TLDR
- Over the past week, Toncoin (TON) witnessed a 5.4% dip, now trading at about $4.84.
- In a move to streamline services, Telegram partners exclusively with TON Foundation, making it their dedicated blockchain.
- According to a CryptoQuant analyst, shifting open interest metrics could hint at an impending price rebound.
- Recent transfer activity highlighted over 240,000 TON tokens being sent to exchanges, suggesting growing selling pressures.
- For Telegram's suite of services like Premium, Ads, and Mini Apps, TON will be the chosen payment method.
Telegram, a global messaging giant, is realigning its blockchain approach by partnering solely with The Open Network (TON).
On January 21, 2025, Telegram The announcement confirmed that Telegram will only support TON, excluding all other blockchains. This partnership designates TON as the backbone for Telegram's Mini App environment, a creative space for developers.
Under the new agreement, within Telegram's domain, Toncoin emerges as the singular cryptocurrency for non-fiat transactions, covering services such as Premium subscriptions, advertising, and alternatives to traditional SMS verification.
This collaboration alters payment avenues for content creators. Now, earnings from Telegram Stars and ad revenue will be directly in Toncoin, creating an exclusive financial channel in this ecosystem.
TON Price
Manuel Stotz, new head of the TON Foundation, expressed the strategic weight of their alliance.
\"As the sixth most downloaded app globally, Telegram stands as a free speech champion and the go-to communication tool for blockchain enthusiasts. Our reach has no blockchain equal,\" shared Stotz.
The TON Foundation highlighted how Telegram’s integration The rise and evolution of TON features like new updates for Mini Apps, Toncoin integration for payments, and additions to the ad platform have fueled its expansion.
Yet, Toncoin faces market instability. Latest stats show a 5.4% drop, trading now at $4.84, contrasting the wider crypto sector that has begun to recover.
Attentive market experts are keeping an eye on trends. TON’s performance . Analyst Joao Wedson from CryptoQuant has observed open interest data trends hinting at possible price shifts. The number of active derivatives contracts, namely open interest, has steadily risen when volatility spikes occur.
On-chain analysis highlights major movements of TON, as noted by analyst Ali, with a significant 240,000 Toncoins moved to exchanges recently, pointing to potential sell-offs amid its price drop.
The shift to TON as the only protocol impacts current Mini Apps that once used other blockchain systems. A spokesperson from TON highlighted that some developers had previously launched apps on networks like Sui, Solana, and Aptos. Now, the focus shifts to TON Connect, the sole protocol for linking Telegram Mini Apps with blockchain wallets.
The timing is curious, as it coincided with Hamster Kombat announcing its own blockchain network plans around the same time.
For developers working within Telegram, this change means embracing TON’s technology. While many builders were already leaning toward TON deployments, those on other platforms must adapt to the TON ecosystem.
This partnership deepens technological relations between TON and Telegram, seen as a pivotal move in TON’s 2025 roadmap, leveraging Telegram’s vast audience for future growth.
This partnership impacts several facets of Telegram functions, mandating Toncoin for all non-fiat purchases like Telegram Stars, Premium services, or advertising, consolidating the cryptocurrency options.
Current market snapshots list TON at $4.84, with a slight 0.4% increase over the last 24 hours. Despite this, the asset is still within a correction mode, with market cap and daily trades under pressure.
