{"id":50149,"date":"2025-04-04T08:38:08","date_gmt":"2025-04-04T08:38:08","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/toncoin-plunges-55-from-peak-but-vc-firms-still-hold-over-400m\/"},"modified":"2025-04-04T08:38:08","modified_gmt":"2025-04-04T08:38:08","slug":"toncoin-plunges-55-from-peak-but-vc-firms-still-hold-over-400m","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/toncoin-plunges-55-from-peak-but-vc-firms-still-hold-over-400m\/","title":{"rendered":"Toncoin plunges 55% from peak, but VC firms still hold over $400M"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<ul>\n<li>Key support levels are between $3.50 and $4.00, with a potential rebound if it holds.<\/li>\n<li>Toncoin saw a 20% surge on 17 March after Pavel Durov returned to Dubai.<\/li>\n<li>OKX Ventures invested $5 million in TON-native app development in December 2024.<\/li>\n<\/ul>\n<p class=\"\" data-start=\"76\" data-end=\"613\">Toncoin ($TON), the native cryptocurrency of The Open Network, has experienced sharp volatility over the past year, with its value plummeting 55% from its June 2024 peak of $8.24.<\/p>\n<p class=\"\" data-start=\"76\" data-end=\"613\">At the time of writing, Toncoin trades at $3.50.<\/p>\n<p data-start=\"76\" data-end=\"613\"><\/p>\n<p data-start=\"76\" data-end=\"613\">Source: <a href=\"https:\/\/coinmarketcap.com\/currencies\/toncoin\/\">CoinMarketCap<\/a><\/p>\n<p class=\"\" data-start=\"76\" data-end=\"613\">Despite this decline, investor interest remains strong, particularly among major venture capital (VC) firms, which collectively hold over $400 million in $TON.<\/p>\n<p class=\"\" data-start=\"76\" data-end=\"613\">This financial backing signals long-term faith in the network, even as legal issues and controversial airdrops have clouded its short-term outlook.<\/p>\n<h2>TON trading volume rises<\/h2>\n<p class=\"\" data-start=\"684\" data-end=\"973\">While $TON has fallen significantly from its highs, recent technical indicators suggest that traders are watching closely for a potential breakout.<\/p>\n<p class=\"\" data-start=\"684\" data-end=\"973\">Toncoin is currently testing critical support levels between $3.50 and $4.00.<\/p>\n<p class=\"\" data-start=\"684\" data-end=\"973\">This zone is being eyed as a make-or-break point for the token.<\/p>\n<p class=\"\" data-start=\"975\" data-end=\"1439\">Trading volume has increased by 18%, pointing to renewed activity, although momentum remains mixed.<\/p>\n<p class=\"\" data-start=\"975\" data-end=\"1439\">An inverse Head and Shoulders (H&amp;S) pattern is forming on the charts, often associated with bullish reversals.<\/p>\n<p class=\"\" data-start=\"975\" data-end=\"1439\">If $TON manages to stay above the $4.00&ndash;$4.50 range&mdash;corresponding with the neckline of the H&amp;S structure&mdash;it could pave the way for a recovery toward $5.00&ndash;$5.50.<\/p>\n<p class=\"\" data-start=\"975\" data-end=\"1439\">The Relative Strength Index (RSI) currently sits at 58.37, just below overbought territory.<\/p>\n<p class=\"\" data-start=\"1441\" data-end=\"1679\">However, a drop below $3.00 would reinforce the downtrend and nullify bullish signals.<\/p>\n<p class=\"\" data-start=\"1441\" data-end=\"1679\">Since its launch, Toncoin has risen over 800%, but its recent price action shows growing sensitivity to both market dynamics and external developments.<\/p>\n<h2>Legal and airdrop issues<\/h2>\n<p class=\"\" data-start=\"1749\" data-end=\"2039\">Toncoin&rsquo;s recent price movements cannot be explained by technicals alone. External events have had a marked impact on investor sentiment.<\/p>\n<p class=\"\" data-start=\"1749\" data-end=\"2039\">In the second half of 2024, legal troubles involving Pavel Durov, the creator of Telegram and a key figure behind the TON project, pressured the market.<\/p>\n<p class=\"\" data-start=\"2041\" data-end=\"2424\">Although Durov was permitted to return to Dubai on 17 March 2025&mdash;prompting a 20% surge in Toncoin&rsquo;s price&mdash;the episode added to a string of challenges.<\/p>\n<p class=\"\" data-start=\"2041\" data-end=\"2424\">Criticism also mounted over the Hamster Kombat and NotPixel airdrops, both of which used the TON blockchain infrastructure.<\/p>\n<p class=\"\" data-start=\"2041\" data-end=\"2424\">These events raised concerns among the community about the transparency and fairness of reward distribution.<\/p>\n<p class=\"\" data-start=\"2426\" data-end=\"2593\">Despite the controversy, The Open Network remained one of the top-performing Layer-1 blockchains last year, continuing to attract user activity and developer interest.<\/p>\n<h2>VCs hold $400 million<\/h2>\n<p class=\"\" data-start=\"2652\" data-end=\"2923\">Investor confidence in the long-term viability of Toncoin has been reinforced by growing institutional backing.<\/p>\n<p class=\"\" data-start=\"2652\" data-end=\"2923\">In December 2024, OKX Ventures announced a $5 million investment into TON Ventures, a dedicated fund supporting Telegram-native applications on the blockchain.<\/p>\n<p class=\"\" data-start=\"2925\" data-end=\"3161\">The fund is focused on attracting experienced developers and building tools that encourage wider adoption of the TON network.<\/p>\n<p class=\"\" data-start=\"2925\" data-end=\"3161\">Venture firms such as Sequoia, Ribbit, Benchmark, and SkyBridge are among those with notable holdings in $TON.<\/p>\n<p class=\"\" data-start=\"3163\" data-end=\"3429\">The cumulative VC investment in Toncoin now exceeds $400 million.<\/p>\n<p class=\"\" data-start=\"3163\" data-end=\"3429\">This level of institutional exposure indicates that despite short-term headwinds, many expect the network to grow further, especially as decentralised applications built on TON become more mainstream.<\/p>\n<h2>Launched in 2021<\/h2>\n<p class=\"\" data-start=\"3487\" data-end=\"3854\">Toncoin&rsquo;s journey began in 2018 when it was conceptualised by the creators of Telegram.<\/p>\n<p class=\"\" data-start=\"3487\" data-end=\"3854\">After facing regulatory hurdles, the blockchain&rsquo;s mainnet finally went live in May 2021.<\/p>\n<p class=\"\" data-start=\"3487\" data-end=\"3854\">Since then, it has evolved into a decentralised Layer-1 network, hosting a range of applications including games, decentralised exchanges, and mini-apps integrated with Telegram&rsquo;s interface.<\/p>\n<p class=\"\" data-start=\"3856\" data-end=\"4127\">The close integration with Telegram has helped TON differentiate itself in a crowded blockchain market.<\/p>\n<p class=\"\" data-start=\"3856\" data-end=\"4127\">However, this association has also made the network susceptible to events involving the messaging platform&rsquo;s leadership, as seen with the impact of Durov&rsquo;s legal case.<\/p>\n<p class=\"\" data-start=\"4129\" data-end=\"4356\">Despite the volatility, the TON ecosystem continues to grow, with rising user numbers and increased developer activity.<\/p>\n<p class=\"\" data-start=\"4129\" data-end=\"4356\">The challenge now lies in maintaining technical momentum while navigating the broader regulatory landscape.<\/p>\n<p>The post <a href=\"https:\/\/coinjournal.net\/news\/toncoin-plunges-55-from-peak-but-vc-firms-still-hold-over-400m\/\">Toncoin plunges 55% from peak, but VC firms still hold over $400M<\/a> appeared first on <a href=\"https:\/\/coinjournal.net\">CoinJournal<\/a>.<\/p>\n<p><a href=\"https:\/\/coinjournal.net\/news\/toncoin-plunges-55-from-peak-but-vc-firms-still-hold-over-400m\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Key support levels are between $3.50 and $4.00, with a potential rebound if it holds. Toncoin saw a 20% surge on 17 March after Pavel Durov returned to Dubai. OKX Ventures invested $5 million in TON-native app development in December 2024. [&hellip;]<\/p>\n","protected":false},"author":3947362361,"featured_media":50150,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/50149"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362361"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=50149"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/50149\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/50150"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=50149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=50149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=50149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}