Toncoin’s price rebound was one of the few bright spots in the cryptocurrency market last week. The market was slow during the holidays, with Bitcoin and Ethereum failing to make an impression.
Toncoin appears to be making a full recovery as its price approaches $6. An anonymous expert says a recent on-chain phenomenon shows that TON’s price rally has just begun.
What happened the last time your TON storage TVL ratio was low?
Joaowedson, wrote a quick report on Toncoin pricing and staking TVL. The expert says that TON shutdowns are affecting pricing.
The analyst said investors are selling assets to trade when prices are rising. Also, the TVL metric of the TON ecosystem has been declining in recent weeks.
Joaowedson pointed out that the Toncoin price seems to have bottomed out as the TVL ratio of storage has decreased. Therefore, Toncoin price is likely to increase.
Investors usually move their deposited funds to exchanges for quick trading. Demand for the token increases, which drives up prices.
History shows that the TVL ratio of staking dropped significantly in March 2024 when the price of TON reached its highest levels. Joaowedson pointed out that as interest in staking declined, funds moved to centralized exchanges (CEX) and decentralized exchanges (DEX) like Ston.FI and Dedust, increasing their TVL.
The price is likely to rise due to demand as investors trade their assets. If so, Toncoin could bounce back to its recent highs.