MARKET ANALYSIS | TonCoin Hits a 4-Month High as Telegram Moves to Take Control of the Blockchain

TonCoin surged more than 36% over the past 24 hours hitting a four-month high after messaging platform, Telegram, signaled plans to take a more direct role in the development of the TON blockchain ecosystem.

The token, which underpins The Open Network (TON), rose to around $1.80 as traders reacted to the shift which includes replacing the existing governance structure led by the TON Foundation and introducing changes such as ner-zero transaction costs.

Other TON-based tokens have also seen spikes with:

• NotCoin gaining ~26%
• Dogs rising by over 100%, and
• Several smaller tokens posting even larger daily moves.

According to Telegram Founder, Pavel Durov, the messaging platform will become TON’s largest validator essentially becoming the driving force within the ecosystem. The platform will

• launch new developer tools,
• undertake performance upgrades, and
• launch a refreshed ton.org

within 2-3 weeks.

Telegram’s move marks a significant reversal from its earlier hands-off stance after regulatory pressure forced it to abandon direct control of the project in 2020 leaving development to an independent community.

The renewed involvement is expected to accelerate integration between the messaging app and the blockchain, potentially giving TON access to Telegram’s large global user base, reportedly of one billion users, and strengthening its position in the payments and Web3 ecosystem.

The near-zero transaction costs are also see as key based on the kind of products Telegram is looking to distribute across the ecosystem such as:

• on-chain tips
• bot payments
• collectibles
• games
• mini-app transactions, and
• small retail transfers

Market participants viewed the development as a bullish signal betting that deeper integration could drive adoption and on-chain activity even as concerns linger over increased centralization following Telegram’s expanded role.

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