Toncoin Rallies 69% in 3 Days... Explodes on Telegram's Announcement

▲ Toncoin (TON)

Toncoin (TON) surged over 69% in just three days following news of Telegram's validator expansion, outperforming major cryptocurrencies and fueling speculative fervor in the market with a sharp increase in social media interest.

According to the cryptocurrency media outlet U.Today on May 6 (local time), Toncoin showed the strongest upward trend among major cryptocurrencies after Telegram founder and CEO Pavel Durov revealed plans to expand Telegram's role in the TON network. Amidst a broader cryptocurrency market rebound, the surge in TON was attributed primarily to expectations surrounding Telegram-related news.

Durov recently announced plans for Telegram to potentially replace the TON Foundation. He stated that Telegram would expand its role in TON network validation and protocol direction, aiming to become the network's largest validator. Following this announcement, TON rose from around $1.30 on May 3 to over $2.30 at the time of writing.

TON's price increase exceeded 69% in approximately three days. U.Today reported that while the overall cryptocurrency market is on an upward trend, TON's explosive rise was primarily driven by the anticipation surrounding Telegram's announcement. TON significantly outpaced the growth rates of the top 10 cryptocurrencies by market capitalization.

Durov also confirmed plans for Telegram to take on validation and protocol direction while simultaneously reducing transaction fees by approximately one-sixth. According to CoinMarketCap data, TON surged over 28% in 24 hours, with its price at $2.41 at the time of writing.

Along with the price surge, TON-related social activity also rapidly increased. According to Santiment data, TON mentions surged to 91 instances in just four hours on May 5. U.Today stated that the anticipation of Telegram integration simultaneously boosted price and social metrics, spreading market interest in TON.

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