Toncoin (TON) Surges 4.5% as STONfi Secures $9.5M Series A Funding
Toncoin's price jumped 4.46% to $3.66 following a $9.5 million Series A investment in STONfi, its leading DeFi protocol. The funding round was led by Ribbit Capital and CoinFund, demonstrating institutional confidence in the TON ecosystem.
STONfi, which processes 80% of TON's DeFi volume with $6 billion in transactions, will use the capital to develop advanced trading features including concentrated liquidity pools and cross-chain swaps through the Omniston protocol. This positions TON to compete directly with ethereum and Solana DeFi platforms.
Technical analysis shows bullish momentum as Toncoin breaks above its upper Bollinger Band. The development comes amid increasing institutional interest in layer-1 blockchains with strong DeFi potential.
