Toncoin Jumps 27% After Telegram Stakes 2.2M TON

Toncoin rose 27% to $1.74 on May 5 after Telegram staked 2.2 million TON and confirmed it will replace the TON Foundation as the network’s largest validator. The price advance ended a four-month trading range and coincided with a protocol upgrade and higher on-chain activity.

Since the start of the year Toncoin had traded in an accumulation band between $1.20 and $1.55 following a steep selloff in January. The May 5 daily candle closed above the upper boundary of that range and reached $1.74, a level that corresponds to the 0.236 Fibonacci retracement of a decline from a $3.75 swing high in August 2025 to a $1.26 low in February 2026. Daily traded volume expanded to its largest level in about seven months.

On-chain and chart indicators showed increased momentum and volatility. The daily relative strength index moved above 70 for the first time since February. Bollinger band width expanded after a period of compression. On the four-hour chart the RSI approached 90 and the MACD histogram printed taller green bars, reflecting stronger short-term upward momentum.

Technical price levels provide defined support and resistance. Immediate support sits near $1.52, the upper edge of the prior accumulation zone, with deeper support around $1.38, the mid-range from which the rally launched. Near-term upside targets include $2.12, near the 0.382 Fibonacci retracement, and $2.74, near the 0.618 retracement. A sustained close below $1.38 would invalidate the breakout scenario.

The price action followed two cited developments. On April 30 Telegram confirmed it staked 2.2 million TON and would become the network’s largest validator. A protocol upgrade implemented on May 1 reduced transaction fees to about $0.0005, roughly one-sixth of previous levels. Telegram founder Pavel Durov has outlined a MTONGA roadmap aimed at positioning TON as a low-fee settlement layer for the messenger’s users.

Bitcoin posted a modest session gain while Toncoin outperformed many other altcoins during the move. Market observers noted the expanded volume during the breakout and the proximity of the price to the listed Fibonacci levels as data points for short-term price assessment.