CryptoQuant analyst: TON network liquidity dynamic shows long-term holding trend, with significant difference between market value and liquidity

Odaily Planet Daily News: CryptoQuant analyst Shiven Moodley stated in an article on X platform that the TON network has shown significant growth since August 2021, with its high throughput driving the scalability of the network, and the cooperation with Telegram instant messaging platform further promoting its development. There is a significant gap between the market value and circulating supply of TON network, which may indicate that a considerable portion of tokens are locked or held for a long time, thereby affecting the liquidity of the network. However, there is still a general correlation between market value and circulating supply, indicating that the majority of circulating supply does indeed participate in market valuation. Moodley suggests using the ratio of average market value to price as a proxy indicator for measuring speculative behavior. He explained, "The deviation between market value and price may indicate that the valuation of the token deviates from fundamental indicators, while the close consistency between the two implies a more rational market valuation