What’s Behind the 25% Toncoin (TON) Price Rally Today?

Toncoin (TON), the native cryptocurrency of The Open Network, has grabbed the limelight. Toncoin price has recorded a 25% upside in the last 24 hours.

This massive upside came as Telegram founder Pavel Durov said that his team will get involved in blockchain development. It was enough to send TON volumes soaring by 600% in the last 24 hours to 4665 million.

Toncoin Price Grabs Limelight With Rally

In the last 24 hours, the Toncoin price has surged 25%, outperforming the broader altcoin market. It comes as a much-needed rally as TON has been under pressure for a while. The rally comes amid a sharp reduction in network fees, which have dropped nearly sixfold.

It has significantly improved the transaction efficiency of the blockchain. This TON price upside comes as Telegram founder Pavel Durov announced a plan to regain control of The Open Network. In his message on X platform, Durov wrote:

Telegram fuels ecosystem growth while upcoming developer tools and performance upgrades bolster the network. These shifts and upgrades will arrive over the next two to three weeks. These developments have once again fueled renewed investor interest in Toncoin.

Toncoin Price Retests A Breakout Zone

Alpha Crypto Signals said that the Toncoin price chart has completed a rounding bottom breakout. Strong upward momentum supported this.

The analysis noted that the move has left a fair value gap below current price levels. Often, this might lead to a short-term pullback as part of market rebalancing.

According to the firm, a retest of the breakout zone is likely. As of press time, the TON price is trading at $1.77 with a market cap of $4.79 billion. Holding this level could confirm it as support and enable further upside.

However, Alpha Crypto Signals cautioned that entering positions at current levels may carry a higher risk. This shows that traders are waiting for a confirmation following a potential retest.

Telegram Takes Lead In TON Ecosystem

Pavel Durov’s Telegram will play a more direct role in shaping the future of Toncoin. The social media messaging app will leverage its large global user base and financial resources.

Market participants believe that deeper involvement from Telegram could drive new development directions on the TON blockchain. This includes the expansion into consumer apps and more advanced DeFi use cases.

The renewed alignment comes after the project’s earlier separation from Telegram. This happened back in 2019 after the U.S. SEC took regulatory action over the original Gram token offering.

Recent statements from Pavel Durov suggest that Telegram may now step in as a core entity guiding the ecosystem. The community is now optimistic about reshaping the platform’s long-term trajectory.