Venture Firms Accumulate Over $400 Million in Toncoin, Betting on TONs Future Success

The organization behind the development of The Open Network (TON), known as TON Foundation, has revealed that over $400 million in Toncoin is held by several leading venture capital firms.

These firms include Sequoia Capital, Ribbit, Benchmark, Kingsway, Vy Capital, SkyBridge, and others.

“A number of venture capitalists are essentially placing their bets on the future success and utility of the TON blockchain, its expanding ecosystem, and its potential for real-world application of crypto assets, especially within Telegram,” commented a representative of the organization in an interview with The Block.

In response to this news, Toncoin experienced a 3.8% increase in value within the last hour, as reported by CoinGecko. At the time of writing, the price sits at $3.7.

Earlier, the developers of The Open Network shared their roadmap for updates scheduled for the first half of 2025. Key changes will include the launch of a second-level payment network, enhancements to the user interface, and more.

It’s worth noting that in January, Telegram prohibited the creation of Web3 applications on networks other than TON, entering into an agreement with the organization responsible for the development of the TON ecosystem.

By the end of 2024, the blockchain project’s team reported that 36.2 million crypto wallets had been created. The number of Toncoin token holders exceeded 100 million, with up to 40 million accounts exhibiting monthly activity.

*Update (March 21, 2025, 16:30 MSK/15:30 Kyiv): The headline and first paragraph of the article have been revised.*