AlphaTON adds $30M in Toncoin to balance sheet amid price decline

Two Nasdaq-listed DATs are investing in The Open Network's native token, allocating millions to token reserves even as the asset and their share prices decline.

Another publicly listed company is moving into the digital asset treasury market, targeting exposure to The Open Network native coin, even as the token’s price continues to slump.

In a Thursday announcement, AlphaTON, formerly Portage Biotech, said it purchased $30 million worth of Toncoin (TON) tokens as part of its crypto accumulation strategy. The token is down roughly 13% over the past month.

With the purchase, AlphaTON became the second Toncoin-focused digital asset treasury (DAT), joining TON Strategy Co., which rebranded from Verb Technology Company in August.

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