Toncoin (TON) has seen its price surge by nearly 90% over the past month, catalyzed by the integration of TON into the popular messaging app Telegram.
It’s important to note that TON and Telegram have no official affiliation, despite this major development. Still, the Ethereum network, where TON exists as a wrapped asset, has seen significant effects from the integration.
According to data from IntoTheBlock, the number of active TON addresses on Ethereum has increased sevenfold, exceeding 300 for the first time since December. At the same time, the number of TON tokens transferred on September 16th reached 1.2 million, equivalent to approximately $3 million – the highest amount since December.
While TON operates as an independent blockchain, TON Coin on Ethereum can be traded on decentralized exchanges like Uniswap and Pancakeswap. These platforms have also seen a spike in TON trading volume following the integration with Telegram.
The TON Foundation has ambitious plans, including integrating the TON blockchain deeply with the Telegram app and its 800 million monthly active users. This will introduce TON Space, a self-custodial wallet within Telegram that provides access to digital assets and mini-apps like Fragment, which has generated $120 million in value so far.
Despite past regulatory issues and no direct involvement from Telegram’s founders, the TON project continues to thrive thanks to its independent community of developers. The price surge shows strong enthusiasm for TON’s potential, even without an official Telegram affiliation.
