Understanding Toncoin's Surge and What Telegram's U.S. Wallet Means for the Future

As Toncoin [TON] gains momentum, the crypto community is buzzing with excitement! The launch of Telegram’s self-custodial wallet in the U.S. has sparked interest, leading to notable price movements despite modest DeFi metrics.

Key Takeaways

Toncoin has experienced almost a 10% price increase recently.
The rise coincided with the introduction of Telegram's self-custodial wallet in the U.S., providing users with new cryptocurrency functionalities.
Although the price is climbing, the DeFi ecosystem still shows signs of growth potential with $85 million locked in TVL.
Strong daily app revenue and fees indicate user engagement, but long-term liquidity may take time to develop.

toncoin

A Breakthrough After a Slow Start

Over the past week, Toncoin (TON) has seen a significant uptick, with prices climbing almost 10% as buyers returned following a dip earlier in the month.

Source: TradingView

The price rebounded from the $1.45-$1.50 range and pushed towards $1.63, surpassing short-term resistance levels. Indicators like the RSI show increased strength, and the MACD has turned bullish, indicating positive momentum. Additionally, as the price approaches the upper Bollinger Band, we can anticipate greater price volatility ahead.

While this isn’t an explosive rally, it seems there is potential for further improvements.

The Impact of the Wallet Launch

This price increase aligns with Telegram's recent rollout of its self-custodial wallet in the U.S., allowing users for the first time to send, swap, and store cryptocurrency directly within a popular messaging platform.

Source: X

Many blockchains have struggled to create seamless user experiences, but with this integration, the TON ecosystem—including Tether’s USDT [USDT] and NFTs—will become a natural part of users’ everyday communications.

Challenges Ahead

Despite the price rise supported by real-world advancements, the TON network still appears somewhat subdued.

Source: DeFiLlama

As of writing, Toncoin’s DeFi Total Value Locked (TVL) stands at around $85 million, which is still below previous peaks, signaling that large-scale investments haven’t yet materialized. However, the stablecoin supply remains robust, hovering around $960 million, and daily app revenue and fees show consistency. This suggests that user activity is high even if there is limited long-term capital lockup.

Though foundational activity is growing, liquidity is taking its time to catch up.

Final Thoughts

With Toncoin's recent success and the introduction of Telegram's wallet, the outlook may become increasingly optimistic. As user engagement grows and bolstered by technological integration, there might be exciting opportunities on the horizon in the crypto space.