22/03/2025

VCs Back Toncoin: $400M+; Kraken’s Biggest Crypto Deal

editor06 mins

The Rise of Toncoin: A Closer Look at the Cryptocurrency’s Recent Surge

Introduction

In the dynamic world of cryptocurrencies, one name has been making waves recently: Toncoin (TON). With a price surge of over 50% in the past week, Toncoin has captured the attention of investors and enthusiasts alike. This remarkable rise can be attributed to the latest developments surrounding Telegram founder Pavel Durov and a significant VC investment. Let’s delve into the world of Toncoin and explore what’s driving its recent success.

What is Toncoin?

Toncoin is the native cryptocurrency of the TON blockchain, a decentralized, scalable, and secure network. Originally developed by Telegram, TON was initially designed to power a decentralized ecosystem of applications, including a decentralized file storage system and a platform for decentralized apps (dApps). However, due to legal challenges, Telegram abandoned the project, leading to the community launching an independent version of the blockchain, which later rebranded to TON.

Toncoin serves as the primary means of payment on the TON blockchain, facilitating transactions and enabling users to interact with various services and dApps. It can also be traded on various cryptocurrency exchanges, allowing investors to buy, sell, and hold the token.

VC Investments and Toncoin’s Surge

Toncoin’s recent price surge can be traced back to a significant investment by venture capital (VC) firms. In February 2025, a group of prominent VCs injected over $400 million into Toncoin, marking one of the largest-ever crypto and traditional finance (tradfi) deals. The investment round was led by Sequoia Capital, with participation from Andreessen Horowitz, Union Square Ventures, and other notable firms [1].

This substantial investment has not only boosted Toncoin’s price but has also lent credibility to the project, attracting more investors and increasing its visibility in the market. The influx of capital from established VC firms signals a growing confidence in the project’s potential and its ability to deliver on its promises.

Pavel Durov’s Involvement

Another factor contributing to Toncoin’s recent surge is the news that Telegram founder Pavel Durov has been granted permission to leave Russia and resume his involvement in the TON project. After a legal battle with the US Securities and Exchange Commission (SEC) forced Telegram to abandon TON, Durov’s return to the project could breathe new life into it, potentially driving further growth and adoption [2].

Impact on the Cryptocurrency Market

Toncoin’s recent surge has several implications for the broader cryptocurrency market:

  • Growing VC Interest: The investment in Toncoin is part of a broader trend of VC firms pouring billions of dollars into the cryptocurrency market. In 2021 alone, blockchain startups raised over $17 billion from VCs [3]. This increasing interest from traditional finance indicates a maturing market and a growing acceptance of cryptocurrencies as a viable asset class.
  • User-Driven Growth: Toncoin’s surge is a testament to the growing importance of user-driven application growth in the cryptocurrency market. As the market matures, projects with real-world use cases and strong communities, like TON, are gaining traction and attracting more investors.
  • Market Volatility and Opportunity: Despite its recent gains, Toncoin’s price remains volatile, reflecting the overall nature of the cryptocurrency market. This volatility presents both risks and opportunities for investors, who must carefully navigate the market’s ups and downs.

    • Conclusion

    Toncoin’s recent surge is a sign of the growing maturity and potential of the cryptocurrency market. With significant VC investments and the potential return of Pavel Durov, Toncoin has the wind in its sails. However, the cryptocurrency market remains unpredictable, and investors should always exercise caution and conduct thorough research before investing.

    Sources:

    [1] The Block)
    [2] Holder.io
    [3] CoinGecko
    [4] FXEmpire
    [5] CoinGecko
    [6] The Block
    [7] LinkedIn
    [8] Cryptechie
    [9] CoinLenta
    [10] Cryptonary

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