Telegram directly pushes it... Toncoin's major explosion signal

▲ Toncoin(TON) ©

Toncoin (TON) surged over 20% in a single day, recording the strongest upward trend among top market cap coins.

According to cryptocurrency media Watcher.Guru on May 5 (local time), Toncoin rose 23.5% in the last 24 hours, with weekly gains of 31.3%, 14-day gains of 26.3%, and monthly gains of 38.5%. This is the highest short-term increase among the top 100 projects by market capitalization.

The key factors behind this surge are the sharp drop in network fees and expectations for technical updates. Telegram founder Pavel Durov recently stated in a post that TON network fees have decreased by nearly six times, effectively reaching 'almost zero'. Furthermore, the upcoming release of new developer tools and performance upgrades within the next 2-3 weeks stimulated investor sentiment.

Telegram's plan to replace the TON Foundation and become the largest validator is also cited as a factor that boosted market expectations. The possibility of the project's actual leadership shifting to a global messenger platform has been highlighted, reflecting expectations for network scalability.

Bitcoin (BTC) recovering to $81,000 intraday also contributed to the rise. Analysis suggests that TON reacted most strongly amidst an overall improvement in market risk appetite, leading to a simultaneous rise in major altcoins.

However, volatility risks still exist. Toncoin has a history of falling nearly 80% after reaching an all-time high of $8.25 in June 2024, so the possibility of a price correction after a short-term surge cannot be ruled out. The market suggests that an approach considering both the upward momentum and the characteristics of a high-risk asset is necessary.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*