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What is expected in the development of TON?

Toncoin’s roadmap is focused on growing its ecosystem, upgrading technology, and strengthening its connection with Telegram.

  1. Stable Swap Launch (Q4 2025) – Introducing cross-chain stablecoin swaps through a partnership with Curve Finance.
  2. TON Teleport Mainnet (Early 2026) – A native bridge to move Bitcoin onto TON by creating tgBTC (wrapped Bitcoin).
  3. TON Wallet 2.0 (2026) – Improved Telegram wallet features including support for multiple accounts.
  4. TON Proxy & Decentralized Web (2026) – Tools for censorship-resistant browsing and decentralized storage.

Deep Dive

1. Stable Swap Launch (Q4 2025)

Overview: TON Foundation is teaming up with Curve Finance to launch a system that makes swapping stablecoins (cryptocurrencies pegged to stable assets like the US dollar) easier and less costly on the TON network. This system, called a Constant Function Market Maker (CFMM), helps reduce price swings and trading costs for assets like USDT-TON. There’s also a $5 million incentive program to encourage liquidity providers, focusing on decentralized finance (DeFi) projects like STON.fi and DeDust.
What this means: This is a positive step for TON’s DeFi growth, potentially attracting more users and making trading smoother. However, it faces competition from established stablecoin pools on networks like Ethereum and Solana, which could impact its success.

2. TON Teleport Mainnet (Early 2026)

Overview: After testing in late 2025, TON Teleport will allow users to convert Bitcoin into tgBTC, a version of Bitcoin that works natively on the TON blockchain. This is supported by a decentralized oracle network, which helps verify transactions securely. This move supports TON’s vision to connect multiple blockchains (KoinSaati).
What this means: This feature could increase TON’s usefulness by linking it directly with Bitcoin, the largest cryptocurrency. Its success depends on how easy and secure the process is for users.

3. TON Wallet 2.0 (2026)

Overview: With over 100 million wallets created through Telegram, TON plans to upgrade its wallet to support multiple accounts, allow easy purchases with Apple Pay and Google Pay, and offer rewards for staking USDe (a decentralized version of the US dollar). The $400 million raised in 2025 will help build compliance systems for U.S. and European markets.
What this means: These improvements could make it much easier for everyday users to join and use TON, leveraging Telegram’s massive user base to boost activity on the network.

4. TON Proxy & Decentralized Web (2026)

Overview: TON Proxy (already 90% complete according to the TON primer) and TON Sites aim to create a decentralized internet experience. This includes hosting websites and managing domain names without central control, using TON Storage to keep content safe from censorship. This effort ties into recent moves to integrate blockchain data with services like AWS.
What this means: This is an ambitious project with big potential but also significant challenges, including technical scalability and regulatory concerns about decentralized services.

Conclusion

Toncoin’s roadmap highlights key areas like increasing DeFi liquidity, enabling cross-chain connections, and deepening its integration with Telegram. While innovations like TON Teleport and TON Proxy could greatly expand TON’s capabilities, there are risks related to execution and market fluctuations. The big question remains: Will TON’s close link with Telegram’s huge user base lead to steady, real-world use beyond just trading speculation?


What updates are there in the TON code base?

Toncoin’s latest updates focus on improving tools for developers and making transactions faster and more efficient.

  1. Documentation Overhaul (November 19, 2025) – AI-powered guides and reorganized content make it easier to find information.
  2. Jetton 2.0 Upgrade (September 10, 2025) – Token transfers are now three times faster thanks to smarter smart contracts.
  3. TVM v12 Integration (October 15, 2025) – An upgraded virtual machine that runs contracts more efficiently and lowers fees.

Deep Dive

1. Documentation Overhaul (November 19, 2025)

What happened: TON revamped its developer portal using AI to create interactive Q&A and simplified navigation. The update also includes contributions from blockchain experts and converts Dr. Nikolai Durov’s original whitepapers into easy-to-read web formats. This helps new developers get started faster and makes troubleshooting smoother.
Why it matters: Easier-to-use documentation encourages more developers to build apps on TON, which can speed up the growth of the entire ecosystem. (Source)

2. Jetton 2.0 Upgrade (September 10, 2025)

What happened: Jetton 2.0, TON’s token standard, now processes transfers three times faster by optimizing how smart contracts handle transactions and grouping them in batches. This cuts the average transfer time from about 2.1 seconds to 0.7 seconds.
Why it matters: Faster token transfers improve the user experience, but decentralized apps (dApps) need to update to the new standard to benefit. This makes the impact neutral overall for TON right now. (Source)

3. TVM v12 Integration (October 15, 2025)

What happened: The TON Virtual Machine (TVM) version 12 added new commands that allow for more complex contract logic and reduced transaction fees by roughly 18%. This update is required for network validators and improves overall network stability.
Why it matters: Lower fees and more powerful smart contracts can attract more developers and users, which is a positive sign for TON’s future. (Source)

Conclusion

TON’s recent improvements focus on making it easier for developers to build on the platform and speeding up transactions. While Jetton 2.0 and TVM v12 strengthen the technical foundation, the real test will be how smoothly existing projects transition to these upgrades. The question remains: how quickly will TON’s ecosystem grow by welcoming the next generation of users?


What could affect the price of TON?

Toncoin’s price is caught between the rapid growth of Telegram’s ecosystem and the unpredictable moves of large holders (whales).

  1. Telegram Integrations – Features like tokenized stocks, AI tools, and access to over 900 million users are driving adoption (positive).
  2. Whale Concentration – Large wallets control 68% of Toncoin’s supply, increasing the risk of price swings (negative).
  3. Regulatory Changes – New stablecoin laws and potential Federal Reserve rate cuts affect overall market liquidity (mixed).

Deep Dive

1. Telegram Ecosystem Expansion (Positive Impact)

Overview: Toncoin is becoming a key player within Telegram’s platform. This includes trading tokenized U.S. stocks, AI-powered decentralized finance (DeFi) tools like COCOON, and unique digital collectibles such as Lamborghini NFTs. In November 2025, over 217 projects joined TON Builders, and the STON.fi decentralized exchange saw a 15% increase in liquidity month-over-month.

What this means: With Telegram’s massive user base of more than 900 million people, Toncoin adoption could accelerate quickly. This would increase demand for Toncoin as both a payment method and a staking asset. Past trends, like USDT reaching $1 billion in total value locked (TVL) on TON in 2024, suggest that real-world use cases can drive price growth.

2. Whale Holdings & Supply Risks (Negative Impact)

Overview: Large holders, or whales, control over 68% of Toncoin’s total supply. Meanwhile, holders who have kept their coins for less than a year make up less than 20%. This uneven distribution means that if whales decide to sell, it could cause sharp price drops. For example, in June 2025, Toncoin’s price fell 65% from its all-time high.

What this means: The heavy influence of whales can lead to unstable prices. If Toncoin’s price falls 5% below the current support level of $1.59, it could trigger a chain reaction of forced sales, similar to the 27% monthly drop seen in November 2025.

3. Macro Liquidity & Regulation (Mixed Impact)

Overview: The Federal Reserve is expected to cut interest rates by 84% in December 2025, which could increase liquidity in crypto markets. Additionally, Uzbekistan’s plan to legalize stablecoins in 2026 may bring more capital into the space. However, Toncoin’s close ties to Telegram also bring regulatory challenges. For instance, the UAE rejected a visa program linked to TON in July 2025.

What this means: While broader crypto market rallies—like Bitcoin’s 4% price jump during Thanksgiving—could boost Toncoin, regional regulatory crackdowns or demands for user data sharing (such as Telegram providing IP addresses) might slow down growth.

Conclusion

Toncoin’s future depends on how well it balances Telegram’s growing user adoption with the risks posed by whale-driven price swings and regulatory scrutiny. A price move above $1.80 (the 200-day exponential moving average) could indicate a recovery, while falling below $1.50 might lead to deeper declines. Will Telegram’s planned U.S. wallet launch in 2026 spark the next price surge, or will whale sell-offs keep Toncoin under pressure?


What are people saying about TON?

Toncoin’s connection to Telegram is stirring up debate: some investors are optimistic about the ecosystem’s growth, while others worry about price swings caused by large holders. Here’s what’s trending:

  1. Potential price surge to $18 vs. risks of a downward trend
  2. Listings on Coinbase and Gemini boosting adoption hopes
  3. 68% of the supply controlled by large holders raising concerns about stability

Deep Dive

1. @ali_charts: Rising Wedge Breakout or Bust? Mixed

“TON is tightening inside a rising wedge. Break above $3.39 could push to $4.3; failure risks drop to $2.60.”
– @ali_charts (163K followers · 788K impressions · September 2, 2025, 07:58 UTC)
View original post
What this means: This chart pattern shows Toncoin is at a critical point. If the price breaks above $3.39, it could trigger a buying frenzy. But if it fails, the price might fall to $2.60, especially since trading volume is low (2.49% turnover), which can increase volatility.

2. @gabrelyanov: Ecosystem Expansion Goes Nuclear Bullish

“Coinbase Ventures + AWS integrations, $84.5M memecoin volume (+113% MoM). $TON & $TONX = 2026’s top plays.”
– @gabrelyanov (94.3K followers · 3.9M impressions · September 10, 2025, 16:23 UTC)
View original post
What this means: Big-name support from Coinbase and upgrades like Jetton 2.0 (a new infrastructure feature) are making Toncoin stronger as Telegram’s main blockchain. However, the growing memecoin activity adds some risk since memecoins are often highly speculative.

3. CoinMarketCap: Whale Domination Alert Bearish

“68% of TON supply held by whales; less than 20% held long-term. Price dropped 65% from all-time high, testing $2.80 support.”
– CoinMarketCap Community (June 27, 2025, 01:43 UTC)
View original post
What this means: Most of Toncoin’s supply is controlled by a few large holders (“whales”), which could lead to big sell-offs if they decide to exit. This risk is made worse by fading excitement around “tap-to-earn” features and a 27.6% drop in active wallets compared to last year.

Conclusion

The outlook for Toncoin is mixed. On one hand, Telegram’s massive user base (900 million) and ecosystem improvements (like AWS and Coinbase partnerships) suggest strong long-term potential. On the other hand, the heavy concentration of coins in whale wallets and technical challenges create near-term risks. Key things to watch are whale wallet activity and Telegram’s upcoming Web3 features in Q4. If Toncoin can break above $3.50, it could confirm a bullish trend—but investors should be cautious given the low trading volume and volatility in this altcoin.


What is the latest news about TON?

Toncoin is navigating a mix of regulatory developments and ecosystem growth, even as it trails behind the broader crypto market’s recent rebound. Here are the key updates:

  1. Uzbekistan’s Stablecoin Pilot (Nov 28, 2025) – TON’s blockchain could support Central Asia’s first regulated stablecoin payments.
  2. Cautious Derivatives Sentiment (Nov 27, 2025) – TON’s funding rates have turned positive, but altcoins like TON are still lagging behind Bitcoin’s recovery.
  3. Telegram’s AI & Stock Trading Push (Nov 24, 2025) – Integration of COCOON AI and tokenized stock trading is expanding TON’s real-world uses.

Deep Dive

1. Uzbekistan’s Stablecoin Pilot (Nov 28, 2025)

Overview: Starting January 2026, Uzbekistan will allow licensed companies to issue tokenized securities and test stablecoins for payments. TON’s blockchain is well-positioned to support this effort because of its existing integration with Telegram and compliance with local regulations. The pilot program, overseen by the National Agency for Perspective Projects, emphasizes energy-efficient blockchain protocols (including solar-powered mining) and strict identity verification (KYC) rules.

What this means: This development is cautiously positive for TON. It could open new use cases in payments and securities, but strict regulations—like $20,000 monthly fees for exchanges—might slow growth in the short term. Uzbekistan ranks 33rd globally in crypto adoption, and TON’s existing presence in Central Asia could help it play a bigger role if the pilot succeeds. (Yahoo Finance)

2. Cautious Derivatives Sentiment (Nov 27, 2025)

Overview: TON’s price has been steady around $1.60 but is underperforming compared to Bitcoin, which gained 6.8% over the past week. Data from derivatives markets shows that funding rates for TON perpetual swaps have turned positive, indicating traders are becoming more optimistic after weeks of betting against it. However, overall trading activity remains low—open interest is still 40% below October levels—reflecting ongoing caution toward altcoins.

What this means: The signals are mixed. Positive funding rates suggest TON might have found a short-term bottom, but low trading volume and the fact that large holders control 68% of the supply could limit price gains. Traders are watching the $1.59 support level closely; if it breaks, it could trigger forced selling. (Yahoo Finance)

3. Telegram’s AI & Stock Trading Push (Nov 24, 2025)

Overview: Telegram has launched COCOON, a decentralized AI network created by founder Pavel Durov, and introduced tokenized U.S. stock trading through TON wallets. Users can now trade shares of companies like Apple and Tesla, with TON serving as the settlement layer. The TON ecosystem also added 217 new projects in October, including Lamborghini NFTs and Bitstamp’s listing on TON.

What this means: This is a positive development for TON. COCOON connects artificial intelligence with decentralized finance (DeFi), while tokenized stock trading leverages Telegram’s massive user base of over 900 million. Technical indicators like a double-bottom price pattern and a rebound in the Relative Strength Index (RSI) support improving fundamentals, though TON’s price remains about 80% below its all-time high. (TokenPost)

Conclusion

Toncoin’s future depends on regulatory progress in emerging markets, recovery in derivatives trading, and continued innovation within Telegram’s ecosystem. While broader economic uncertainty and risks around altcoin liquidity remain, TON’s unique position at the intersection of AI, tokenized assets, and a large user base could set the stage for growth. The big question is whether Telegram’s community will drive TON to break out or if it will stay tied to the overall market trends.


Why did the price of TON fall?

Toncoin (TON) dropped 1.71% to $1.59 over the last 24 hours, underperforming Bitcoin (+0.58%) and Ethereum (+0.32%). Here’s why:

  1. Altcoins Lagging Behind – TON is trailing Bitcoin and Ethereum gains as investors favor safer bets during a "Bitcoin Season" (Altcoin Season Index at 22/100).
  2. Cautious Derivatives Market – Although funding rates for TON futures turned positive, overall trading interest is still 20% below levels before the recent selloff (Bybit/Block Scholes).
  3. Whale Concentration Risks – Large holders control 68% of TON, which could lead to more price swings (CoinMarketCap Community).

Deep Dive

1. Market-Wide Risk Aversion (Negative for TON)

Overview:
The crypto market is currently in a "Fear" phase (Fear & Greed Index at 20/100). Bitcoin dominates with 58.54% market share, causing money to flow away from altcoins like TON.

What this means:
TON’s 1.71% decline fits the pattern of altcoins underperforming Bitcoin (+0.58%). Lower trading volume makes price moves more extreme—TON’s 24-hour volume of $97 million is 44% below its 30-day average.

What to watch:
Bitcoin holding above $90,000 is crucial. If it falls below, altcoins like TON could face sharper declines.

2. Derivative Market Caution (Mixed Signals)

Overview:
TON’s perpetual futures funding rate recently turned slightly positive (+0.0015%) after a weekend of short selling. However, open interest (the total value of active contracts) remains low at $190 million, down 20% from November highs.

What this means:
Traders are slowly rebuilding long positions but remain cautious. Low participation means TON is vulnerable to sudden price drops if volatility increases. Around $84 million in TON futures could be liquidated in a sharp move.

What to watch:
If funding rates stay positive for longer, it could indicate growing confidence and accumulation.

3. Whale Supply Concentration (Potentially Negative)

Overview:
According to CoinMarketCap, 68% of TON’s supply is held by large wallets ("whales"). Less than 20% is held by long-term holders, which raises concerns about selling pressure during downturns.

What this means:
Large holders can cause big price swings. The recent price drop coincided with increased transfers from top wallets. Historically, TON experiences daily price swings of 5-7% when whale activity spikes.

What to watch:
Watch for sudden increases in TON deposits to exchanges, which may signal upcoming selling.

Conclusion

TON’s recent decline reflects broader market caution, hesitant futures traders, and volatility driven by large holders. While the Relative Strength Index (RSI) at 35 suggests TON might be oversold, a recovery depends on Bitcoin’s stability and less selling from whales.

Key levels to watch: