Toncoin is preparing to re-enter the US market under the Donald Trump administration.
TVM Ventures recently announced a $100 million fund to enable mainstream adoption of the TON DeFi ecosystem.
Toncoin , the native crypto asset for The Open Network, has gained more traction in the global cryptocurrency market in the recent past. Amid the ongoing cryptocurrency correction, it is evident that TON price has been following Bitcoin’s price action in the recent past in preparation for the thrilling phase of the 2025 crypto bull market.
As Bitcoin price consolidates in a potential horizontal channel, TON price has been following a pennant pattern signaling a potential bullish rebound ahead. As Coinspeaker previously , TON price is likely completing the ABC correction of the second wave in an Elliott wave principle.
Consequently, TON price, against the US dollar, will likely consolidate in the current range in the coming weeks before rebounding towards a new all-time high (ATH) above $8.25. Furthermore, TON price recently retested the last support guard of the March 2024 bullish breakout around $3.35, which coincides with the 1 weekly Fibonacci extension.
In case the current support level above $3.35 fails to hold in the coming weeks, a potential selloff towards $0.94, which coincides with the 1.618 Fibonacci Extension, will be inevitable.
Toncoin Fundamentals Signal Further Bullish Sentiment
The Toncoin network has grown to a vibrant Web3 ecosystem, with more than $215 million in total value locked and a stablecoins market cap of over $1.4 billion at the time of this writing. As Coinspeaker previously , the mainstream adoption of TON is heavily dependent on the Telegram social app, which recently selected the TON chain as the exclusive blockchain partner.
For instance, TVM Ventures recently announced the launch of its $100 million fund initiative to provide financial and technical support to DeFi developers on the TON network. According to , the founder of TVM Ventures, the TON chain is well positioned to grow exponentially during the ongoing crypto bull market as Telegram’s integration aims to put DeFi into every pocket through SocialFi platforms dubbed Telegram mini apps.
The TON chain is also looking to venture into the US market after the former administration of the US SEC forced the Toncoin developers to use geoblockings.
However, the crypto regulatory clarity in the United States under the Donald Trump administration has enabled the TON leaders to gradually re-enter the US market. Earlier this year, Manuel Stotz, the new President of the TON Foundation, attended the Crypto Ball event, where he had a chance for a conversation with Trump.
Meanwhile, on-chain data shows that TON whales have increased their activity, potentially repositioning their portfolios in preparation of a potential bullish rebound. According to , TON accounts, with a balance of between 100k and 1M tokens, decreased by their balance with about 1.43 million coins, thus currently holding around 3.46 million.
Nonetheless, TON is not heavily influenced by whale traders, instead it is evenly to the community.