Toncoin (TON) Dips 6% Despite Verb Technology’s $558M Treasury Reserve Plan
Toncoin (TON) dropped 6% even as Verb Technology announced a $558 million private investment to create the first publicly-traded TON treasury reserve. The Nasdaq-listed company will rebrand as TON Strategy Co. upon closing the deal in August, with most proceeds earmarked for TON purchases.
Verb's stock soared over 150% on the news, but TON's price movement diverged, testing key technical support levels. The PIPE offering drew major crypto investors like Kingsway Capital, Blockchain.com, and Ribbit Capital at $9.51 per share.
The disparity between Verb's equity surge and TON's decline indicates market doubts about near-term treasury deployment. Charts show TON nearing a critical support level as traders await signs of institutional accumulation.
