- In a week, the TON price has grown by almost 90% after Telegram announced an expansion of his role in The Open Network.
- Role Telegram as a validator and the reduction in fees have strengthened investors’ confidence in the future growth of the Toncoin price.
Toncoin (TON) became one of the most profitable cryptocurrencies this week, as the asset’s price more than doubled.
According to According to According to CoinGecko, on May 2, TON was worth around $1,34, and on May 9, its intraday high was already $2,67.
Toncoin is our own token The Open Network blockchain, which is closely linked to the application ecosystem Telegram. That is why the main reason for the asset rally was Pavel Durov’s statement that Telegram will replace the TON Foundation as the main driver of the crypto project’s development and become the network’s largest validator. A validator is a system that helps confirm transactions and protect Block.
This move is part of Durov’s plan to “Restore TON to Its Former Glory.” The market perceived this announcement as a major shift, triggering a new surge of buying interest in the digital asset. Many traders now believe that the cryptocurrency’s huge user base Telegram The network could grow faster than many other blockchains. The messenger has hundreds of millions of users, and the in-app crypto tools could make blockchain easier for ordinary users to use.
Having become the largest validator of TON, Telegram Strengthened decentralization. This allows other large players to join the validator pool without centralizing the network. Telegram as a counterweight, – wrote Durov.
The price increase was also driven by recent technical improvements to the TON blockchain. In April, the network activated the Catchain 2.0 upgrade, which reduced block creation time from approximately 2,5 seconds to 400 milliseconds. Furthermore, transaction confirmation times approached one second, speeding up network performance for payments and applications.
Transaction fees have also become a key growth driver. Durov announced that TON transaction fees will be reduced almost sixfold to 0,00039 TON, or approximately $0,0005 per transaction. This makes the network more attractive for small payments, mini-apps, and frequent transactions.
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