Telegram Takes Control of Toncoin Blockchain Governance

Toncoin (TON) price surged significantly following an announcement from Telegram CEO Pavel Durov, where he stated that Telegram would replace the TON Foundation as the blockchain's main driving force. The change in governance has led to a substantial increase in trading volume, with over $630 million traded in 24 hours, and a market capitalization of $4.5 billion.

The announcement has also sparked a rally in TON-based meme tokens, with Dogs up over 90% and Notcoin gaining 26%. The surge in demand for Toncoin can be attributed to the structural demand created by Telegram's integration with the blockchain.