TON Strategy lost $23.97M in Q3. Just a paper loss? Partly. đ§
Yes: $27.2M is an unrealized GRAM markdown, after an $82.8M gain in Q2. Operating income was +$4.0M and there is no debt.
But the headline hides three things:
đč Cash: $25.3M, down from $39.5M at year-end. Staking pays in GRAM while bills are paid in dollars, so that $4.0M âprofitâ isnât cash.
đč Liquidity: about $176.5M of the $348.5M treasury is restricted GRAM.
đč Q4 starts weaker: GRAM trades near $1.05, down ~29% from $1.48 at Sep 30. On 235.1M tokens that is a ~$246M treasury (my math), and 2M GRAM were sold for $2.3M since Oct 1.
Chart view: $1.00 is the demand zone to hold. Reclaiming $1.14â1.16 (the Nov 11 mark and recent sale price) would be the first sign of stabilization.
Does a 16% staking yield matter if the token keeps falling? đ
Not financial advice.
$GRAM
$TONX.US
#TONStrategyReports$23.97MQ3NetLoss #WhatWillDriveCryptoandStocksâNextRebound? #TON #CryptoTreasury
Yes: $27.2M is an unrealized GRAM markdown, after an $82.8M gain in Q2. Operating income was +$4.0M and there is no debt.
But the headline hides three things:
đč Cash: $25.3M, down from $39.5M at year-end. Staking pays in GRAM while bills are paid in dollars, so that $4.0M âprofitâ isnât cash.
đč Liquidity: about $176.5M of the $348.5M treasury is restricted GRAM.
đč Q4 starts weaker: GRAM trades near $1.05, down ~29% from $1.48 at Sep 30. On 235.1M tokens that is a ~$246M treasury (my math), and 2M GRAM were sold for $2.3M since Oct 1.
Chart view: $1.00 is the demand zone to hold. Reclaiming $1.14â1.16 (the Nov 11 mark and recent sale price) would be the first sign of stabilization.
Does a 16% staking yield matter if the token keeps falling? đ
Not financial advice.
$GRAM
$TONX.US
#TONStrategyReports$23.97MQ3NetLoss #WhatWillDriveCryptoandStocksâNextRebound? #TON #CryptoTreasury
