Robinhood has added Toncoin (TON) to its platform, resulting in a 60% increase in trading volume to $280 million. This development coincides with Verb Technology's significant investment of $713 million in Toncoin, exceeding its 5% supply target. The move highlights growing institutional interest in the cryptocurrency, potentially boosting its mainstream adoption. Despite the increased activity, Toncoin's price remained stable at $3.17, with resistance noted at $3.25.
Robinhood's listing of Toncoin is part of a broader strategy to expand its cryptocurrency offerings, which now include assets like Sui and Stellar. The company's stock saw a 1.4% rise in pre-market trading, although market sentiment remains bearish. Toncoin's market capitalization has reached $8.16 billion, with 153,440 active holders. Verb Technology plans to rebrand as Ton Strategy Company, underscoring its commitment to the cryptocurrency. Originally launched by Telegram co-founder Nikolai Durov, Toncoin has overcome past regulatory challenges to relaunch under the TON Foundation.
Robinhood Lists Toncoin as Verb Technology Invests $713M
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