Toncoin (TON) has experienced continued bullish momentum, surging approximately 7% during the day and currently trading at $1.44, according to latest data from CoinGecko. The altcoin's total market capitalization has risen to $3.9 billion as the market responds to Telegram's latest strategic announcement. The bullish sentiment has spread across the Telegram-linked ecosystem, with Notcoin gaining nearly 26%, Dogs rising more than 100%, and several smaller TON-based tokens posting even larger daily moves. As reported by CoinDesk, the market is repricing TON as a Telegram-led ecosystem rather than just a foundation-run chain with a messaging app narrative attached. The rally fits a familiar pattern where Toncoin experiences sharp gains whenever Telegram increases its involvement or signals deeper integration.
In his latest statement, Telegram founder Pavel Durov announced that the messaging platform would replace the TON Foundation, becoming the network's primary driver and also its largest validator. According to Durov, Telegram is expected to place a stronger focus on TON's technical performance, with updates including a new official website for the network, developer tools, and performance improvements being rolled out within the next 2 to 3 weeks. The official Toncoin website is currently in maintenance mode, displaying a message indicating that certain changes have been made. This move aims to increase TON's scalability and user experience, with Durov emphasizing that "The focus shifts to tech superiority. New ton.org, new dev tools, new performance upgrades. Timeline: 2-3 weeks."
In the same announcement, Durov revealed that TON fees have fallen sixfold to near zero, after previously announcing that transaction costs would drop to 0.00039 TON, or about $0.0005. As reported by CoinDesk, fees in TON have dropped 6× to nearly zero, with most transactions eventually moving toward a fee-less model. The reduced costs are particularly significant for consumer applications, as fixed, tiny costs make TON more usable for high-frequency, low-value activity, broadening its appeal as a blockchain among existing users. Durov emphasized that near-zero transaction costs matter most for the kinds of products Telegram can actually distribute, such as on-chain tips, games, bot payments, mini-app transactions, collectibles, and small retail transfers.
Despite the recent rally, TON's fundamentals have failed to catch up to the hype in recent years. According to DefiLlama data, TON captures just over $69 million in locked value across its decentralized finance applications, far below its 2024 highs near $800 million. Data from Tonstat shows daily active wallet activity on TON at just under 50,000, coming from around 136,000 unique wallets, compared with roughly 700,000 daily activities across more than 2.2 million wallets during August and September 2024. TON is still trading approximately 82% below its all-time high of $8.25, set in September 2024. Market analysts warn of potential corrections ahead, with Illia Otychenko from CEX.IO flagging $2 as the key resistance level and noting that "The daily RSI has moved into overbought territory, which often precedes short-term corrections."
The broader TON ecosystem has experienced significant gains alongside the native token, with TON meme coins posting substantial rallies. According to CoinGecko data, the ecosystem's combined meme coin market cap hit $156 million as the rally took hold. Notcoin posted double-digit gains, while Dogs and UTYA surged over 100% and 140% respectively over the past 24 hours. However, analysts caution about the sustainability of the current rally. Ben Caselin from VALR noted that markets often "buy in on the announcement… and then lock in profits upon execution," drawing parallels to the Dencun upgrade on Ethereum where fees dropped significantly but price gains did not persist. The real test will be whether near-zero fees translate into sustained growth in transactions, wallets, and Telegram-native use cases, as analysts warn that "for long-term price appreciation, increased usage must translate into stronger reasons to hold or use Toncoin."
