The price of TON token more than doubled in the past week, driven by founder Pavel Durov’s renewed hands-on involvement and a new initiative called MTONGA. Durov said he plans to become the network’s largest validator and promised fee reductions, pushing daily swap volume on the decentralized exchange STON.fi from about $1.5 million to over $40 million.
Durov’s MTONGA Initiative
Durov announced MTONGA (Make TON Great Again) as a personal pledge to take direct control of network management. He said he would operate the largest validator on the blockchain, a move that signals deeper commitment after years of relatively hands-off oversight. The announcement also included plans to cut transaction fees, a step aimed at making the network more accessible for developers and users.
DeFi Activity Explodes on STON.fi
The price rally triggered a surge in decentralized finance activity. Daily swap volume on STON.fi, the leading DEX on TON, jumped 26-fold from roughly $1.5 million to more than $40 million. The increase reflects both new users entering the ecosystem and existing holders trading more aggressively as the token gained momentum.
Telegram’s Validator Stake
Telegram itself has launched several dozen validators that have collectively staked over 100 million TON. The move gives the messaging platform a significant role in network security and governance, tying Telegram’s infrastructure more directly to the blockchain’s performance. Durov’s plan to become the largest validator would further concentrate influence within the project’s founding team.
Mixed Views on Sustainability
Not everyone is convinced the rally will last. Market observers warn of high speculative momentum and FOMO, with a local correction seen as likely. Some analysts expect a pullback in the near term, while others are taking a wait-and-see approach. One expert, however, argues for long-term growth driven by mass-market integration — pointing to Telegram’s vast user base as a potential onboarding channel.
Whether the current price action reflects genuine adoption or a speculative spike remains the open question. Durov’s next steps — and whether the fee cuts actually materialize — will likely determine which camp proves correct.
