Toncoin: Telegram’s Native Cryptocurrency Soars as Ex-Visa Exec Joins TON Foundation

TON experienced significant price volatility, marked by exceptionally high trading volume—approximately ten times the average for the period during peak hours. This surge in activity coincided with the formation of robust support between $2.97 and $2.98, and the establishment of new resistance at $3.27.

The most dramatic price movement occurred within a two-minute window (10:53-10:55), during which TON rapidly ascended from $3.18 to $3.29. This sharp increase was accompanied by an unprecedented volume exceeding 2.1 million in a single minute—nearly twenty times the average minute volume for the period, clearly demonstrating powerful buying pressure. Despite this aggressive upward momentum, some profit-taking was observed in the closing minutes, resulting in a slight price retracement to $3.27.

Prior to this breakout, TON’s price consolidated between $2.97 and $3.04 for a considerable duration. The consistent testing and holding of the $2.97-$2.98 support level underscores its significance. The emergence of resistance at $3.27 suggests the potential for continued upward price movement, pending further market developments.

The extraordinary volume spikes, reaching 19.7 million and 15.4 million in consecutive hours, further emphasize the intensity of trading activity. This represents a tenfold increase compared to the average hourly volume during the period, indicating significant market interest and participation. The hourly chart clearly shows an ascending channel pattern, characterized by progressively higher lows, reinforcing the bullish sentiment.

The timing of this significant price action is noteworthy, following the May 28th, 2025 announcement by Cointelegraph that the TON Foundation appointed a former Visa executive to lead its payments strategy. While a direct causal link cannot be definitively established, this news likely contributed to the heightened investor interest and subsequent buying pressure observed in the market. The confluence of strong technical indicators and positive news suggests a positive outlook for TON, although further price movements will depend on broader market conditions and future developments.