CryptoQuant expert predicted a decline in TON cryptocurrency quotes
CryptoQuant researcher Shiven Moodley analyzed the price volatility of the TON cryptocurrency and the adjusted Sharpe ratio. The expert believes that the value of the coin may fall in the near future. He noted that he had discovered trends towards speculation in this digital asset. The specialist emphasized that the traditional Sharpe ratio calculates the excess return on an investment by dividing it by the standard deviation. This reflects what is known as return volatility.
The analyst emphasized that when comparing the adjusted Sharpe ratio analysis with volatility, it becomes apparent that the 7-day value for TON has consistently exceeded its 30-day performance over the last 2.5 years. According to the expert, this indicates that the price of a digital asset is more susceptible to sudden fluctuations in the short term compared to long-term activity.
“Furthermore, speculative use of the coin and the growing number of Telegram users participating in the DeFi and GameFi sectors indicate a significant impact of volatility on TON at a fundamental level. Traders may refer to the adjusted Sharpe ratio for potential indicators of "price fatigue" or perceived higher return relative to risk," the analyst noted.
According to data as of June 7, 2024, the cost of the TON cryptocurrency is at $7.38. This value has increased by 219.35% since the beginning of this year, while adding 15.3% in the last week alone. The market capitalization of the virtual asset is $17.92 billion. It is in 9th place in the ranking of the best cryptocurrencies in the world.
Ton/USDT 7.44.81
