Toncoin [TON] has underperformed against Bitcoin [BTC] and other altcoins in the last 30 days after a 5% drop in price. At press time, TON traded at $5.28, as mild volatility hindered significant price moves.
A look at the Sharpe ratio shows that holders are currently sitting at significantly low rewards. At press time, this metric was negative, and at its lowest level in one month.
A negative Sharpe ratio shows that the risk of holding Toncoin is higher than the reward. With TON failing to post significant gains, a predominantly low and negative Sharpe ratio could dampen interest in the token causing further dips.
TON stagnates amid low volatility
TON’s one-day chart shows that in the last two weeks, the price has oscillated between $5 and $5.40. During this time, the Relative Strength Index (RSI) has been below 50 showing a lack of buyer interest to support a breakout.
Read more: ambcrypto.com
