Toncoin’s (TON) price has had a disappointing run throughout July, which seems to be continuing into August.

Toncoin’s price decline has seemingly pushed investors to the brink of shedding their optimism for pessimism once again. This is evident in TON’s negative funding rate, which indicates that investors are predominantly taking short positions. This trend suggests that many are betting on a continued decline in the asset’s value.

The negative funding rate reflects a bearish sentiment among traders, who expect further downward movement in the market. This could prove fatal for investors who buy at the current relatively low prices

The Market Value to Realized Value (MVRV) ratio also presents buy opportunities. The MVRV ratio assesses investor profit and loss. Currently, Toncoin’s 30-day MVRV stands at -11%, indicating losses and possible buying pressure.

Historically, TON tends to correct when the MVRV is between -5% and -15%, which usually signals the start of recoveries and rallies and marks it as an accumulation opportunity zone

This would result in a slip below $6.04, with TON marking a three-month low. The potential decline could send Toncoin’s price down to $5.49

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