Toncoin traders take profits as crypto VCs invest $400M in TON
- Toncoin price dipped to $3.6 on Friday, down 9% from the $4.1 peak recorded on Thursday.
- The correction follows profit-taking after a prominent crypto VC announced a $400M TON purchase.
- Coinglass derivatives data shows $10 million in short futures contracts clustered around the $4 mark.
Toncoin announces $400 million capital inflows from venture capital firms
The Open Network (TON) Foundation announced on Thursday that a consortium of venture capital firms, including Sequoia Capital, Ribbit, Benchmark, and Kingsway, has collectively invested more than $400 million in Toncoin.
“These venture capital firms have invested over $400 million in Toncoin, which is the native cryptocurrency of the TON blockchain, the funding is provided…
