TONCOIN (TON) fluctuates 28.7% in 24 hours: Telegram's takeover of TON Foundation and validator nodes leads to drastic price swings
Bitget Pulse2026/05/07 16:02Volatility 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.
Note: This analysis is automatically generated by AI based on public data and on-chain monitoring, and is for informational reference only.Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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