Toncoin Surges 36% as Telegram Takes Control of The Open Network
Toncoin has surged over 36% in 24 hours, reaching a four-month high of $1.80, following Telegram's announcement to replace the TON Foundation as the main operator of The Open Network. Telegram's founder, Pavel Durov, also stated that transaction fees on the network would drop significantly, with many transactions moving towards a fee-less model, according to CoinDesk.
What Happened
Toncoin (TON) has increased by more than 36% in just one day, hitting a price of $1.80, the highest in four months. This surge follows the announcement from Telegram's founder, Pavel Durov, indicating that the messaging platform would replace the TON Foundation as the principal force behind The Open Network, which is the blockchain paired with Telegram. This shift allows Telegram to become the largest validator, enhancing its influence over the network.
Why It Matters
Telegram's pivot towards a more active role in TON could address previous concerns regarding the disconnection between its messaging service and the chain's operational management. With the drop in transaction fees—expected to reach near zero—Telegram aims to bolster the usability of TON for a variety of applications, including bot payments and small retail transactions. The significant reduction in costs is seen as essential for attracting more everyday users, as lower fees can make on-chain activities more appealing for smaller transactions.
What to Watch
- Developments regarding the deployment of new developer tools and performance upgrades, as mentioned by Durov, are anticipated in the upcoming weeks.
- Monitoring how this change will impact active user engagement on TON, which, as of now, has seen reduced daily activity compared to prior peaks.
- The overall performance and fluidity of the ecosystem as Telegram takes over, particularly how this transition impacts other tokens associated with the platform.
Summary based on original reporting by Shaurya Malwa at CoinDesk, originally published May 5, 2026. SolanaWire does not republish source content.
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