TON Doubles as Telegram Moves to Become Largest Validator

Toncoin rose from about $1.32 on May 1 to a $2.90 intraday high on May 7 after Pavel Durov said Telegram would replace the TON Foundation as the network’s primary driving force and become its largest validator within two to three weeks. Telegram and TON had already formalized January 2025 exclusivity agreements that made TON the sole blockchain infrastructure for Telegram Mini Apps and made Toncoin the only cryptocurrency accepted for Telegram Stars, Premium, Ads, Gateway, and certain payouts. A May 24 unlock of about 36.58 million TON and the fact that the validator shift is still an announced intention leave near-term execution risk.

TON2.63%
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