Telegram Directly Backs It... Toncoin's Massive Explosion Signal

▲ Toncoin (TON) ©

Toncoin (TON) surged over 20% in a single day, recording the strongest upward trend among top market cap coins.

According to cryptocurrency media Watcher.Guru on May 5 (local time), Toncoin rose 23.5% in the last 24 hours, recording weekly gains of 31.3%, 14-day gains of 26.3%, and monthly gains of 38.5%. This is the highest short-term increase among the top 100 projects by market capitalization.

The key drivers behind this surge are the sharp drop in network fees and anticipation of technical updates. Telegram founder Pavel Durov recently stated in a post that TON network fees have decreased by nearly six times, effectively reaching 'almost zero'. Furthermore, the upcoming release of new developer tools and performance upgrades within the next 2-3 weeks has stimulated investor sentiment.

Additionally, Telegram's plan to replace the TON Foundation and assume the role of the largest validator is cited as a factor that boosted market expectations. The potential for the project's actual leadership to shift to a global messenger platform has been highlighted, reflecting expectations for network scalability.

Bitcoin (BTC) recovering to $81,000 during the day also contributed to the rise. Analysis suggests that as overall market risk appetite improved and major altcoins rose concurrently, TON reacted most strongly.

However, volatility risks still exist. Toncoin has a history of falling almost 80% after reaching an all-time high of $8.25 in June 2024, so the possibility of a price correction after a short-term surge cannot be ruled out. The market suggests that an approach considering both upward momentum and the characteristics of a high-risk asset is necessary.

*Disclaimer: This article is for investment reference only and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*