lending protocols, and reduced speculative trading activity indicate that TON may be entering an accumulation phase. The decline in volatility since previous price spikes and on-chain indicators like the Normalized Risk Metric (NRM) further support this notion.

Moodley also highlighted the Risk Exposure Ratio and Probability of Spend metrics, which suggest growing leveraged activity and strong conviction among long-term holders, respectively. While short- to medium-term holders are exiting their positions, long-term holders remain consistent in their belief in TON’s potential.

If selling pressure continues to ease and risk metrics improve, TON could be poised for a more favorable market environment. Long-term investors may benefit from potential macroeconomic shifts that could ultimately boost Toncoin’s value.