TON price doubles after Telegram made a move critics say cuts against crypto’s core promise
Toncoin (TON) surged from roughly $1.32 on May 1 to an intraday high of $2.90 by May 7, pushing its market cap to approximately $7.8 billion. The catalyst was Pavel Durov's announcement that Telegram would replace the TON Foundation as the network's primary driving force and become its largest validator within two to three weeks. […] The post TON price doubl...
Key takeaways
- 1Toncoin (TON) price doubled from $1.32 to $2.90 between May 1-7, reaching $7.8 billion market cap.
- 2Pavel Durov announced Telegram will replace TON Foundation as primary network driver and become largest validator within 2-3 weeks.
- 3The centralization move by Telegram contradicts crypto's decentralization principles, sparking criticism from community advocates.
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Why it matters
TON's surge shows retail investors chase institutional backing over decentralization ideals; centralized control by Telegram raises long-term governance risks relevant to Indian investors evaluating Layer-1 alternatives to Ethereum.
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