The Open Network's TON Token Is Making a Strong Recovery, Defying Recent Market Odds

This resurgence largely follows Telegram founder Pavel Durov revealing major investments into the project from top Silicon Valley VC firms.

In the rapidly evolving landscape of cryptocurrency, tokens often face an uphill battle to recover from prolonged downtrends, especially after nearly 100% of holders fall into losses. However, Open Network’s (TON) token has defied the odds, staging a remarkable comeback from a deep bear market.

After a sustained downturn pushed the token to lows not seen since its initial coin offering (ICO) in early 2021, on-chain data reveals a surprising shift. After a period where nearly all TON holders were at a loss, the latest data from IntoTheBlock indicates that about 10% of ATOM holders are now back in the green.

This development has introduced a new wave of bullish interest in the Telegram-linked token, which has recently come under scrutiny for a lack of new users on its platform.

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.

“We're grateful to have such renowned investors join the Open Network,” Durov said.

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.

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Adding to the market optimism, on-chain data provider IntoTheBlock reported over 1.1 million TON tokens were withdrawn from tracked exchanges just yesterday. Such large-scale outflows often suggest investors are moving tokens into private custody for longer-term holding, a sign of accumulation.

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.