TONCOIN (TON) fluctuates 28.7% in 24 hours: Telegram's takeover of TON Foundation and validator nodes leads to drastic price swings

Volatility Overview

In the past 24 hours, the price of TONCOIN rebounded from a low of $2.262 to a high of $2.910, currently trading at $2.415, with a fluctuation range as high as 28.7%. The 24-hour trading volume has surged to over $1.6 billion, significantly higher than before.

Brief Analysis of the Cause of the Surge

- On May 6, Telegram officially took over the TON Foundation and announced it would become the network's primary validator. This has significantly reduced transaction fees and improved network performance, directly triggering a sharp price increase from around $1.70.

- Trading volume spiked by over $1 billion, accompanied by signs of whale accumulation and related upward movements in TON ecosystem tokens (such as DOGS and NOT), forming a short-term bullish squeeze.

Market View and Outlook

Market sentiment is highly bullish, with the community viewing Telegram's deep integration as a long-term catalyst for TON. Analysts project mid-to-short-term targets of $6-7, but warn of short-term pullback risks amid high volatility, urging attention to BTC support levels.