Toncoin's price surge can be attributed to its increasing on-chain metrics and the recent news that Telegram has become the network's largest validator. According to data, the network registered its strongest monthly performance in April with 67 million transactions. This development has led to a significant increase in trading volumes and staking ratio.
The altcoin's price broke a long-term downtrend and reclaimed the $2-level, marking a significant milestone for Toncoin. However, traders are advised to exercise patience rather than falling prey to Fear Of Missing Out (FOMO) as the bulk of the short-term impulse move has already played out.