Toncoin (TON) has a price that changes a lot, so it has long been a sign of how volatile the cryptocurrency market is. In recent weeks, however, TON’s price has been surprisingly stable, which has led to rumors of a possible rise in instability.
CryptoQuant says that TON is selling close to its all-time high right now. Compared to past quick price rises, this one has been marked by a noticeable drop in volatility.
Coingecko data shows that TON has dropped 2.4% in the last 24 hours but has gone up 4.7% in the last week. At the time of this report, it is selling at $7.83. This means that TON is almost at the $8 mark.
Ton Analyst Predictions
The “blue bars” on CryptoQuant’s chart show that the price has been steadily going up while volatility has been low. According to Toncoin’s historical pattern, this time of low volatility is usually followed by big price changes. Analysts see this calm period as a sign that big price changes are coming.
Based on the token historical trends and CryptoQuant’s recent data, analysts think that volatility will rise significantly. Some predictions say that the price of Toncoin could go up by as much as 227% by August 2, 2024.
Investors are excited about the possibility of a big price increase, but there is also a risk of a big price drop. This time of low volatility could be a recovery phase, when the market gets stronger before a big price change.
CryptoQuant tells investors to use on-chain measures, which are data points made by blockchain activity, to deal with the expected volatility. By looking at metrics like trade volume, active addresses, and transaction counts, investors can get a sense of how the market feels and maybe even guess when it will become volatile.
Even though CryptoQuant has some good points, buyers should also look at what other trustworthy analysts have to say to get a full picture. Looking at technical analysis signs and different price predictions can help you get a better sense of how the market might move in the future. You can learn more about the market forces that affect the token price by looking more closely at on-chain metrics like exchange inflows and outflows, the number of new wallets made, and the average size of a transaction.
