- The Abu Dhabi firm builds TON blockchain apps, including Telegram’s official crypto wallet currently active in Asia/Russia.
- TOP will incubate TON-based gaming/AI projects, leveraging Telegram’s 900M users to accelerate crypto adoption globally.
The Open Platform (TOP) completed an extended Series A funding round, raising $28.5 million. This investment values the company at $1 billion. Venture capital firms Ribbit Capital and Pantera Capital led the financing.
We’re proud to become the first unicorn in Web3 ecosystem in Telegram, reaching a $1B valuation in the latest equity funding round.
This milestone was made possible thanks to trust of @RibbitCapital and @PanteraCapital.
“This investment supports our long-term strategy to scale… pic.twitter.com/VCUC1TcXTS
— The Open Platform (@topdotco) July 3, 2025
TOP develops applications for the TON blockchain ecosystem. Its primary product is Wallet in Telegram, the official cryptocurrency wallet integrated within Telegram’s messaging platform. The wallet currently operates in Russia and parts of Asia.
CEO Andrew Rogozov confirmed the transaction involved equity only—no tokens were issued. Investors acquired approximately 5% ownership in TOP through this round. The Abu Dhabi-based company has now raised over $70 million total across funding stages.
Proceeds will finance Wallet in Telegram’s expansion into the United States, European Union, and additional markets. Regulatory licensing, compliance infrastructure, and market-entry strategies represent core priorities for this rollout. Funding also supports incubation of new TON-based projects, including blockchain gaming applications and artificial intelligence tools.
Rogozov stated:
This investment supports our long-term strategy to scale blockchain product adoption using Telegram’s distribution power. Combining TON’s technology with Telegram’s global
Toncoin (TON) is trading at $2.871 USDT, showing a modest +0.21% daily gain, with a weekly increase of +1.27%.
However, TON continues to reflect a significant −10.76% monthly drop, and long-term metrics remain bearish: −47.86% year-to-date, and −64.63% over the last 12 months, positioning it as one of the more volatile Layer-1 assets in the current cycle.
From a technical standpoint, TON is currently consolidating within a macro descending channel, but multiple recent reversals suggest the formation of a double bottom pattern between $2.60–$2.80.
Price is now attempting to break out above the minor resistance near $2.90, and a confirmed move above $3.10 could initiate a short-term rally toward $3.30–$3.50. If support at $2.80 fails, the next downside target is $2.50.
Key recent developments and news:
- TON is entering a critical accumulation phase, with analysts identifying the “Golden Accumulation Zone” between $2.30–$2.85 as a major long-term support. Bullish reversals from this area have historically led to rallies.
- The project continues its tight integration with Telegram, which maintains over 900M monthly users. TON is being positioned as Telegram’s default Layer-1 blockchain for payments, mini apps, and bots—making it a high-potential Web3 infrastructure layer.
- At EthCC 2025 (June 30–July 3), TON developers are expected to unveil ecosystem updates focused on DeFi, including cross-chain bridges and a new incentive program targeting stablecoin liquidity.
- Open interest on TON perpetual contracts has surged, signaling renewed trader appetite and increasing the likelihood of a volatility spike in early July.
- TON’s recent “Builder Calls” have focused on DeFi onboarding and modular tooling, suggesting that the next growth wave may be driven by native dApps and external integrations beyond Telegram.
Toncoin is currently testing structural support in a high-volume accumulation range. A successful breakout above $3.10 could flip sentiment bullish, while macro risks and lack of sustained ecosystem traction still weigh on long-term investor confidence.
