joaowedson2025-01-31

Deleveraging in TON: A Sign of Opportunity?

TON has undergone a significant deleveraging process, as evidenced by a sharp decline in the TVL of DEXs, CEXs, Derivatives, and Options. This movement suggests that many investors have become completely discouraged, liquidating positions and reducing their exposure to the asset. However, this scenario can be seen as a positive signal, especially for whales. Historically, great opportunities arise when retail investors lose hope, creating an ideal environment for strategic accumulation by larger players. Moreover, the Staking TVL Ratio—which measures the percentage of total TVL allocated to staking—has started to rise again. This indicates that despite the capitulation in the speculative sector, a significant portion of investors still hold long-term conviction in TON, opting to lock their tokens in staking rather than selling them on the market. This kind of dynamic can mark the beginning of a recovery phase and a redistribution of supply, potentially paving the way for a future price increase.