Tether’s TON Integration Pushes USDT Deeper Into Telegram’s Crypto Economy is the kind of crypto story that looks simple at headline level but becomes more useful once you place it inside the wider market backdrop. Stablecoin adoption ofte
Toncoin (TON) roared higher on Monday, climbing about 11% and pushing above roughly $2.30 earlier in the day before cooling slightly. The jump came after Telegram founder and CEO Pavel Durov announced that The Open Network’s native token will be renamed from Toncoin to “Gram” over the next three weeks. TON Shift To ‘Gram’ Durov said the rebranding is more than marketing. “TON’s native currency is becoming Gram,” he wrote, adding that “Gram was the original name of TON’s currency in the first white paper.” In his message, he described the move as a return to the network’s roots and the start of what he called “a new chapter.” He also framed the rename as “step 4 of 7 to Make TON Great Again,” referring to a broader roadmap he has disclosed in his personal Telegram channel since May. Durov stated that the blockchain will remain called TON, and that the three-week transition will not require holders, validators, or DeFi integrations to take action. Existing TON balances, he said, will continue to function normally and will trade under the GRAM ticker once exchanges and wallets update their systems. Related Reading: BNB Extended Price Target Says $780 Is Coming, But What About $1,000? As reported by The Defiant, the Gram label carries the heaviest legal baggage in TON’s timeline. Telegram previously raised about $1.7 billion in two presale rounds in 2018 for “Gram” tokens that were never ultimately issued. Later, in October 2019, the US Securities and Exchange Commission (SEC) obtained an emergency action halting the offering, describing it as an unregistered securities sale. The legal fallout continued into a later resolution. A settlement reached in June 2020 required Telegram to return $1.2 billion to investors and pay an $18.5 million penalty. Three More Steps Coming Durov’s announcement also points to “step 4” as part of a sequence of upgrades he pushed through after taking over validator responsibilities in May. Under those earlier steps, the network rolled out Catchain 2.0, aimed at enabling sub-second block finality. Durov also highlighted Telegram’s role in validation, saying that Telegram itself became the network’s largest validator with millions of tokens staked via the messenger’s own infrastructure. Related Reading: Pundit Shares Why Most People Will Miss The XRP Run Still, there is more to come. Durov said three additional steps remain in his seven-step roadmap, though he has not publicly outlined what those steps will involve. Since Durov’s announcement earlier in the day, TON trades at $2.11 at the time of writing. Even with the pullback, the token is still showing major gains—up about 56% over the monthly period—though it remains roughly 75% below its all-time high of $8.25. Featured image created with OpenArt; chart from TradingView.com
The Gram rebrand follows network upgrades, fee cuts, and Telegram's push for a larger role in TON governance.
A user lost 6,000 XRP after falling for a scheme that promised to double their funds. That case is one of several being reported as scammers step up their efforts against XRP Ledger users, prompting a public warning from Ripple’s former chief technology officer. Related Reading: Bitcoin Faces Major Test As 37% Recovery Collides With Bear Resistance Fake Offers Hiding In Plain Sight David Schwartz, known online as JoelKatz, posted the alert on X after what he described as a sharp rise in fake airdrop and giveaway activity. He warned that nearly all such offers seen across social platforms are fraudulent, and that anyone claiming to be him on Instagram, Telegram, or similar apps is almost certainly running a scam. The warning came alongside reports from others in the XRP space. XRPL blockchain explorer Bithomp flagged a specific trick where scammers send unsolicited NFTs to user wallets. SCAM ALERT: There has been a huge escalation lately in airdrop and giveaway scams targetting XRPL users lately. Any such posts you see are likely scams. Anyone claiming to be me on Instagram, Telegram, or almost anywhere else is likely a scammer. Stay safe XRP fam. — David ‘JoelKatz’ Schwartz (@JoelKatz) May 14, 2026 The NFTs carry misleading messages — one example read “Verification: Safe XRPL verify message” — and are paired with hidden Buy Offers. When a user signs or accepts the offer, their XRP or other assets can be drained immediately. Wietse Wind from the Xaman wallet team has also urged users to cancel any unknown offers without delay. What Scammers Are Actually Doing The methods are not complex but they are effective. Scammers build fake social media profiles impersonating Schwartz, Ripple CEO Brad Garlinghouse, and projects tied to the XRPL. One fake Schwartz profile on Instagram was flagged by a community member last month and reported to the platform. Phishing plays a large role too. Fraudulent websites prompt users to connect their wallets or approve transactions under the guise of claiming rewards. Once done, the wallet is emptied. Some operations still use the oldest trick in the book — asking users to send XRP first with the promise of receiving more back. The scams are not exploiting flaws in the XRP Ledger itself. They rely entirely on deceiving people. Be aware of new scams on the #XRPL. Scammers are tricking users into signing NFT Buy Offers with misleading memos like: “Verification: Safe XRPL verify message.” Those offers can get accepted and drain huge amounts of $XRP. Always double-check: – what transaction type you are… pic.twitter.com/nNl6Mj4Ryl — Bithomp (@bithomp) May 11, 2026 Related Reading: XRP Bulls Gain Momentum As ETF Inflows Reach Multi-Month High Protect Your Wallet Before It’s Too Late Schwartz made clear that no legitimate organization runs surprise giveaways or asks users to send funds, share private keys, or reveal seed phrases. His verified X account is the only place users should look for communication from him. For protection, users are advised to avoid unknown links, refuse to connect wallets to unverified websites, and report suspicious accounts. Tools from Bithomp and Xaman can help users review and cancel pending offers before any damage is done. Acting fast after a scam occurs may limit losses, but full recovery is rarely possible. Featured image from Unsplash, chart from TradingView
Solana is showing a mixed outlook as it stabilizes around a key technical level while underlying network activity continues to soften. Price action has found a firm footing near the $84 support zone, helping to preserve the broader bullish structure and limit downside pressure for now. Market Structure Remains Strong Despite Engagement Drop Solana is holding a critical level that could define its next major move. An analyst known as Venture on X highlighted that SOL is currently at the support-resistance (SR) level around $84, and the structure suggests there is little reason for the price to break below it. Once momentum shifts, price could quickly move through nearby value areas, and the structure below has effectively turned into a defensive base. Related Reading: Solana (SOL) Hits Key Support, Will Bulls Hold the Line? Looking at the broader macro, this structure aligns with a major SR level that previously held firm, even as calls for a deeper 70% correction circulated. The current structure on the chart shows that the SOL price will not go lower until it loses its current level, and the money flow data will shift back to negative. In this context, SOL is behaving similarly to other cryptocurrencies that form a positive daily phase, often associated with mid-cycle pivots. With multiple technical factors aligning, the current setup is being viewed as a low-risk, high-reward long opportunity, as long as key levels continue to hold. What This Downtrend Means For Solana’s Market Position Solana is showing a striking divergence between network activity and market sentiment. Santiment Intelligence on X has noted that the SOL weekly active addresses have fallen sharply from around 5.01 million in early February to approximately 2.89 million in the latest data. Fewer wallets are actively transferring SOL, suggesting reduced usage at a time when the asset has largely stagnated in price. Related Reading: Solana Ecosystem Boom: Network Sees Massive Growth In Stablecoin Active Users At the same time, sentiment toward SOL platforms has surged to its highest level since January. Bullish commentary now significantly outweighs bearish views, with roughly 3.2 positive mentions for every negative one across X, Reddit, Telegram, and other platforms. The narrative gaining traction is that SOL may be primed for a breakout, especially after underperforming Bitcoin and other major assets, potentially benefiting from a mean reversion. However, the key question remains whether SOL can validate the bullish outlook, which will likely depend on its network’s ability to reverse the current decline in activity and reestablish meaningful on-chain utility. The founders of morecryptoonlv, known as MCO Global on X, have also pointed out that Solana is attempting to track the upward momentum of Bitcoin, with its broader wave structure still intact. From a technical standpoint, the current setup remains constructive, and the price needs to hold the signal line at $85.50 to maintain bullish momentum. Featured image from Freepik, chart from Tradingview.com
Toncoin extended its rally on Wednesday, climbing to a new local high of $2.215 and bringing its three-day gain to more than 60%, as traders continued to price in Telegram’s deeper role in The Open Network. With the move, TON reaches it highest price since mid-November last year following fresh comments from Telegram founder Pavel Durov, who argued that Telegram becoming TON’s largest validator would strengthen decentralization rather than weaken it. The rally marks TON’s sharpest short-term moves this year. Market data showed Toncoin trading near the $2.10–$2.20 zone on Wednesday, with Kraken listing a 24-hour high of $2.20 and OKX showing TON at $2.215 earlier in the session. The token remains well below its prior all-time high near $8.25, but the latest move has quickly reset near-term market structure after months of muted price action. Durov Post Fuels Toncoin Rally Durov’s latest post on X added a new layer to the market narrative. On May 5, he said Telegram becoming TON’s largest validator “strengthens decentralization.” He wrote: “Telegram becoming TON’s largest validator strengthens decentralization. It lets other major players join the validator pool without centralizing the network — with Telegram as the counterbalance. More and more TON gets locked in validation as everyone competes for 20%+ APR.” Related Reading: TON Jumps 30% As Durov Says Telegram Will Take The Lead That statement came shortly after Durov said on May 4 Telegram would replace the TON Foundation as the main driving force behind TON and become the network’s largest validator. In the same post, he said TON fees had dropped sixfold “to nearly zero,” while a new TON website, new developer tools and performance upgrades were expected within two to three weeks. For the market, the timing matters. TON’s rally did not begin with a generic ecosystem update. It followed a direct Telegram-led roadmap: lower fees, stronger infrastructure, better developer tooling and a validator shift that ties the network more closely to the messaging platform’s distribution. Related Reading: Top Toncoin Whales Silently Accumulate 189,730 TON Despite Market Weakness The key debate now is whether Telegram’s larger role makes TON more credible or more centralized. On paper, becoming the largest validator gives Telegram greater influence over the network’s security layer. In a proof-of-stake system, validators help maintain network stability and security by committing large amounts of the native token. TON’s own documentation describes validators and nominator pools as core parts of the network’s security model. Thus, the optics are complicated. TON was originally created as the Telegram Open Network before later moving into a more independent foundation-led structure. Toncoin as the native cryptocurrency of The Open Network was originally developed in 2018 and later transitioned to the TON Foundation. Telegram now moving back into the central operational role represents a major shift in how the market is likely to assess TON’s governance and execution risk. At press time, TON traded at $2.263. Featured image created with DALL.E, chart from TradingView.com
The market is repricing TON as a Telegram-led ecosystem again, not just a foundation-run chain with a messaging app narrative attached.
Toncoin surged sharply after Pavel Durov said Telegram will replace the TON Foundation as the main driving force behind The Open Network and become its largest validator, marking the messaging platform’s most explicit operational step back into the blockchain it originally launched. TON climbed from roughly $1.35 to about $1.80 in the move, an increase of around 30%, with CoinMarketCap ranking it among the top 20 crypto assets by market capitalization during the rally. Durov Puts Telegram Back At The Center Of TON The immediate trigger was a post from Durov on May 4, who framed the move as the next phase of TON’s technical roadmap after a major reduction in network fees. “Fees in TON have dropped 6× — to nearly zero. Next step — Telegram replaces the TON Foundation as the driving force behind TON and becomes its largest validator. The focus shifts to tech superiority,” Durov wrote. Related Reading: Top Toncoin Whales Silently Accumulate 189,730 TON Despite Market Weakness He added that the network is expected to receive a “new ton.org, new dev tools, new performance upgrades,” with a stated timeline of “2-3 weeks.” That combination of lower fees, validator participation and developer-facing upgrades gave traders a clear catalyst after TON had spent much of late April trading close to the $1.30 range. The statement also narrows the distinction between Telegram as a distribution platform and TON as a blockchain ecosystem. TON’s strongest strategic asset has long been proximity to Telegram’s user base, but Durov’s language suggests a more direct role for the company in execution, infrastructure and ecosystem signaling. The fee cut had already been telegraphed in late April. On April 23, Durov said TON fees would fall sixfold within a week, to “just 0.00039 TON” per transaction, fixed regardless of network load. He also said most transactions would “soon after” become fully feeless. That fee structure matters because TON’s core commercial pitch is not only speculative settlement, but high-frequency consumer activity inside Telegram. In January 2025, the TON Foundation said TON would become the exclusive blockchain infrastructure for Telegram’s Mini App ecosystem, supporting a platform it described as reaching more than 950 million monthly active users. Related Reading: Toncoin Faces Crucial At The $1 Range, Will It Hold Or Break? The same announcement said Telegram would continue accepting Toncoin as the only cryptocurrency for non-fiat payments across platform services such as Telegram Stars, Premium, Ads and Gateway, while also using Toncoin to pay Mini App developers and channel owners for earned Stars and ad revenue. TON’s history gives the announcement additional weight. Telegram originally developed the Telegram Open Network under Pavel and Nikolai Durov, before the project was halted after US Securities and Exchange Commission action over the sale of Gram tokens. In June 2020, the SEC said Telegram and TON Issuer agreed to return more than $1.2 billion to investors and pay an $18.5 million civil penalty to settle charges tied to an unregistered digital token offering. After Telegram stepped away, the network continued through community-led development under The Open Network brand. Telegram later rebuilt links to TON through product integrations, payments and Mini Apps. Durov’s latest statement is significant because it presents the next phase not as a partnership expansion, but as a leadership shift. At press time, TON traded at $1.806. Featured image created with DALL.E, chart from TradingView.com
Users can fund a dedicated wallet for an agent, which can then execute on-chain actions like transfers, swaps, and DeFi activity.
In addition to its sizable TON token treasury, AlphaTON is also focused on supporting Telegram's native decentralized AI platform, Cocoon.
TON, the Telegram-focused blockchain, said the network upgrade will deliver sub-second finality on mainnet starting April 10.
Recent market dynamics, most especially the launch of Spot Dogecoin ETFs, have seen Dogecoin slowly transitioning out of its meme coin status. Notably, a crypto pundit on X is of the notion that the transition is now at a tipping point. According to the pundit, there are three major reasons as to how Dogecoin could transition from a speculative asset into something far more functional as real money. If this plays out, the analyst believes Dogecoin’s price could rise from around $0.30 to $1.20 in a short time. Network Activation Through X Dogecoin has always been linked as a possible payment method on the social media platform X, and this is mostly due to Elon Musk’s public support for the cryptocurrency and his ambition to turn X into a combined financial and social platform. Related Reading: Dogecoin Vs. Shiba Inu: What Meme Coin Should You Buy For Most Returns In 2026? According to crypto pundit Sean Park on X, the scale of a potential integration as a payment method on X is the first way in which Dogecoin transitions into real money. This outlook is based on the upcoming X payments beta and the ambitions of Elon Musk’s ecosystem, including X, xAI, and SpaceX. If Dogecoin is introduced as a native or primary payment option, then it could become the beginning of what would become the greatest bullish phase for the meme coin. This means that deeper payment integration could strengthen user engagement, transaction data, and AI model training. Integrating DOGE as X’s native payment coin would activate the meme coin community, creating a cascade of “pay with DOGE” activity across the platform. Interestingly, Dogecoin’s fees are about one-tenth of competing networks like Solana or Ethereum, meaning users who try it once tend to keep using it. That surge in activity will ultimately generate a mountain of real-world transaction data. The result creates an effect where xAI grows smarter and more valuable at the same time X becomes stickier, locking out rivals like Google from the space. Two wins from one move, and without it, the analyst contends, an IPO at the $1.75 trillion target for X will be impossible. Infrastructure, Stablecoin Integration, And Competitive Timing The second reason is based on recent regulatory clarity from the US Securities and Exchange Commission, specifically an FAQ issued by SEC Commissioner Hester Peirce, regarding the way for easy swaps between US dollars and cryptocurrencies like Dogecoin. Stablecoins are expected to be fully integrated across major platforms by May or June 2026, and this is projected to create a system where USD-DOGE swaps become instant. Related Reading: This Analyst Predicted The Dogecoin Price Crash, But There’s More To The Forecast The third reason, which is perhaps the most urgent, has more to do with which social media platform becomes the go-to money app. The most pressure is coming from Telegram, which is building out its TON blockchain-based payment ecosystem. Without a native payment coin, X will remain, as the pundit puts it bluntly, “just a tweet place.” Adding Dogecoin changes the platform’s fundamental identity from a social network to a financial hub. The Dogecoin fanbase, which is already one of the most vocal and engaged communities in crypto, would become X’s de facto marketing army, spreading the social media platform’s adoption organically. Featured image from Pixabay, chart from Tradingview.com
TON Wallet is shifting from simple self-custody into a gateway for third-party DeFi yield strategies.
AlphaTON is growing into a large early infrastructure contributor to Cocoon AI as it deploys GPUs under a $46M compute investment.
The Telegram CEO may stand as the most pivotal figure in the bona fide mass adoption of cryptocurrency.
A Solidus Labs investigation details how an invite-only Telegram group used bots, fake narratives and rapid token deployments across Solana and BNB Chain to manipulate markets.
Telegram is taking another step toward bridging traditional finance with crypto. Through a new partnership among Wallet in Telegram, xStocks operator Backed, and US-based crypto exchange Kraken, tokenized equities will soon be available directly within the messaging platform. The announcement, made on Wednesday, confirms that users will gain access to tokenized versions of US equities. Related Reading: Metaplanet Expands Bitcoin Holdings To Over 30K BTC – Details Wallet in Telegram, a third-party crypto wallet app integrated into the Telegram ecosystem, will serve as the gateway for this new offering. By leveraging xStocks, which specializes in tokenized assets, and Kraken’s infrastructure, the platform aims to deliver seamless trading of tokenized stocks and ETFs. Users will be able to purchase fractions of these equities in digital form, opening access to markets that are typically less inclusive. This move represents a significant evolution in Telegram’s crypto ecosystem, expanding beyond digital assets into the tokenization of traditional securities. It also underscores the growing role of tokenized finance in making equities more accessible, liquid, and tradable across global markets. With the launch planned for late October, investors are watching closely to see how Telegram’s massive user base responds to this new frontier. Wallet In Telegram Unlocks Tokenized Equities The news was shared by Wallet in Telegram’s chief strategy officer, Halil Mirakhmed, during Token2024 Singapore, highlighting the project’s mission to merge traditional financial markets with Web3 accessibility. At the same event, Max Crown, President & CEO of the TON Foundation, outlined the significance of the move in his keynote at Token2049. He emphasized that the partnership with xStocks, in collaboration with Kraken and Backed, will allow over 100 million Telegram users to access more than 60 tokenized US assets at launch. These will include major names such as Nvidia (NVDA), Tesla (TSLA), and MicroStrategy (MSTR), all backed by a 1:1 collateralization framework to ensure trust and transparency. One of the most notable features of this integration is fractional ownership, which enables users to purchase small portions of high-value stocks that might otherwise remain inaccessible. Trading will also be available 24 hours a day, five days a week, breaking away from the restrictions of traditional US market hours. This flexibility lowers barriers for global investors and represents a major step toward democratizing access to equities. Looking ahead, xStocks is set to become available on the TON blockchain in Q4, further cementing TON’s role as the foundation for Telegram’s growing financial ecosystem. By combining blockchain scalability, tokenization, and Telegram’s massive user base, the initiative has the potential to redefine how millions of people interact with traditional markets. Related Reading: Galaxy’s Digital Bitcoin Sales Continue: 1,190 Bitcoin Moves To Binance Toncoin Holds Support Amid Prolonged Downtrend Toncoin (TON) is trading around $2.80 after a modest rebound of nearly 3.6% on the 3-day chart. Despite the short-term bounce, the broader trend remains bearish, with TON locked in a prolonged downtrend since peaking above $8.50 in early 2024. Price has consistently posted lower highs and lower lows, signaling persistent selling pressure. The moving averages reinforce this picture. TON remains well below its 50-period (blue), 100-period (green), and 200-period (red) moving averages. The inability to reclaim these levels underscores weak momentum and the dominance of bears in the market. The $3.00 area has become a critical resistance zone; without a decisive break above it, TON risks further sideways or downward action. Related Reading: The Bitcoin Long: Bybit Traders Push BTC Taker Buy/Sell Ratio Above 24 Support continues to cluster near $2.50–$2.70, where buyers have stepped in repeatedly over the past months. A breakdown below this level could accelerate losses toward $2.00, while a successful defense may allow the token to consolidate and attempt another push higher. Featured image from ChatGPT, chart from TradingView.com
The company, which will operate under the ticker "ATON" starting Sept. 4, will manage TON network infrastructure, it said.
Telegram username @crypto, bought for $350,000, now commands a $25 million offer — showcasing the explosive rise of tokenized digital identities on the TON blockchain.
TON jumped 3% to $3.41 as Telegram began rolling out its integrated self-custodial wallet to 87 million U.S. users, enabling seamless crypto payments inside the app.
Hip Hop legend Snoop Dogg released a nearly 1 million non-fungible token (NFT) collection on Telegram, which sold out in minutes. The launch created massive interest online and raised over $10 million in sales. Related Reading: Bitcoin Back In ‘Retesting Phase’ After Key Level Reclaim – The Calm Before The Storm? Snoop Dogg’s Telegram Drop Raises $12 Million On Wednesday, Snoop Dogg launched digital collectibles on Telegram, igniting an NFT frenzy on the platform. The collection offered unique NFTs inspired by the rapper’s style, including multiple marijuana-themed collectibles, anthropomorphic beagles, and vintage cars. The drop is part of Telegram’s Collectible Gifts, unique works of art on the platform that can be displayed on profiles and have special attributes. As the website explains, the collectibles can be transferred between users or auctioned on NFT marketplaces. Telegram’s founder, Pavel Durov, revealed that the Snoop Dogg drop sold out in 30 minutes, selling 996,000 NFTs for $12 million, adding that “Blockchain minting and the secondary market go live in 21 days. It’s going to be wild.” Last week, Durov shared that the 4th of July-themed Gifts also sold out within minutes, with over 800,000 collectibles selling in 10 minutes. Amid the collectibles’ launch, the rapper promoted it alongside a new track titled “Gifts” on his official Telegram Channel. He shared the link to the song’s music video and tagged Durov’s Telegram channel, saying, “time to drop it like it’s hot.” In the track, Snoop Dogg shouts out Toncoin (TON), the native token of the TON Blockchain, and Telegram. “Plug in my phone, get dressed, and then I plot my play / Critical existence, digital resistance / Shifted, gifted, and lifted / (…) / Stickers and games on Telegram, guess it’s coming soon / My privacy is not for sale,” some of the lyrics read. Notably, this isn’t the rapper’s first NFT venture, as he entered the space when the sector first gained mainstream popularity in 2021 and dropped collections in 2022 and 2023. NFT Mania Making A Comeback? On X, NFT lead at the TON blockchain, Zenith highlighted the drop’s success, as some of the supply gifts sold out in less than 2 minutes. He explained that Telegram gifts have had a peak market capitalization of over $200 million and a trading volume of $122 million since their launch. According to the post, the first OG collection, the Plush Pepe, now has a floor price of 4,200 TON, worth $11,886. “They are NFT Collectibles that are on the TON Blockchain and inside of Telegram!” he noted. To Zenith, this could be the start of a new NFT narrative, adding that they “would not be surprised if other famous brands or web3 IPs would want to launch some gifts too!” However, they pointed out that it could also mean nothing for the sector. In a recent report, DappRadar shared that Q2 data revealed new narratives are emerging, while old ones are “making a comeback.” The report claims that “NFTs are becoming more affordable, but the interest hasn’t disappeared. On the contrary, it’s shifting in nature,” a trend the platform’s analysts have been observing “for a while.” Related Reading: Solana Ready For $160 Reclaim? Analysts Say Breakout Is A Matter Of Time Notably, NFT trading volume dropped by 45% in Q2, but sales increased by 78%. Meanwhile, the number of traders increased 20% from Q1, with an average of 668,598 monthly traders. “Taken together with the spike in sales, this suggests a slow but steady return of users to the NFT space, although likely for different motivations than in previous cycles,” the report concluded. Featured Image from Unsplash.com, Chart from TradingView.com
Stake $100K in Toncoin and pay a $35K fee for a UAE Golden Visa, says TON Foundation; community debates legitimacy and government support.
Disguised as a Zoom update, North Korean hackers use the new NimDoor malware to steal crypto and infiltrate crypto companies, researchers say.
Ravindra Kumar was fired as CEO of Binance-listed Self Chain after reports linked him to a $50 million Telegram OTC scam, which he has denied involvement in.
Affluent, which will be accessed as a mini app within Telegram, has debuted as a kind of "smart bank for crypto"
Telegram’s token faces headwinds despite showing signs of potential support formation on the short-term.
Toncoin (TON), the native token of The Open Network (TON), has climbed over 5% in the past 24 hours, signaling renewed market demand. This rebound comes on the heels of a broader market downturn that saw TON decline alongside other major cryptocurrencies late last week. Amidst these small-scale movements, crypto analyst Ali Martinez notes the altcoin appears to be preparing for a major price breakout. Related Reading: Bitcoin Price Trend Above $100,000: The Good News And The Bad News Toncoin Charts 40% Move As Triangle Hints At Breakout In an X post on May 31, Ali Martinez shares an insightful take on the TON market. Using the 4-hour trading chart, the expert analyst highlights that TON’s price movement over the past four months has created a symmetrical triangle pattern hinting at the strong potential of a major price breakout. The symmetrical triangle is a neutral chart pattern that reflects price compression due to the formation of higher lows and lower highs. Inherently, this chart pattern suggests neither the buyers or sellers are in affirmative control of the market, indicating there is much potential for a 40% price swing on either side. Currently, Toncoin trades around $3.16 following the recent price bounce. If market bulls force a breakout from the upper boundary around $3.28, the altcoin is expected to trade as high as $4.55-$4.65. Meanwhile, a breakdown at the lower boundary around $3.10 could result in a market price between $1.80-$1.90. Interestingly, TON’s relative strength index currently sits at 49.37 facing the upward direction which also suggests a neutral market while noting that bullish momentum is starting to build. A cross over 50 would provide bulls confirmation as TON makes its way to the overbought zone. Related Reading: Tron (TRX) Future Retail Activity Indicates More Gains Ahead – Analyst TON Market Overview As earlier stated, TON continues to trade at $3.16 reflecting market gains of 5.12% and 4.62% in the past one and seven days, respectively. Telegram LLC which served as initial developers of TON and offers a deep integration with the cryptocurrency project has registered a series of positive developments contributing to these recent price leaps. Most notably, Telegram founder Pavel Durov announced the platform’s partnership with xAI which would grant users in-app access to Grok, the prominent generative AI model. As part of this one year partnership, Telegram is to receive $300 million in cash and equity investment as well as earn 50% of all xAI revenue generated via the messaging platform. With a market cap of $7.79 billion, Toncoin ranks as the ninth largest cryptocurrency in the world despite a year-on-year loss of 49.98%. Featured image from Pintu Academy, chart from Tradingview
Despite the denial, Telegram CEO Pavel Durov stated that the deal has been "agreed in principle" and that "formalities are pending."
The messaging app, with over 1 billion users, plans to use $955 million to buy back existing bonds and the remaining $745 million for growth.
TON pulled back on Thursday after Elon Musk poured cold water on a deal to bring Grok AI to Telegram, which was announced by Pavel Durov.