Toncoin (TON) Investors Sitting On 54% Profit Despite Price Plunge

Share This Post

On-chain data shows the Toncoin investors are holding a significant amount of unrealized profit even after the recent bearish action in the asset’s price.

Toncoin Is Still Trading A Notable Distance Above Its Realized Price

In a new post on X, the on-chain analytics firm Glassnode has discussed about the latest trend in a few indicators related to Toncoin. The first metric of relevance is the “Realized Price,” which tells us, in short, the cost basis of the average investor on the TON network.

When the spot price of the cryptocurrency is trading above this indicator, it means the holders as a whole can be assumed to be carrying a net amount of unrealized profit. On the other hand, it being under the metric implies the dominance of loss in the market.

Now, here is the chart shared by the analytics firm, that shows the trend in the Toncoin Realized Price over the last few years:

Bitcoin Realized Price

As displayed in the above graph, the Toncoin price has been above the Realized Price for a while now, which means the investors on the whole have been enjoying gains. This arrangement hasn’t changed even after the drawdown that the coin has witnessed recently.

Historically, the Realized Price has acted as a support level for the asset. The reason behind this is the fact that investors can be likely to react to dips to their cost basis by buying more, if the mood in the market is bullish.

At present, the metric has a value of $2.43, which is significantly under the spot price. Based on the historical pattern, Glassnode notes that the level “remains a crucial level for potential buying pressure.”

The next indicator shared by the analytics firm is the Market Value to Realized Value (MVRV) Ratio. This metric keeps track of the ratio between the spot price and Realized Price of Toncoin.

Toncoin MVRV

From the chart, it’s apparent that the ratio has gone down recently and has reached a value of around 1.54. “This means that, on average, investors are sitting at ~54% unrealized profit,” explains Glassnode.

While the overall market has been able to withstand the recent downturn, it doesn’t mean that there has been no panic loss selling at all for Toncoin. As the below chart for the Realized Loss shows, the buyers who got in during the top ended up realizing a massive amount of loss in the price plunge.

Toncoin Realized Loss

TON Price

At the time of writing, Toncoin is trading around $3.77, up almost 3% in the last 24 hours.

Toncoin Price Chart

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Robert Kiyosaki: Market Collapse Has Begun—Bitcoin’s Comeback Will Be Massive

Robert Kiyosaki warns of an impending economic crash, predicting bitcoin will recover faster than any asset He urges investors to abandon fiat currency and embrace BTC, gold, and silver Robert

Bitcoin On-Chain Metric Resets To 1.01 — Here’s Why It Could Spark A Rally

Following a brief ascent above $99,000 on Friday, the Bitcoin market experienced a negative end to the past trading week as prices crashed below $96,000 in a sharp descent Based on these happenings,

SEC’s Ripple Appeal Is Next to Fall, Former SEC Official Declares

The SEC’s crypto enforcement program is unraveling, with legal retreats and restructuring A former SEC official predicts the Ripple appeal is next to be abandoned SEC’s Ripple Fight

Bitcoin Price Suppression Below $100,000 Worries Investors, JPMorgan Analysts Reveal Real Problem

Bitcoin’s price rally may be under threat as it continues to trade under $100,000 According to analysts at JPMorgan, there’s been a notable decline in institutional interest in the crypto

From Reagan to Covid: The Factors Behind America’s $36.51 Trillion Debt

A perennial inquiry among financial circles—from bitcoin enthusiasts to gold stalwarts—centers on the US national debt’s vertiginous climb to $3651 trillion by Feb 22, 2025 Contrary to the

Ethereum Price Could Still Reclaim $4,000 Based On This Bullish Divergence

The Ethereum price appeared to be finally gearing for a strong bullish breakout after multiple weeks of disappointing and sluggish action However, this bullish dream ended almost immediately after it