TON Strategy, a Nasdaq-listed company building its treasury around The Open Network's native Toncoin token, generated an estimated 3.3 million TON in staking rewards for May and is staking nearly all of its over 227 million tokens. The company reported its preliminary gross staking yield reached roughly 1.48% in May, up from 1.39% the month prior, according to The Block. Based on its reported 226.8 million staked TON holdings at the end of May, this implies roughly $5.6 million in staking rewards for the month. The company also voiced its support for a slate of TON governance proposals that took effect on June 4, 2026, with upgrades focusing on improving "network performance, throughput and scalability" while leaving staking rewards mostly unchanged.
TON coin climbed 13.36% over the last 24 hours and reached $1.70 at press time, according to reports from AMBCrypto. This extended the asset's recovery from recent lows even as broader market participation remained subdued. However, spot volume declined 16.51% to $250.8 million despite the strong price advance, creating a divergence that suggested buyers pushed prices higher without broad market participation supporting the move. Meanwhile, TON Strategy's TONX shares were up roughly 1.3% on Monday to $3.15, bringing the stock's year-to-date gain to about 31%, while TON was trading near $1.72 and has remained mostly flat year-to-date. The company, formerly Verb Technology, adopted its TON treasury plan in August last year and has become one of the network's major holders and validators.
The approved network upgrades took effect on June 4, 2026, and included smart contract execution improvements through TVM 14 upgrade, full collated data generation and validation optimizations, and The Block Sync Overlay for dedicated validator communication. CEO Kevin Wilson stated that "These network upgrades represent another important step as TON continues to develop for high-volume consumer applications tied to the Telegram ecosystem." The changes are part of Telegram CEO Pavel Durov's "Make TON Great Again" initiative, which includes the renaming of TON's native cryptocurrency to Gram, reviving the branding originally outlined in Telegram's first white paper. Durov has described it as a return to the project's roots while pushing adoption of The Open Network across Telegram's global user base.
After defending the $1.50 support level, TON recovered toward $1.72 and established distance from its recent low, according to AMBCrypto analysis. However, buyers had not yet reclaimed the critical $2.10 resistance zone that repeatedly capped previous advances. The broader chart structure still showed resistance at $2.10, with a higher barrier positioned near $2.80. Technical indicators reflected mixed conditions, with the MACD line remaining below the signal line while the histogram stayed negative despite showing signs of contraction. The update comes on the heels of Telegram's ecosystem overhaul, with Durov announcing fee reductions, network upgrades, and plans for Telegram to assume a larger role as a steward of the ecosystem.
Liquidation data highlighted several important zones above the current market price, as reported by AMBCrypto. The heatmap showed dense liquidity clusters concentrated between $1.78 and $1.82, with additional pockets extending toward $1.85 and $1.90. These levels represented areas where short positions could face pressure if the price continued rising. Notable liquidity rested beneath the market between $1.55 and $1.60, creating a critical support region. Since TON already traded above those lower clusters, the path of least resistance appeared tilted toward the upper liquidity zones, with the recent network upgrades potentially supporting continued upward momentum.
