The expansion strategy of the United States includes the foundation’s designation of Manuel Stotz, founder of Kingsway Capital Partners, as the new president. Stotz will replace Steve Yun, who will be on the board, as per the prominent media outlet, Bloomberg.
It is important to note that Open Network is a blockchain platform that permits 950 million users of Telegram to use services like in-app payments and games, frequently using its native cryptocurrency, Toncoin.
Toncoin price analysis Source: CoinMarketCap
At the time of writing, the price of
Toncoin is $5.42, up around 3.42 % in the last 24 hours, driving its market capitalization to $13.75 billion. In the past 7 days, it was 2.85% up witnessing a slight slump for 2 days.
As per the data available on CoinMarketCap, Ton the widely known crypto has the highest traded at $8.24, and its lowest trading price in the past 52 weeks was $2.02.
TON has continued to prove its relevance in the wider market with a major growth in the market capitalization; per the data available from TradingView its market cap has shown an unprecedented growth of 63.84 percent annually; yet until publishing it was at $13.8 billion, less than 20, 50, 100 and 200 days exponential moving average.
The pro-crypto outlook
The step taken by the foundation in the United States shows its belief that the nation will become a global hub for the crypto revolution in the near future. The outlook is highly influenced by President-elect Donald Trump and his promise to make the United States a prominent player in the virtual asset sector, comparing it to the harsh regulations of the previous government.
The newly elected president, Donald Trump is pro-crypto, and this shift has been witnessed not long before. Before this, he was very skeptical about the industry. In July 2024, at the time of his campaign, he said that Bitcoin shows freedom, sovereignty, and independence from the administration.
The policy proposal of Trump further confirmed the support of Trump for the crypto industry. He has also promised to make the United States the crypto capital of the planet and has believed in the development of a Bitcoin strategic reserve.
Adding more to this, Trump has introduced a cryptocurrency venture of his family, World Liberty Financial, showing his personal investment in the sector.
Before this, the trial of Telegram to generate funds for a crypto project witnessed challenges from the regulators of the United States, resulting in a settlement with the Securities and Exchange Commission in 2020.
Target of TON Foundation
Having a prolonged focus on the market of the United States, the TON Foundation aims to keep itself at the forefront of the predicted virtual asset boom under the upcoming administration. The ambitious plans, amalgamated with a growing user base and revolutionary blockchain solution, show an important moment for both the foundation and the widened blockchain industry.
Even if the United States truly becomes a global crypto hub to be witnessed, the TON Foundation is truly making itself ready to play a significant role in building the future.
