Toncoin Gets Listed On Robinhood, Sends TON Price Into The Green

Toncoin (TON) went from red to green on Thursday in early morning trade after Robinhood (HOOD) announced it would be listing the cryptocurrency on its exchange.

Toncoin’s price climbed 1.2% over the past hour, now up 1.8% in the last 24 hours. On Stocktwits, retail sentiment around the cryptocurrency jumped into ‘bullish’ territory from ‘bearish’ over the past day amid ‘high’ levels of chatter.

Robinhood has stepped up the pace of new listings this year as regulators adopted a more crypto-friendly stance under President Donald Trump. This month alone, the exchange added Sui (SUI), Floki (FLOKI), and Ondo (ONDO), along with Bonk (BONK), Pudgy Penguins (PENGU), Peanut the Squirrel (PNUT), and Stellar (XLM).

HOOD’s stock gained as much as 1.4% in pre-market trade. On Stocktwits, retail sentiment around the crypto exchange remained in ‘bearish’ territory over the past day.

Toncoin has also garnered institutional interest of late. Verb Technology Company (VERB) announced last week that it will be rebranding itself as the ‘Ton Strategy Company’ and had acquired $713 million worth of TON tokens as a part of its digital asset strategy. The company claimed its aim was to acquire over 5% of TON’s circulating supply, but it has already exceeded this target significantly.

Toncoin was first developed in 2018 by Telegram co-founder Nikolai Durov and was known as the ‘Telegram Open Network. It was relaunched as ‘The Open Network under the TON Foundation in late 2020, after Telegram withdrew from the project due to regulatory issues with the Securities and Exchange Commission (SEC).

Read also: Why Snowflake Stock Is Gaining Steam In Today’s Premarket

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