Overview
- Telegram said on May 4 it would replace the TON Foundation as steward of the TON blockchain and become its largest validator, alongside roughly sixfold fee cuts and sub‑second transactions.
- Toncoin more than doubled to about $2.8 after the move, lifting its market value to roughly $7.5 billion and a top‑20 ranking.
- Momentum looks stretched, with the 14‑day relative strength index near 89 signaling a risk of a short‑term pullback.
- Staking deposits jumped by about $191.83 million in one day, the most in nearly four months, as holders locked tokens to help validate the network and earn rewards.
- Pavel Durov cast the shift as the third milestone in his seven‑step “Make TON Great Again” plan, with an updated ton.org site and new developer tools expected later in May.