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- TON rebounds as 10% of holders return to profit after a prolonged downtrend.
- Telegram founder announces $400 million investment from Silicon Valley firms.
- Exchange outflows signal strong accumulation, pointing to bullish momentum.
The Open Network’s TON token is making a strong recovery, defying recent market odds after a prolonged downtrend.
On-chain data indicates about 10% of TON holders are now back in profit, a significant shift from when nearly all holders were at a loss, signaling renewed bullish interest in the Telegram-linked token.
What’s Fueling TON’s Renewed Confidence?
This resurgence largely follows Telegram founder Pavel Durov revealing major investments into the project from top Silicon Valley VC firms.
On March 26, Durov stated that prominent funds including Sequoia, Benchmark, Ribbit, Draper, and VY Capital had collectively invested over $400 million into the TON ecosystem. This substantial financial backing provides significant capital while also serving as a strong public endorsement of TON’s potential.
Besides that, Durov has doubled down on The Open Network as the only scalable blockchain technology with sharding and the capacity to process transactions for billions of users. “It’s one of the few blockchain networks with real fundamental value,” he wrote.
Related: Pavel Durov Calls TON Telegram “Backbone,” $400M VC Support Revealed
Exchange Outflows Point to TON Accumulation
Adding to the market optimism, on-chain data provider IntoTheBlock reported over 1.1 million TON tokens were withdrawn from tracked exchanges just yesterday (March 27). Such large-scale outflows often suggest investors are moving tokens into private custody for longer-term holding, a sign of accumulation.
Related: TON Holders Soar to 90 Million, Marking 2400% Growth
This activity typically reduces readily available selling pressure on exchanges and can contribute to upward price momentum. Market watchers often view sustained outflows as a precursor to further price gains.
TON Technical Outlook: Can Recovery Breach Key Resistance?
From a technical perspective, TON’s recent price chart displays a distinct V-shaped recovery pattern. Analysts monitoring the near-term charts highlight key resistance ahead for the token, primarily in the $4.80-$5.20 range.
A decisive breakout and hold above this resistance zone could potentially position TON to retest highs seen last November. Consequently, traders are closely watching this level, with some reportedly considering spot purchases or using potential dips for incremental buys.
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