Robinhood officially added Toncoin (TON) spot trading to its platform on August 28, 2025, marking a significant milestone for the Telegram-linked cryptocurrency. The listing triggered an immediate but modest price reaction, with TON climbing from $3.12 to $3.25 (a 5% intraday surge) before retracing to trade at $3.16 by press time.
The move places Robinhood ahead of major competitor Coinbase, which has yet to launch TON trading support. Despite the positive catalyst, TON's weekly chart remains negative, with the token down over 4% in the past seven days. More significantly, it continues to trade a staggering 61.6% below its all-time high of $8.24 set during the market euphoria of June 2024.
The listing coincides with growing institutional interest, highlighted by Verb Technology Company's substantial $713 million TON token purchase. Robinhood CEO Vlad Tenev emphasized the strategic importance of the move, stating that the company's crypto initiatives "will fundamentally enhance retail engagement with blockchain-based assets."
However, the tepid performance stands in stark contrast to explosive moves seen across the broader altcoin market on the same day. While TON remained relatively flat, other tokens like Cronos (CRO) skyrocketed over 18% following major ecosystem news, and Pyth Network (PYTH) erupted for a nearly 60% single-day gain driven by a foundational partnership with the U.S. Department of Commerce.