According to Odaily, CryptoQuant analyst Shiven Moodley recently shared insights on the X platform regarding the TON Network's performance since August 2021. Moodley highlighted the network's significant growth, attributing its scalability to its high throughput. The collaboration with the Telegram instant messaging platform has further propelled its development.
Moodley pointed out a noticeable gap between the market capitalization and the circulating supply of TON tokens. This discrepancy suggests that a substantial portion of the tokens might be locked or held for the long term, impacting the network's liquidity. Despite this, there remains a general correlation between market capitalization and circulating supply, indicating that most of the circulating supply is indeed factored into the market valuation.
Moodley recommended using the average market capitalization to price ratio as a proxy indicator for speculative behavior. He explained that deviations between market capitalization and price might signal that the token's valuation is diverging from fundamental metrics, whereas a close alignment between the two suggests a more rational market valuation.
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