Why is Toncoin up today? TON trades at $2.37, up 28.1%, after Telegram deepens TON integration and cuts network fees.
Author: Kritika Gupta
Steady attention without excessive speculation.
Toncoin (TON) traded at $2.37, up 28.1% over the past 24 hours, according to CoinGecko, after Pavel Durov announced deeper Telegram integration with The Open Network. TON is a Layer 1 smart contract network specializing in financial applications, according to CoinGecko, and the move centered on Telegram becoming the network’s largest validator while transaction fees drop near zero.
This article is for informational purposes only and does not constitute financial advice.
Telegram founder Pavel Durov drove the primary catalyst on May 4, 2026, when he posted on X that Telegram would replace the TON Foundation as the network’s driving force and become TON’s largest validator. According to reports from U.
Today, NewsBTC, Coinpedia, MEXC News, and CryptoRank, the same announcement also included a 6x reduction in transaction fees. That directly tied TON’s market move to Telegram’s deeper role in network operations, validator participation, and user-facing infrastructure.
Secondary market data also supported the move. CoinGlass showed Toncoin perpetual futures open interest at $510.21 million, up 41.11% in 24 hours. It points to a derivatives-led rally alongside the spot move.
DefiLlama also showed TON chain DEX volume rising 394.68% on a weekly basis, reflecting stronger network trading activity. [INTERNAL LINK: Telegram and TON ecosystem explained]
CoinGecko listed TON’s 24-hour trading volume at $1,191,985,296, with the token ranked #20 by market cap at $6,354,748,075. CoinGecko did not provide an exact 7-day average volume, but DefiLlama showed TON chain DEX volume up 394.68% weekly.
CoinGlass showed open interest at $510.21 million, up 41.11%, while the funding rate sat at -0.0064%. No TON-specific whale transfers surfaced on Arkham Intelligence, Lookonchain, or Whale Alert. DefiLlama listed TVL at $80.47 million, up 23.74% in 24 hours.
The official @ton_blockchain account posted nothing directly relevant in the past 24 hours, according to the targeted search. Market data serves as the clearer sentiment proxy here. CoinGlass showed a jump in open interest, which indicates aggressive futures positioning. The cautionary signal came from the same derivatives data, where the funding rate showed negative funding despite the rally.
TradingView chart summaries placed immediate historical resistance in the $2.30 to $2.50 liquidity zone, based on recent May 2026 swing-high price action. The key support level sits near $2.00, based on the prior May 2026 consolidation and swing-low area.
The next major historical level above that resistance remains $8.28. It wasToncoin’s all-time high from June 14, 2024, according to historical price data. TradingView technicals listed the 14-day RSI at 91.512, which signals overbought conditions.
This is not financial advice. Always do your own research before making investment decisions.
The next confirmed TON catalysts include a new ton.org website, developer tools, and performance upgrades covering block times and throughput, which Durov said should arrive within 2 to 3 weeks from the May 4 announcement. DefiLlama unlocks also list a May 23, 2026 release of about 36.58 million TON, equal to roughly 0.72% of supply and around $83 million at current prices. That creates a balanced setup with Telegram integration on one side and unlock pressure plus overbought RSI risk on the other.
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