Toncoin Rallies as Staking TVL Ratio Hits New Lows: Bullish Signs for TON?
Toncoin price recovery accelerates toward the $6 mark despite a declining staking TVL ratio, signaling a shift in investor behavior that could fuel further price growth.
The Toncoin (TON) price has emerged as a bright spot in the otherwise sluggish cryptocurrency market during the festive period. While major assets like Bitcoin and Ethereum struggled to gain momentum, Toncoin’s value has steadily climbed, now nearing the $6 mark.
A recent analysis by a pseudonymous CryptoQuant analyst, Joaowedson, suggests that the Toncoin rally may be just beginning, with an intriguing correlation between the staking TVL ratio and price movements hinting at further upward potential.
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Staking TVL Ratio and Toncoin Price Dynamics
Joaowedson highlighted a trend where declines in the staking TVL ratio—representing the amount of Toncoin locked in staking—coincide with bullish price action. As staking interest wanes, investors often withdraw funds to pursue trading opportunities.
This withdrawal movement increases liquidity, allowing for more trading activity, which, in turn, drives up demand and prices. The analyst explained:
“When investors withdraw funds from staking, they often transfer them to exchanges for quick trades. This movement increases demand for the token, driving prices higher.”
A similar scenario played out in March 2024 when a significant drop in the staking TVL ratio was followed by Toncoin soaring to new highs. During that time, liquidity migrated to centralized exchanges (CEX) and decentralized exchanges (DEX) like Ston.FI and Dedust, boosting TVL in those categories and driving price growth.
Bullish Indicators for Toncoin
The current decline in Toncoin’s staking TVL ratio aligns with what analysts see as a price bottom, suggesting a favorable setup for further gains. Investors appear more inclined to unlock their assets for trading, increasing the likelihood of sustained upward momentum.
Historically, reduced interest in staking has coincided with periods of significant price increases due to greater liquidity and heightened trading activity.
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Toncoin Market Overview
As of writing, Toncoin is trading at $5.78, reflecting a slight 0.5% decline over the past 24 hours. However, its weekly performance remains strong, with a 6% gain, according to CoinGecko data.
The altcoin’s recovery is in stark contrast to broader market conditions, indicating that Toncoin’s price action may diverge from larger assets like Bitcoin and Ethereum. If historical patterns hold, the token could soon reclaim its recent highs.
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