Telegram’s Native Token Toncoin Jumps as TON Foundation Adds Former Visa Exec to Team

Crypto Markets — Toncoin (TON), the native token of The Open Network, surged on Wednesday following the announcement that a former senior Visa executive has joined the TON Foundation. The news ignited a wave of market activity, with prices breaking out of a recent range and trading volumes spiking sharply.

Market Response and Price Action

Toncoin’s price rallied from a consolidation zone between $2.97 and $3.04, climbing to an intraday high of $3.29 before stabilizing near $3.27. The move was accompanied by significant market enthusiasm, reflected in a substantial rise in trade volume.

Notably, a two-minute window between 10:53 and 10:55 UTC saw Toncoin jump from $3.18 to $3.29, driven by a single-minute volume of over 2.1 million TON, nearly 20 times the average for the period.

Technical Breakdown

• Support established at $2.97–$2.98, tested multiple times during the consolidation phase.
• Resistance emerged at $3.27, now a key threshold for bullish continuation.
• Hourly volumes peaked at 19.7 million and 15.4 million, reflecting a nearly 10x surge over standard hourly averages.
• An ascending trend channel formed, signaling sustained upside interest and momentum.

Strategic Significance

The addition of a former Visa executive to the TON Foundation is being interpreted as a pivotal moment in the project’s push toward greater institutional legitimacy and infrastructure development. Market participants responded positively, with short-term traders and longer-term investors both engaging in the breakout.

Outlook

Analysts are now watching for a decisive move above $3.30, which could confirm bullish continuation. If momentum persists and support holds, Toncoin may be poised for further appreciation, especially as its strategic roadmap gains traction in the institutional landscape.