- AlphaTON launched a $100M TON treasury, but the Toncoin price has remained flat.
- Another company, TON Strategy, has accumulated $713M in TON.
- TON adoption is growing amid its integration into Telegram, but its DeFi TVL remains low.
While many expected the $100 million TON treasury launch by AlphaTON Capital to spur some bullish momentum for Toncoin price, the cryptocurrency has remained largely unmoved.
The altcoin remains bound in a bearish trend that has seen its value depreciate by more than 54% from its December 2024 highs.
The question that must be on the traders and investors’ minds now is whether corporate treasuries and strategic partnerships are enough to revive sentiment around Toncoin or if more market catalysts are needed.
The $100 million AlphaTON Capital Toncoin treasury
AlphaTON Capital, formerly Portage Biotech, announced that it would deploy a $100 million Toncoin treasury.
Besides rebranding its name, the Nasdaq-listed company also rebranded its trading ticker to ATON and began trading under the new ticker on September 4.
AlphaTON outlined plans to generate predictable revenue streams through staking and validation, while also supporting decentralised applications, DeFi protocols, and gaming platforms on the TON blockchain.
The company’s leadership, including blockchain advocate Brittany Kaiser as CEO and Enzo Villani as Executive Chairman, has emphasised that Toncoin will serve as its primary reserve asset.
To kickstart its strategy, AlphaTON raised $38.2 million through a private placement of 6.7 million shares and secured a $35 million loan facility with BitGo Prime.
Public companies betting on Toncoin
AlphaTON is not alone in betting big on TON. Earlier this year, Verb Technology rebranded as Ton Strategy Company after acquiring $713 million worth of Toncoin.
The Nasdaq-listed firm has doubled down on its crypto pivot by announcing a $250 million stock buyback program, a move aimed at both supporting shareholder value and expanding its TON holdings.
Notably, these developments mirror Bitcoin’s corporate treasury moment, led by MicroStrategy, and suggest that Toncoin is gaining recognition as a strategic asset for listed companies.
However, for crypto investors, the question is whether this level of institutional adoption will translate into sustained retail demand, especially as Toncoin integrates more deeply into Telegram’s ecosystem.
Telegram integration drives the long-term narrative for Toncoin
Toncoin’s value proposition is tightly linked to Telegram, which boasts over one billion monthly users.
The integration of TON wallets into global markets, including the U.S. in July 2025, has positioned the token for potential mass adoption.
TON’s developers are also expanding into mini-apps, gaming, and DeFi projects that could leverage Telegram’s scale to onboard millions of new users.
However, the network still faces an uphill climb. Data from DeFiLlama shows that TON’s total value locked stands at $193.51 million, a fraction compared to Ethereum’s $92 billion or Solana’s $11.2 billion.
This contrast underscores both the challenges and the opportunities: while TON lags its peers in adoption metrics, the gap leaves room for growth if Telegram’s ecosystem delivers on its promise.
Can Toncoin price clear the $4 hurdle?
With Toncoin currently trading near $3.14, the question is whether the sustained treasury accumulation and ecosystem expansion can push the token toward a $4 breakout in September.
Despite the price remaining down 36% year-on-year and 62% below its June 2024 all-time high of $8.25, bullish investors argue that corporate demand and Telegram-driven adoption could provide the spark for recovery.
However, the Toncoin price needs to stay above $2.81 if there are to be any hopes of a bullish breakout towards $4. Also, it must clear the resistances at $3.18, $3.39, and $3.60 according to market analysis.
If the support at $2.81 gives way, then traders can expect a further drop to around $2.56.