Toncoin Price Stalls Despite AlphaTON’s $100M Treasury Bet

AlphaTON Capital has deployed a $100 million Toncoin treasury, aiming to generate revenue through staking and validation while supporting DeFi protocols and gaming on the TON blockchain. Despite this, Toncoin’s price remains flat, trading around $3.14 and down over 54% from its December 2024 peak. Another Nasdaq-listed firm, Ton Strategy Company, holds $713 million in Toncoin, underscoring growing institutional interest akin to Bitcoin’s corporate treasury trend. Yet retail demand has yet to follow through. Toncoin’s long-term outlook hinges on its integration with Telegram, which reached over one billion monthly users and rolled out TON wallets in the U.S. in July 2025. Developers are building mini-apps, gaming and DeFi projects to leverage Telegram’s scale, but TON’s total value locked (TVL) of $193.5 million remains a fraction of Ethereum’s $92 billion and Solana’s $11.2 billion. Technically, Toncoin must hold support at $2.81 and clear resistances at $3.18, $3.39 and $3.60 to challenge a $4 breakout. Failure to defend $2.81 could see a drop toward $2.56. Traders will watch whether institutional treasuries and Telegram-driven adoption can trigger a sustained rally.