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TON’s Staking Patterns Echo March 2024’s Rally – Higher Highs Coming?
The cryptocurrency market has been exhibiting unprecedented trends lately, and it appears that Toncoin (TON) is no exception. Recent observations have revealed a striking similarity between the current staking patterns of TON and those seen in March 2024.
For those who may not be aware, March saw a significant price rally for TON, with the cryptocurrency’s value more than doubling from $3 to $6. This surge was accompanied by a notable drop in the staking TVL ratio, which signals a shift in investor sentiment and could potentially trigger even higher highs.
Currently, we are seeing similar trends emerging. The staking ratio is taking a dip as the price has bounced back up from $5 to $6. If history repeats itself, it’s possible that this development could be indicative of further gains on the horizon.
It’s worth noting that locked tokens are not flexible and can’t be easily utilized during periods of higher volatility and gains. This rigidity may lead to an even swifter drop in the staking TVL ratio as investors increasingly choose to withdraw their funds from staking pools to engage in trading activities instead.
The observation also revealed a significant increase in social sentiment, suggesting that confidence in TON is on the rise once again. Moreover, an evaluation of supply distribution shows that smaller addresses have been actively accumulating more TON, while larger holders have been steadily offloading their holdings.
Considering the data from March 2024, it appears that this trend could potentially be indicative of a shift in investor sentiment towards a more optimistic outlook for Toncoin’s future.
Source: ambcrypto.com
