Toncoin (TON) Price: You Can Now Trade Tesla and Apple Stocks in Your Wallet

TLDR

• Toncoin price trades around $1.45 after hitting a two-month low of $1.42 on Thursday
• xStocks launched on TON blockchain, allowing users to hold tokenized US equities like Apple, Tesla, and Microsoft in their wallets
• The platform is now integrated with TON Wallet, Tonkeeper, and MyTONWallet, eliminating the need for separate brokerage accounts
• Technical indicators show bearish momentum with RSI at 34 and negative funding rates on derivatives
• xStocks has accumulated over $180 million in assets on-chain across nearly 50,000 wallet addresses

Toncoin trades near $1.45 on Friday after reaching a two-month low of $1.42 the previous day. The price decline continues despite major developments on the network.

xStocks launched on the TON blockchain on Thursday. The Kraken-owned platform now allows users to hold tokenized versions of US stocks directly in their wallets.

Users can now trade stocks from major companies including Apple, Tesla, Microsoft, and Nvidia. These tokenized equities work across TON Wallet, Tonkeeper, and MyTONWallet.

The integration eliminates the need for separate trading apps or brokerage accounts. Users can buy, hold, and transfer these tokenized stocks with the same ease as sending cryptocurrency.

TON Foundation CEO Max Crown called the launch a major advancement for real-world asset adoption. He said it delivers tangible financial utility to everyday users.

The platform marks TON as the third blockchain to host xStocks. The service already operates on Ethereum and Solana networks.

Since launching in late June through a partnership between Kraken and Backed Finance, xStocks has grown rapidly. The platform has accumulated over $180 million in assets on-chain across nearly 50,000 unique wallet addresses.

Market Conditions Show Weakness

Despite the positive development, Toncoin dropped nearly 3% on Thursday. The price action reflects continued bearish pressure in the market.

Technical indicators point to further downside risk. The Relative Strength Index sits at 34, below the neutral level of 50.

The Moving Average Convergence Divergence indicator showed a bearish crossover on Wednesday. This signal typically precedes further price declines.

Derivatives data supports the negative outlook. The OI-Weighted Funding Rate turned negative on Friday, down 0.011%. This means short sellers are paying long position holders.

Price Levels and Trading Activity

The long-to-short ratio for TON reached 0.36 on Friday, the highest level in a month. A ratio below one indicates traders expect prices to fall.

Toncoin was rejected from the upper trendline of a falling wedge pattern on December 10. The price has declined nearly 14% since that rejection.

If the downward trend continues, the next support level sits at $1.31. On the upside, recovery could push the price toward the 50-day exponential moving average at $1.76.

Kraken co-CEO Arjun Sethi said millions of people now have on-chain access to US equities inside Telegram. He described this as the real promise of tokenization.

The exchange is working to acquire Backed Finance to unify the issuance, trading, and settlement of tokenized equities on xStocks. This acquisition is part of Kraken’s broader expansion strategy.

Telegram’s Wallet initially launched stocks and ETFs in late October. The feature was available to users in select countries and generated strong interest.

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