Telegram Takes Control of TON, Slashing Fees to Near-Zero

Toncoin has witnessed a significant surge of 36% following an announcement by Pavel Durov, founder of Telegram, that his platform would assume control of The Open Network (TON) and become its largest validator. As part of this move, transaction fees on the network will be slashed to near-zero.

The news sent shockwaves through the cryptocurrency market, with TON meme coins also experiencing a significant price increase. According to CoinGecko data, $DOGS and $UTYA surged by over 100% and 140%, respectively, in the last 24 hours.

Analysts have expressed concerns that the rally may be driven more by narrative rather than fundamental changes. They predict a potential pullback in the coming weeks as traders lock in profits and prices adjust to the new reality.