- Founder and CEO Telegram Pavel Durov published a message on the future development of the network Toncoin.
- Now the team will take on the main role in network validation and its development. Telegram.
- Token TON responded to the news with a 69% gain in three days. Its gain on May 6th was 31%.
After the big news that the team Telegram will replace the TON Foundation developers in Toncoin development. On May 6, the price of the TON token soared by almost 31% and closed the top 20 cryptocurrencies by market value. Similar the rise demonstrated only the rate of confidential cryptocurrency Zcash.
It should be noted that the founder and CEO have not announced these plans. Telegram Pavel Durov wrote on the evening of May 4, but the price effect became fully apparent two days later.
According to Durov’s plans, Telegram could become the largest validator on the TON network. The market responded positively to the upcoming changes, and the token price increased from $1,30 on May 3 to the current $2,3, an increase of 69%.
Later Durov confirmed that Telegram aims to take control of the protocol’s validation and future development, as well as reduce transaction fees by approximately six times, practically eliminating them.
On According to According to CoinGecko, TON has risen more than 31% in just 24 hours, reaching a price of $2,37 at the time of writing. Along with this rapid price rise, TON social media activity has also increased sharply—according to According to Santiment, on May 5, the number of mentions of TON reached 91 in four hours.
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