The Toncoin ecosystem is drawing renewed interest following reports that the TON Foundation and Kingsway Capital Partners are aiming to raise $400 million for a new crypto treasury company. The venture would reportedly use a private investment in public equity (PIPE) model, where shares in a public company are sold to private investors at a discount to acquire and hold Toncoin as a primary asset.
Sources close to the initiative confirmed Kingsway Capital as one of the key investors supporting the project. Manuel Stotz, who leads Kingsway and serves as the president of the TON Foundation, has not yet made a statement. Nonetheless, this has boosted Toncoin's presence in the broader crypto space, as the token has been relatively subdued compared to other primary tokens, such as Bitcoin and Ethereum.
This strategic decision parallels movements adopted by other companies, including MicroStrategy, that have stockpiled Bitcoin as a reserve currency. As more institutional players incorporate Layer-1 tokens into their treasury strategies, Toncoin can expect a reduced circulating supply and higher price stability if accumulation continues at scale.
The price of Toncoin is currently at about $3.16. The token has gained over 9% this month despite its 23% slump year-to-date. The market is closely watching a key resistance point at $3.77, and a subsequent breakout could reach as high as $5.50 if momentum persists.
Toncoin is also on an upward trend within a rising channel on the daily chart. This trend indicates an uptrend, but with short-term corrections in between. The downward trend line has held, and solid support is evident at approximately the $2.31 mark, where over 3.5 billion TON were purchased, indicating high buyer interest.
IntoTheBlock on-chain metrics report 88% of TON holders are underwater, although there is no key sell wall between the $3.19 and $5.13 levels, which should not cause substantial resistance. The Money Flow Index (MFI) indicates an improvement at 68.63, while the MACD indicator is starting to show a bullish trend. These signals collectively indicate increasing pressure on the $3.77 resistance level.
The treasury strategy in Toncoin follows the trend in the formation of altcoin treasuries. Other initiatives, such as Ethereum, Solana, and XRP, have also seen a rise in public organizations' interest in establishing digital asset reserves. Additionally, major companies such as Cantor Fitzgerald have been stated to have shown interest in Toncoin-related projects, further confirming institutional demand.
The suggested treasury may be able to foster prolonged value growth by reducing the supply and maintaining institutional confidence. It also aligns with the launch of Telegram's native TON Wallet, which has already attracted tens of millions of users in the United States.
As market interest grows and institutional models evolve, Toncoin’s unique position as a Layer-1 token with active integration into a messaging platform may drive further adoption and price movement in the months ahead.