Toncoin gains 8% as STON.fi secures $9.5M to expand DeFi on TON
Main Idea
STON.fi raised $9.5 million in Series A funding to expand DeFi on the TON blockchain, leading to an 8% price increase for Toncoin.
Key Points
1. STON.fi secured $9.5 million in funding led by CoinFund and Rabbit Capital to enhance DeFi growth on the TON blockchain.
2. Toncoin's price rose by 8% following the funding announcement, reflecting renewed market optimism.
3. STON.fi is a core DEX on TON, handling 80% of Toncoin trades and over $6 billion in trading volume.
4. The funding will support STON.fi's roadmap, including cross-chain interoperability and improved trading experiences.
5. Toncoin's trading volume increased by 36%, indicating strong upward momentum in the market.
Description
The cryptocurrency market plunged on Wednesday amidst Fed policy jitters and Indonesia’s crypto tax updates . Telegram-based Toncoin was among the few tokens with gains in the past 24 hours. Toncoin exhibited an upbeat outlook following a crucial announcement. According to a 30 July press release, TON’s core DEX STON.fi has raised $9.5 million in a Series A funding led by CoinFund and Rabbit Capital. The massive bet signals growing investor trust in the TON ecosystem as it aims to democratize th...
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