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- Coinbase Ventures, part of the American crypto exchange Coinbase, is now the owner of Toncoin, the Open Network’s primary digital asset.
- At $3.35, Toncoin sits as the 20th-biggest digital asset, with market watchers setting their sights on the $5 level.
Toncoin (TON) is riding a wave of bullish sentiment after Coinbase Ventures, the investment arm of Coinbase, confirmed a direct purchase of TON from Telegram. According to Tons’ X post, the move is a powerful vote of confidence in The Open Network’s future and its ambition to bridge blockchain technology with Telegram’s 1+ billion monthly active users.
They added,
It’s another strong sign of belief in our mission, bringing crypto to the masses through Telegram’s billions of users with real utility, real adoption, and real ownership.
Typically, Coinbase’s strategic investments go into projects with strong fundamentals, robust tech infrastructure, and real-world adoption potential. In TON’s case, the synergy with Telegram makes its growth story especially compelling.
While they couldn’t reveal exactly how much Coinbase invested, or the transaction size, or when the deal closed due to confidentiality agreements, the move is still significant. Coinbase’s involvement could open the door for deeper U.S. institutional participation in TON, potentially accelerating its growth and mainstream reach.
Coinbase Ventures now joins an already impressive list of backers, including Sequoia Capital, Benchmark, Ribbit Capital, Pantera, Ryze Labs, and Animoca Brands.
TON was originally developed by Telegram before being handed over to the open-source TON Foundation. The blockchain is designed to integrate seamlessly into Telegram’s ecosystem, enabling everything from peer-to-peer payments to decentralized apps, all within an app already used daily by millions.
If TON can convert even a fraction of Telegram’s user base into active blockchain participants, it could become one of the most widely used crypto networks in the world.
Market Momentum and Price Outlook
The market’s taken the news well, with traders and analysts eyeing Coinbase’s investment as the spark that could push TON to its next resistance levels. Institutional money is flowing in, and the TON ecosystem keeps expanding.
Nasdaq-listed Verb Technology recently rebranded to TON Strategy Co. and made Toncoin its primary treasury reserve. The company still runs its social commerce and video marketing businesses, but now it’s positioning itself as a publicly traded treasury reserve for the TON blockchain.
Verb backed up that move with a $558 million private placement, selling around 58.7 million shares to more than 110 institutional and crypto-native investors. Kingsway Capital led the deal and saw participation from Vy Capital, Blockchain.com, Ribbit Capital, and Graticule, among others.
And it’s not just Verb, last month, The Open Platform raised $28.5 million in a Series A led by Ribbit Capital, valuing the project at $1 billion.
According to Crypto News Flash, Toncoin could realistically hit $11.95 by the end of 2025, as long as market conditions stay supportive. Beyond that, analysts see room for an even bigger move, projecting a potential climb to $17.88–$23.82, which would mean gains of over 600% from current levels.
For now, Toncoin is holding steady. It’s currently ranked as the 20th-largest cryptocurrency, boasting a market cap of around $8.6 billion and a total supply of about $5.13 billion.
At the time of writing, TON is trading near $3.36, down just 0.039% in the past 24 hours but still up an impressive 11% over the past month.
