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Insights on Toncoin (TON) Price Predictions from CryptoQuant Analysts
Insights on Toncoin (TON) Price Predictions from CryptoQuant Analysts
Author:
Mete Demiralp
08.06.2024 – 15:02
Update:
10 seconds ago
0
CryptoQuant, a reputable cryptocurrency analysis firm, recently completed a thorough examination of the Toncoin (TON) price. The analysis delved into TON’s price volatility and its Adjusted Sharpe Ratio, offering crucial insights for traders.
The primary focus of the analysis was on the traditional Sharpe Ratio, which calculates the excess return of an investment in relation to its standard deviation, reflecting the investment’s return volatility.
According to CryptoQuant’s findings, TON’s 7-day volatility consistently surpassed its 30-day volatility over the last two and a half years, indicating that TON’s price is more responsive to sudden fluctuations in the short term compared to long-term trends.
The study also highlighted the speculative nature of the coin and the growing participation of Telegram users in DeFi and GameFi, suggesting a substantial impact on the token’s volatility at a fundamental level.
Based on the 180-day Sharpe Ratio analysis, analysts believe that TON’s price has reached a point of exhaustion, possibly signaling a bearish trend in the near future.
*Please note that this is not investment advice.
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