Toncoin (TON) Network Value to Transaction (NVT) Ratio Has Trended Higher Since September

Toncoin [TON], at press time, was down by close to 14% from the high it made in late September – $6.13. That’s not all though as the market structure of the

Toncoin (CRYPTO: TON) was trading lower Monday evening. The 10th-largest cryptocurrency by market cap, according to CoinMarketCap, was down 13.8% over the past 24 hours and 23.3% over the past seven days.

The price of TON dropped sharply in late September, coinciding with a broader sell-off in the crypto market. Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) both fell below key support levels during the downturn.

After making a high of $6.13 on Sept. 28, Toncoin fell sharply and was trading around $4.80 at press time. The asset had a total trading volume of $63,583,205 over the past 24 hours, according to CoinMarketCap.

The price of Bitcoin was up 10.5% over the past 30 days and was trading around $22,100 at press time. In comparison, Toncoin was up just 1.3% during the same period.

The 10th-ranked crypto asset had a 0.26 correlation with Bitcoin over the past month, according to data from IntoTheBlock.

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