TLDR

• CoinShares launched a new exchange-traded product called CoinShares Physical Staked Toncoin (CTON) on Switzerland’s SIX exchange, offering 2% staking yield to investors.
• Toncoin’s market cap has dropped 59% year-to-date to $5.7 billion, even as the token is integrated with Telegram’s 900+ million active users.
• The new ETP allows trades in US dollars and generates automatic yield from network validation rewards on The Open Network blockchain.
• Wallet in Telegram introduced tokenized stocks and ETFs through xStocks, expanding the platform’s financial services beyond cryptocurrency.
• Toncoin rose 5% to $2.30 following the announcements and currently trades around $2.25 with a 24-hour trading volume of $183.39 million.

CoinShares International launched a new investment product for Toncoin on Tuesday. The CoinShares Physical Staked Toncoin began trading on Switzerland’s SIX exchange under the ticker CTON.

The product offers investors exposure to Toncoin with a 2% staking yield. Trades are available in US dollars through the European exchange.

Toncoin serves as the native cryptocurrency of The Open Network. This blockchain platform connects closely with the Telegram messaging app.

The launch comes during a difficult year for Toncoin. The token’s market cap has fallen 59% year-to-date to $5.7 billion according to CoinGecko data.

CoinShares highlighted Telegram’s user base of over 900 million active users in their announcement. The company also pointed to TON’s transaction capacity of more than 104,000 transactions per second.

The new ETP generates automatic yield through network validation rewards. This marks CoinShares’ second product offering TON exposure to investors.

Toncoin Already Available in Multi-Asset Fund

TON appears in the CoinShares Altcoins ETF (DIME) that launched in October. This US-traded product includes multiple cryptocurrencies including Solana, Polkadot, Cardano, and Cosmos.

The timing coincides with Wallet in Telegram’s expansion into traditional assets. The third-party crypto wallet app on Telegram now offers tokenized stocks and ETFs through xStocks.

Wallet in Telegram announced Monday it would provide 50 tokenized shares and ETFs. Some of these offerings include dividends for holders.

Toncoin reacted to the news with a 5% price increase to $2.30 on Tuesday. The token currently trades around $2.25 according to recent market data.

Price Action Shows Modest Recovery

Recent 24-hour trading data shows Toncoin moving between $2.22 and $2.28. Late-session buying pushed prices toward the higher end of this range.

The token’s market cap stands at $5.67 billion with a 1.36% increase. Trading volume reached $183.39 million in the past 24 hours, up 18.6%.

Toncoin has 2.52 billion tokens in circulation out of a total supply of 5.14 billion. The volume-to-market-cap ratio sits at 3.22%.

The token ranks as the 35th-largest cryptocurrency by market value. Support appears at $2.22 while resistance shows around $2.28 to $2.30.

The Open Network continues expanding its ecosystem within Telegram. TON-based payments and decentralized applications have seen gradual adoption increases.

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