TLDR
Toncoin (TON) has experienced a 5.4% price decline over the past week, trading at $4.84
Telegram announced exclusive partnership with TON Foundation, making it the only supported blockchain for its services
CryptoQuant analyst suggests potential price reversal based on open interest patterns
Over 240,000 TON tokens were transferred to exchanges recently, indicating increased selling pressure
TON will be the exclusive payment method for Telegram services including Premium, Ads, and Mini Apps
Telegram, one of the world’s most popular messaging platforms, has announced a major shift in its blockchain strategy by establishing an exclusive partnership with The Open Network (TON).
On January 21, 2025, Telegram revealed it would cease support for all blockchains except TON across its messenger services. The partnership makes TON the sole blockchain infrastructure for Telegram’s Mini App ecosystem, which serves as a platform for developers to create and deploy applications within the messaging service.
The exclusive agreement means Toncoin will be the only cryptocurrency accepted for non-fiat payments within Telegram’s ecosystem. This includes payments for various services such as Telegram Premium subscriptions, advertising services, and the Telegram Gateway platform, which offers an alternative to traditional SMS verification.
The partnership extends to the payment structure for content creators and developers. Channel owners and Mini App developers will now receive their earnings from Telegram Stars and advertisement revenue exclusively in Toncoin, establishing a clear monetary pathway within the ecosystem.
Toncoin
TON Price
Manuel Stotz, the newly appointed president of the TON Foundation, emphasized the strategic importance of this partnership.
“Telegram is the sixth most downloaded app in the world, a beacon for free speech, and the default messaging platform for the global blockchain community. No other blockchain has a comparable distribution vector,” Stotz stated.
The TON Foundation highlighted how Telegram’s integration of TON features has contributed to the network’s growth. These features include updates to Mini Apps, the implementation of Toncoin for payments, and developments in the advertising platform.
However, this announcement comes during a period of market uncertainty for Toncoin. Recent data shows that TON has experienced a 5.4% decline in price over the past week, with the cryptocurrency trading at $4.84. This performance stands in contrast to the broader cryptocurrency market, which has shown signs of recovery.
Market analysts have been closely monitoring TON’s performance. CryptoQuant analyst Joao Wedson has identified patterns in the open interest data that might suggest a potential price reversal. Open interest, which measures the total number of outstanding derivatives contracts, has shown consistent increases during volatility spikes.
On-chain data has revealed notable movement of TON tokens. Crypto analyst Ali reported that over 240,000 Toncoin have been transferred to exchanges in the past week, potentially indicating increased selling pressure. This transfer activity coincides with the asset’s recent price decline.
The implementation of TON as the exclusive protocol affects existing Mini Apps that previously utilized other blockchain networks. A TON Foundation spokesperson acknowledged that some developers had deployed applications on networks like Sui, Solana, and Aptos. Under the new partnership, TON Connect becomes the exclusive protocol for linking Telegram Mini Apps to blockchain wallets.
The timing of this announcement is particularly noteworthy as it follows Hamster Kombat’s recent declaration. The popular Telegram Mini App announced plans to launch its own blockchain network on January 15, just days before Telegram’s exclusive partnership announcement.
For developers within the Telegram ecosystem, this change means adapting to TON’s infrastructure. The TON Foundation has stated that while many builders had already chosen to deploy on TON, those using other networks will need to transition their blockchain functionality to the TON network.
The partnership represents a deepening of technological ties between TON and Telegram. The TON Foundation views this as a crucial step in its 2025 roadmap, positioning the network for potential growth through Telegram’s extensive user base.
The practical implications of this partnership extend to various Telegram services. Users seeking to make non-fiat payments for Telegram Stars, Premium subscriptions, or advertising services will need to use Toncoin exclusively. This consolidation of payment options streamlines the platform’s cryptocurrency transactions into a single system.
Recent market data shows TON trading at $4.84, with a modest 0.4% increase over 24 hours. Despite this slight uptick, the asset remains in a correction phase, with its market capitalization and daily trading volume showing continued pressure.
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