Toncoin surged 36% after Telegram founder Pavel Durov announced the messaging platform will replace the TON Foundation as the driving force behind The Open Network. Durov stated Telegram will become the network’s largest validator, slash transaction fees sixfold to near-zero, and launch new performance upgrades within weeks. The news also propelled TON-based meme coins, with $DOGS and $UTYA gaining over 100% and 140% respectively. Analysts observed the rally fits a pattern of spikes tied to Telegram’s increased involvement but warn of a potential pullback after the upgrade.
Toncoin jumped 36% after platform founder Pavel Durov announced Telegram’s “next step” would see it assume control of The Open Network. “Telegram replaces the TON Foundation as the driving force behind TON and becomes its largest validator,” Durov stated. The TON token was trading at $1.86 at press time, according to CoinGecko data, though it remains more than 77% below its all-time high.
The ton.org domain now displays a holding page reading it is controlled by MTONGA. Illia Otychenko, Lead Analyst at CEX.IO, told Decrypt the rally fits a familiar pattern. “Toncoin has a history of sharp rallies whenever Telegram increases its involvement or signals deeper integration, and this move fits that pattern,” he said.
Otychenko flagged $2 as a key resistance level and noted momentum indicators are flashing caution. “The daily RSI has moved into overbought territory, which often precedes short-term corrections,” he explained. Ben Caselin, CMO at crypto exchange VALR, drew parallels to Ethereum’s Dencun upgrade, where fees dropped but price gains did not persist.
Meanwhile, TON meme coins surged alongside the native token. CoinGecko tweeted that the ecosystem’s combined meme coin market cap hit $156 million. $NOT posted double-digit gains, while $DOGS and $UTYA surged over 100% and 140%, respectively, in 24 hours.
French authorities lifted Durov’s travel ban last November after more than a year of legal restrictions. His passport was returned last March, a development that itself sent TON up 29%. In October, he unveiled Cocoon, a decentralized AI compute network built on TON that pays GPU owners in Toncoin.
