TON Coin Climbs After $400M Investment – Is This the Future of Crypto or Just Another Fad?

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Here’s the 411:

  • TON saw a solid 8% bump before deciding to take a nap on Thursday.
  • The Open Network Foundation happily declared that a group of venture capitalists decided to drop $400 million on Toncoin.
  • TON is the hot new token from the TON blockchain—originally made famous by Telegram. But let’s face it, its price is still on life support, down over 50% since the June hype, thanks to Telegram CEO Durov’s little run-in with the law in France.

Oh, you thought Telegram was just for sending memes and avoiding texts from your mom? Well, it turns out that their blockchain is a hot ticket item! Toncoin (TON), the star of the Telegram-flavored TON blockchain, got a nice little jolt on Thursday after the Open Network Foundation proudly announced that a group of venture capital firms had decided to throw a whopping $400 million into this digital currency.

And who’s in on this party, you ask? Oh, just a casual lineup of venture giants like Sequoia Capital, Ribbit, Benchmark, and Kingsway. But wait, there’s more! We also got Vy Capital, Draper Associates, Libertus Capital, CoinFund, Hypersphere, SkyBridge, and Karatage (because apparently, the more the merrier).

In case you were wondering, no, this isn’t a fundraising round. The VCs aren’t begging for spare change. They’re betting that TON, with its growing ecosystem, will bring real-world value to crypto, especially in Telegram. Basically, they’re thinking, “Hey, Telegram’s popular, maybe we’ll make some money off their blockchain!”

And guess what? Right after the announcement, TON’s price shot up more than 8% to over $3.80—only to take a little dip and calm down like a toddler who just got a sugar rush. But hey, it’s still up 2% in the last 24 hours. Progress, right?

Now, here’s the backstory. The TON network was created by your favorite messaging app, Telegram. But, because some people love lawsuits, Telegram decided to hand the reins over to the TON blockchain, mainly because they were knee-deep in regulatory issues after settling a 2020 SEC lawsuit. Drama, right?

And just when you thought it couldn’t get crazier, Telegram’s CEO Pavel Durov got arrested in France this August! Why? Apparently, it was because Telegram was having some issues with moderating content and helping out law enforcement. Don’t worry, Durov got his passport back earlier this month. The good news? TON surged by 20% when that happened. Talk about a redemption arc!

Oh, and did we mention that Pantera Capital—an investment firm you’ve definitely heard of—made its “largest investment ever” in TON back in May? No, they didn’t tell us how much, because why share all the juicy details when you can keep us guessing? But still, the token’s price is down 54% from its June high above $8. So… yeah, let’s call it a rollercoaster ride, shall we?

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2025-03-20 18:33