Key Developments in TON Ecosystem
- TON cryptocurrency experienced a notable 10% surge within 24 hours, with trading volume skyrocketing to $1.23 billion.
- A promising potential partnership worth $300 million has surfaced between Telegram and Elon Musk’s XAI, attracting significant investor interest.
- The Ton Foundation has appointed former Visa executive Nikola Plecas as the new Vice President of Payments.
The native token of The Open Network, TON, has surged nearly 10% in the last 24 hours, driven by a wave of developments involving its parent messaging platform, Telegram. This surge is also attributed to a dramatic increase in commercial activity associated with the token.
As of the latest reports, TON was trading at around $3.27, reaching a daily high of $3.69. Notably, the 24-hour trading volume has increased by an astounding 641%, surpassing $1.23 billion, as per CoinMarketCap data.
Institutional Interest and Excitement in Telegram Bonds
Adding to the bullish sentiment around TON, Telegram is reportedly in the process of launching $1.5 billion in bonds, drawing attention from major global investors, including financial giants like BlackRock, Citadel, and Mubadala.
The proposed five-year bonds are projected to yield a 9% return, showcasing robust institutional interest in Telegram’s recovery efforts. According to the Wall Street Journal, Telegram aims to generate $540 million in profits from $1.4 billion in revenue by 2024, representing a remarkable turnaround.
As Telegram amasses 1 billion monthly active users by March 2025, the anticipated growth in subscription revenue, alongside integrated services, has rekindled optimism for the entire TON ecosystem.
Partnership with Musk’s XAI: A Game-Changer?
Compounding this excitement is the announcement of a potential partnership between Telegram and Elon Musk’s XAI, although it is yet to be finalized. Pavel Durov, founder of Telegram, revealed that they have reached a one-year agreement valued at $300 million to incorporate the XAI Grok chatbot into the platform.
🔥 This summer, telegram users will have access to the best AI technology on the market. @elonmusk and I accepted a one-year partnership to bring xai @grok to our billions + users and integrate it into all telegram applications 🤝
💪 This also strengthens Telegram’s financial position… pic.twitter.com/zpk550ayrv
– Pavel Durov (@durov) May 28, 2025
Under the terms of the proposed agreement, Telegram is set to earn half of the XAI subscription revenue generated through its application. However, following Musk’s assertion that “no agreement has been signed,” the market saw a minor downturn. Durov clarified that while negotiations are agreed upon, formalities still remain.
Strategic Leadership Change: Plecas Joins TON Foundation
In another significant development for the TON ecosystem, the Ton Foundation has appointed Nikola Plecas, a former Visa executive, as the new Vice President of Payments. Plecas is well-regarded for his pivotal role in advancing Visa’s Crypto initiatives in Europe.
Plecas emphasized that joining TON presents an extraordinary opportunity to “shape the future of payments on a truly global scale.” His focus will be on developing a robust, compliant, and interoperable payment architecture to serve the billions of Telegram users effectively.
Max Crown, CEO of the Ton Foundation, described the payments infrastructure as a “core pillar” of the network’s roadmap, asserting that Plecas’s appointment is crucial for accelerating global adoption.
Disclaimer: Coinspeaker strives to provide impartial and transparent reporting. This article aims to deliver accurate and timely information but should not be construed as financial or investment advice. Always do your own research and consult a financial professional before making decisions based on this content.
Parth Dubey is a seasoned crypto journalist with over 5 years of experience in the digital finance industry. He has collaborated with leading media outlets in the crypto space and authored four self-published books, showcasing his expertise in navigating both bear and bull markets.