TON: Despite 21% Drop, Analysts Still Say the Coin is Undervalued
The Open Network coin from Telegram (TON) is one of many altcoins on the crypto market that has seen a steep drop this past week. The asset is notably down 21% in the last seven days and hasn’t picked up much steam yet to rebound. Trading volume for the coin is also down, showing that buyers are hesitant to swoop up its current dip. Despite its current drop, some analysts suggest that the TON coin is undervalued, and investors should take advantage. According to on-chain data, readings from TON’s Market Value to Realised Value (MVRV) ratio show that the altcoin is currently undervalued. This flashes a signal to buy for investors, and whales are reportedly eyeing the token for massive purchases. Source: Bitcoinist On-Chain Data Suggests That TON is Undervalued In addition, data over the weekend revealed that TON’s MVRV ratios assessed over different moving averages are negative. Its MVRV ratios for the 30-day and 90-day moving averages were -6.39% and -6.87%, respectively on ...