Value

Toncoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/toncoin-recovers-strongly-and-enters-the-top-10-by-market-cap/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Toncoin Recovers Strongly and Enters the Top 10 by Market Cap</a><br></p>
<p style="text-align: justify">Toncoin (TON) has entered a recovery phase following a significant loss in value about two weeks ago. The <a href="https://en.coin-turk.com/analyst-predicts-further-gains-for-a-rising-ethereum-competitor-in-2024/" data-wpel-link="internal" rel="noopener noreferrer nofollow">altcoin</a> is actively exhibiting an upward trend in an effort to return to its historical levels.</p>
<h2 id="toncoin-price-shows-upward-trend">Toncoin Price Shows Upward Trend</h2>
<p style="text-align: justify">Analyzing the daily price chart reveals that Toncoin reached its highest level in nearly three weeks during the last trading session. On September 13, the <a href="https://en.coin-turk.com/hk-banks-resist-serving-crypto-exchanges-despite-regulatory-pressure/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> rose by 3.5% to $5.77, starting to mitigate the effects of a previous decline of over 30%.</p>
<p style="text-align: justify">Although it has not fully returned to its previous levels, the recent upward trend is viewed as a strong indicator of recovery. The Relative Strength Index (RSI) crossing above the neutral line suggests increasing buying pressure, indicating potential further price increases.</p>
<h2 id="re-entering-the-top-10-by-market-cap">Re-entering the Top 10 by Market Cap</h2>
<p style="text-align: justify">According to CoinMarketCap data, Toncoin’s market capitalization significantly declined alongside the price drop. On August 24, its market cap was approximately $17 billion, but by September 5, it fell to $11.5 billion, causing it to drop out of the top 10 rankings.</p>
<p style="text-align: justify">However, with the recent price recovery, the market cap has begun to rise again. At the time of writing, Toncoin’s market cap exceeded $14.5 billion, securing its position as the ninth largest cryptocurrency. Additionally, it has seen over 25% value growth in the past seven days, ranking among the top gainers.</p>
<h2 id="investors-start-to-generate-profits">Investors Start to Generate Profits</h2>
<p style="text-align: justify">Toncoin’s 30-day Market Value to Realized Value (MVRV) ratio moved positively with the price increase. During the price decline, the MVRV dropped to -18%, indicating that investors were experiencing an average loss of 18%.</p>
<p style="text-align: justify">Thanks to the recent price surge, the MVRV ratio returned to positive territory, sitting around 6.2% at the time of writing. This suggests that investors are now gaining an average profit of 6.2%, signaling a positive trend in the market.</p>
<p style="text-align: justify">The recent increases in Toncoin’s price and market capitalization present an encouraging picture for investors. The positive trajectory of technical indicators and increased buying pressure promise a hopeful outlook for the cryptocurrency’s near-term performance.</p>
<p>The post <a href="https://en.coin-turk.com/toncoin-recovers-strongly-and-enters-the-top-10-by-market-cap/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Toncoin Recovers Strongly and Enters the Top 10 by Market Cap</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Toncoin Recovers Strongly and Enters the Top 10 by Market Cap

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