Overview
- Telegram founder Pavel Durov disclosed the leadership shift on May 4, placing the company in charge of The Open Network and at the top of its validator set.
- Toncoin climbed from about $1.37 to as high as $2.8–$2.9, lifting its market value to roughly $7.3–$7.5 billion and moving it into crypto’s top 20.
- Telegram’s MTONGA plan targets near‑zero fees and faster blocks around 400 milliseconds, with new developer tools slated for late May.
- Staking deposits hit about $191.83 million in a single day as participants competed with Telegram for validator rewards reportedly above 20% APR.
- Technical gauges show TON in overbought territory near a 89 RSI, which points to higher odds of a short‑term pullback.