Toncoin Surges 25% Amid Reduced Fees and TON Reorganization

Telegram has announced that it will assume control of The Open Network (TON) from the TON Foundation, positioning itself as the primary validator within the network. Pavel Durov, the founder of Telegram, made this declaration, emphasizing a future focus on achieving "technological superiority" for the ecosystem.

In the coming weeks, updates will be revealed, including a revamped website at ton.org, new development tools, and performance enhancements for the blockchain. Durov referred to this initiative as part of a larger strategy, dubbed "Make TON Great Again," which consists of seven phases.

Additionally, Durov highlighted that network transaction fees have plummeted by six times, now approaching zero, thanks to the Catchain 2.0 update implemented on April 9. This upgrade not only expedited block production but also improved validator returns.

As a result of these developments, the price of Toncoin skyrocketed by over 25% in just one day. Current data from CoinMarketCap indicates that Toncoin has re-entered the top 20 cryptocurrencies by market cap, reaching a valuation of $4.6 billion, overtaking both Litecoin and Avalanche.

At the time of this report, Toncoin is trading at approximately $1.7.