What to Know
- Max Crown appointed new CEO and President to lead TON into its next growth phase.
- Toncoin’s Gifts Mania surges with 350K wallets trading and over $4.7M in sales during July.
- TON DeFi volumes doubled, NFTs hit record highs, and U.S. wallet expansion signals growth.
Toncoin (TON) is getting a new boost. The TON Foundation has named Maximilian “Max” Crown, a co-founder of MoonPay and a seasoned fintech executive, as its new president & CEO. His background scaling global payments infrastructure and strong connections with banks and regulators bring much-needed credibility and a strategic edge as TON seeks deeper adoption, especially via its integration with Telegram. Following this U.S. venture capital companies invested $400 million, indicating that institutional confidence in Toncoin is growing.
“It’s an honour to take on this expanded role and continue building on the incredible foundation Manny helped establish,” said Crown. “It reflects the Foundation’s full confidence in our shared vision: to place TON at the heart of a decentralized future spanning finance, gaming, digital ownership, and more. I’m excited to lead this next chapter alongside our community and partners.”
Toncoin’s DeFi Boom
TON’s recent “Gifts Mania” has gotten a lot of attention from the general public. More than 350,040 different wallets have traded gifts, and 1,420,906 users own at least one plush Pepe. In July, there were more than $4.7 million in sales. This wave of collectible trading shows how deeply people are involved and how much they want to be part of the community.
The volume of DeFi trades rose by 97% from June to $345 million. Daily NFT volume hit $3.5 million, taking only 3-5 seconds to finish a transaction, which was 10x faster than before. Builders did well too: 42 new mini-apps were added, more than 120,000 users signed up for new TON Mini Apps, and 202 projects joined the TON Builders Portal.
As of the middle of 2025, there were more than 150 million accounts on TON. There were about 2 million daily active users and 2 million monthly active wallets, which are good numbers for a layer-1 blockchain. DeFi activity on TON doubled from month to month, reaching $345 million in trading volume. At the same time, TVL rose on lending and DEX platforms. TON stayed one of the top three blockchains in the world for NFTs, with $1.5 million in daily trading volume.
Market Sentiment
Despite all this, Toncoin dropped 0.5% in the last 24 hours, trailing behind Bitcoin and Ethereum amid risk-off sentiment and Federal Reserve caution ahead of Powell’s Jackson Hole speech.
Other short-term headwinds include $1 million in outflows even as other crypto funds attracted billions in inflows or lack thereof for TON. Right now, it is below important support levels like the 50-day SMA ($3.25) and the 38.2% Fibonacci retracement (around $3.47). The RSI is at about 43, which means it’s neutral, but the MACD is still bearish. $3.10 is the next level to watch, and for a bullish reversal to happen, $3.57 would have to be regained.
Ecosystem Highlights
In July, TON went viral when music legend Snoop Dogg launched his first Telegram Gifts collection in collaboration with Pavel Durov. Nearly 996,000 NFTs sold out in 37 minutes, generating $12 million in sales and pushing Telegram’s Stars volume from ~$400K to as high as $2.5M per day. The TON Wallet officially launched in the US, giving more people access and adding new features and branding. On the business side, Crypto.com Custody started supporting TON, which shows that trust is growing among enterprise-grade platforms.
On X, Pavel Durov wrote, “When people have direct ownership over their digital assets, magic happens.” His endorsement reinforces TON’s mission to give users sovereignty over their digital identities, free from middlemen or confiscation.
Conclusion
The rate at which the TON ecosystem is growing is remarkable. TON is establishing itself as more than just another blockchain, thanks to Max Crown’s leadership of the TON Foundation, momentum from viral cultural events, and quick infrastructural advances from speedier transactions to expanding DeFi and NFT activity. Toncoin’s move from a specialized cryptocurrency asset to a global economy layer is made possible by its strong integration with Telegram’s 1 billion+ user base, which offers a special route to widespread acceptance.
