TON Price Surges 15% as Telegram Boosts Blockchain Speed
Toncoin (TON) gained 14.83% over the last 24 hours, trading at $1.48, dramatically outperforming flat Bitcoin and driven primarily by a bullish network upgrade announcement from Telegram.
Telegram founder Pavel Durov announced the activation of the Catchain 2.0 upgrade, making the TON blockchain 10 times faster and achieving transaction finality in under 1 second.
The upgrade is bullish for TON as it significantly improves network performance for payments and dApps, enhancing its competitive edge against rivals like Solana.
Hence, investors reacted positively to deeper integration with Telegram’s $1 billion user base, driven by features such as ad revenue sharing and ecosystem growth, which fueled sentiment.
According to data from crypto exchanges, TON trading volume spiked 125% in 24 hours to $250 million. Its market cap is hovering around $3.6 billion, boosted by bargain hunting.
The next phase, according to Telegram, aims to achieve a 6x reduction in transaction fees and improved speed, boosting adoption prospects.
TON investors’ sentiment improved over this fundamental improvement, which lowers barriers for users and developers, directly increasing the network’s utility and adoption potential.
Crypto analysts said the upgrade is a strong bullish signal for network efficiency, making TON more competitive and attractive for building and transacting.
TON’s price is increasingly tied to its utility within one of the world’s largest social platforms, providing a long-term growth story.
Technically, TON broke above a key resistance at $1.35 with a massive 123% volume spike, confirming bullish momentum. However, its 14-day Relative Strength Index at 81.9 signals severely overbought conditions.
The immediate pivot is the $1.35 breakout level. If price holds above it, the next target is the Fibonacci extension at $1.56. A break below $1.35, however, could trigger a correction toward the 38.2% retracement support near $1.32.
Meanwhile, Grayscale added Toncoin to its Q2 assets-under-consideration page, listing it under Smart Contract Platforms. This public watchlist signals that the asset is undergoing institutional-grade review, which can enhance its legitimacy among traditional investors. XRP Gains as Japan Classifies Token as Financial Asset
