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CryptoXTimes > Article > News > Toncoin Volatility Declines, Signaling Potential Price Growth
NewsCrypto

Toncoin Volatility Declines, Signaling Potential Price Growth

Toncoin stabilizes, attracting investors and signaling potential growth.

Rubab Fatima
Last updated: October 14, 2024 2:08 pm
Rubab Fatima 8 months ago
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Toncoin Volatility Declines, Signaling Potential Price Growth

Toncoin (TON) has emerged as one of the standout success stories in the crypto market this year. Despite experiencing a meteoric price rally, TON has been grappling with a significant challenge: heightened volatility. 

While volatility is a common trait in digital currencies, CryptoQuant analyst JA Maartun has suggested that TON’s turbulence may soon calm down.

According to Maartun, Toncoin has returned to a “low-activity” phase. The analyst pointed out that the Sharpe Ratio Risk Indicator, a key metric for assessing investment risk, has entered a low-risk zone for the first time in 12 months. 

TON is Back in Low-Risk Area

“The Sharpe Ratio Risk Indicator for TON has entered a Low-Risk area for the first time in 12 months. It has been a volatile year for TON, with its price climbing from $2 to $8 over the past year” – By @JA_Maartun

Link 👇https://t.co/QqtuVa3zTr pic.twitter.com/s8AO7qGaPJ

— CryptoQuant.com (@cryptoquant_com) October 14, 2024

Toncoin Stabilizes After Surge

This shift follows a year of extreme price swings, during which TON surged from $2 to $8. As of the time of writing, the coin is trading at $5.27, stabilizing after its rapid ascent.

The lower risk associated with Toncoin could attract more conservative investors, complementing the already significant buying interest from large holders, or “whales.” Should this trend continue as predicted, TON may experience a renewed price surge, potentially pushing it toward a new all-time high (ATH).

Toncoin’s success has been largely driven by its underlying technology and the decentralized applications (dApps) within its ecosystem. One of the standout dApps is DOGS, a notable rival to popular meme coins like Shiba Inu and Dogecoin. 

High network activity and whale adoption of DOGS have added to the overall attractiveness of the TON ecosystem. Additionally, Notcoin (NOT), the first Tap-2-Earn (T2E) game on Telegram, plays a crucial role in the Toncoin community. 

As more users engage with this innovative game, it boosts TON’s visibility and market potential. With these factors in play, Toncoin appears poised for further price gains, possibly reaching a new ATH soon.

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TAGGED: Crypto, Cryptocurrencies, dApps, NOT, TON
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