Toncoin Primed for Breakout as Verb Tech Backs $558M TON Reserve—Bullish Signal?
Toncoin (TON) traders are circling the charts after Verb Technology's bombshell $558 million reserve commitment—just as the asset tests a critical ascending triangle support level.
When 'strategic reserves' meet technicals
The TON ecosystem just got a half-billion-dollar vote of confidence from enterprise SaaS player Verb. No vague partnerships here—just cold, hard treasury allocation that'd make even Bitcoin maximalists raise an eyebrow. Meanwhile, the charts show TON flirting with a textbook bullish pattern's support trendline.
Timing the TON effect
Market makers love nothing more than a juicy corporate reserve story—especially when it conveniently aligns with a technical setup begging for a breakout. Watch for liquidity pools to front-run the narrative while retail plays catch-up (as usual).
Just remember: in crypto, nine-figure 'strategic moves' either mint new millionaires or become MBA case studies in reckless diversification. Place your bets.
TON declines amid Verb Technology's $558 million treasury plan and rebrand to TON Strategy
Nasdaq-listed social commerce company Verb Technology is set to raise $558 million in a private placement to become the first publicly-traded firm to adopt Toncoin as a primary treasury reserve asset, according to a statement on Monday.
The PIPE investment involves the sale of approximately 58.7 million shares at $9.51 each. The company claims the funding round has drawn participation from more than 110 investors, led by Kingsway Capital and anchored by Blockchain.com, Vy Capital, Ribbit Capital and Graticule.
Following the expected close of the transaction on or around August 7, Verb Technology will rebrand as TON Strategy Co. and will use most of the proceeds to purchase TON.
The rebrand is expected to bring crypto and institutional finance leaders into TON Strategy Corp's executive team. Manuel Stotz, CEO of Kingsway Capital and President of the TON Foundation, will serve as Executive Chairman of the company. Veronika Kapustina, a former advisor to the TON Foundation and ex-Morgan Stanley banker, will take on the role of CEO. Sarah Olsen, co-founder of Europa Partners and former Head of Corporate Development at JPMorgan's Kinexys, will serve as CFO, while Blockchain.com CEO Peter Smith will join as a special advisor.
"In my judgment, permanent capital vehicles are particularly suitable for long-term holdings of TON, which not only has the potential to compound in value, but also offers staking yield, meaning TSC can benefit from staking rewards," said Manuel Stotz, incoming Executive Chairman for TON Strategy Corp.
Verb Technology added that it will lock up 36% of its shares for up to 12 months. It also plans to keep 77% of the potential capital from the PIPE investment in cash, which it claims will equal about 5% of TON's total circulating supply.
Verb Technology shares ROSE over 150% following the announcement, but TON failed to react, down 6% in the past 24 hours.
TON could bounce off ascending right-angle triangle support
After crossing above the 200-day Simple Moving Average (SMA) last week, TON saw a rejection at the resistance NEAR $3.76 on Sunday. Following its subsequent decline, the altcoin is testing the 200-day SMA. The lower boundary trendline of an ascending right-angle triangle could provide support on the downside if the 200-day SMA support fails. Further down, TON has key support levels near the 50-day Exponential Moving Average (EMA) and SMA, $2.90 and $2.71, respectively.
TON/USDT daily chart
On the upside, TON could retest the $3.76 resistance if it bounces off the triangle's ascending trendline. A MOVE above $3.76 could stretch its rally to the $4.21 hurdle.
The Relative Strength Index (RSI) and Stochastic Oscillator (Stoch) are trending downward toward their neutral level line, indicating a weakening bullish momentum.
