Toncoin (TON) has outperformed the broader cryptocurrency market with a 24% monthly gain, trading between $3.61-$3.71 as of August 4, 2025, while major assets like Bitcoin and Ethereum declined. Its market capitalization now exceeds $8.6 billion, supported by $585 million in daily trading volume. This rally extends a bullish trend initiated in mid-June, defying widespread market volatility.
Fundamental drivers include a $400 million institutional treasury fund established through a partnership between the TON Foundation and Kingsway Capital, designed to purchase and hold TON tokens as reserve assets. Simultaneously, STON.fi—TON's dominant decentralized exchange handling over 80% of its DeFi activity—secured $9.5 million in Series A funding to expand cross-chain operations and governance features.
On-chain metrics show explosive growth: new wallet addresses surged 36% and active addresses jumped 51% weekly. Derivatives demand reached record levels, with open interest hitting $384 million. Technically, TON exhibits strong upside potential with its Relative Strength Index (RSI) at 67.21—indicating bullish momentum without overbought conditions—and a positive funding rate of 0.0061% reflecting trader confidence. Liquidation heatmaps highlight $3.77 as a key support zone, with resistance near $4. A breakout could propel prices toward $4.40-$5, though failure to hold $3.49 may trigger pullbacks.