Ton Foundation Treasury Launch May Influence Toncoin

TON Foundation Treasury Launch Targets $400M Backing

TONFoundation and Kingsway Capital announced a partnership to seek funds of $400 million. Toncoin, the native cryptocurrency of the platform’s blockchain linked to Telegram, would be held and managed by this new company. Ton foundation treasury launch is setting an example for rising trend where companies treat tokens like Toncoin as institutional-grade reserves.

A Bloomberg report claims that both the companies are partnering for getting closer to forming a publicly traded company in order to raise Toncoin.

Source: Wu Blockchain

The companies have yet to decide whether to go public with the firm through a PIPE (Private Investment in Public Equity) or a SPAC (Special Purpose Acquisition firm). As per the reports a PIPE deal would probably be used for the fundraising.

TON Foundation Treasury Launch to Drive Institutional Adoption of Toncoin

Kingsway would be a major investor in the reserve firm following the crypto reserve trend. Prior to an IPO, the partnership would allow carefully chosen investors to acquire discounted companies shares. The money collected will be going directly toward the acquisition of native tokens. This step promotes institutional use of  TONcoins, reduces volatility, and helps them drive integration into web2 and retail markets!

Many institutions are seeking to get long-term exposure to digital currencies and  are already adopting Bitcoin and Ethereum treasuries.

Wallet Goes Live in USA with New Firm launch

Recently its wallet went live in the USA allowing users to send and manage crypto directly through the app. The wallet opens right inside Telegram. The self-custodial wallet supports stablecoin transfers, token swaps, and zero-fee crypto purchases via MoonPay. Over 100 million users worldwide have already activated their wallets, demonstrating the wallet's widespread popularity.

Token Price Reacts to Ton Foundation Treasury Launch

Source: Coinmarketcap

On July 25, Toncoin saw a 2% increase following Ton Foundation treasury launch with Kingsway of $400 million Toncoin reserve firm news. However, when traders locked profits, prices fell within an hour . Trading volume fell 18% after the announcement, indicating poor buying follow-through. At the time of writing the price of toncoin is $3.09 USD with a dip of 1.42%.

Will Growing Cryptocurrency Reserves Trend can ignite Crypto Market

The Ton Foundation treasury launch will boost its native token’s future giving investors confidence to invest. Crypto Market Cap is seeing a significant dip from the past 2 days after hitting a $4T cryptocurrency market capital. Institutional interests are emerging in holding digital reserves like Bitcoin and Ethereum. These holdings can give spark to the downfall observed in past days. The Bitcoin and Ethereum reserve trend are being adopted and recognised by many giant financial banks and institutes globally.