Toncoin (TON) continued to rise overnight as markets braced for the second half of Pavel Durov’s seven-step roadmap to Make TON Great Again (MTONGA).
The token had risen from roughly $1.37 to $2.8 at press time, more than doubling in value shortly after Durov He said Telegram has become the largest TON validation tool.
Toncoin’s rise has pushed it into the top 20 list of crypto assets by market cap, where it now ranks 19th. It has overtaken Chainlink and Canton as its market capitalization has risen to around $7.5 billion, narrowing the gap with Monero.
Tier 1 crypto assets also made gains over the past 24 hours, followed by Venice Token, Near Protocol, and MemeCore.
Telegram brings TON home
Telegram is bringing TON, originally known as Telegram Open Network, back home. Durov said the company will replace the TON Foundation as the primary network supervisor.
The project was developed by the Durov brothers in 2018 but regulatory issues forced Telegram to stop working on it. TON, then known as the Open Network, later continued under an independent community and the TON Foundation.
The TON Foundation has led a number of key initiatives to expand the network ecosystem. Efforts included deeper Telegram integration, launching The Open League incentive program, enhancing developer resources through the TON Builders Portal, and continued expansion of the DeFi, payments, NFTs, and mini-app ecosystem.
The most notable trend has been Click to Earn, a format popularized in early 2024 by Notcoin. While Notcoin pioneered this mechanism, it sparked a broader “tapping” boom that has since grown into a more complex mini-app economy, with projects like Hamster Kombat and Bloom expanding it into virtual management games and decentralized exchange platforms.
Serving as Toncoin’s top validator is the third milestone in a seven-step plan, Durov said. Another benefit is the reduction in TON transaction fees and block price.
The founder of Telegram has Described That TON leads all competitors in the end time.
