Toncoin surged over 30% and even coins across the $TONS The ecosystem recovered after Telegram founder Pavel Durov said his company would become the driving force behind the network.
Telegram becomes the largest validator on the network and focuses on core technical development. A revamped ton.org, new developer tools, and performance upgrades are all expected within two to three weeks.
Toncoin rose from $1.37 to $1.84 in 24 hours, bringing its market value to $4.5 billion. During the same period, trading volume jumped 600% to over $630 million.
Meanwhile, the combined market capitalization of $TONSMeme-based meme tokens rose 67% in a single day, according to CoinGecko.
Notcoin, a to-earn token that has gained traction through Telegram mini-apps, soared 26%. Dogs, a community meme token originating from $TONSexceeded 90%.
Although a 90% jump in Dogs seems remarkable, it occurred after the token had already given up the vast majority of its prior gains. Dogs is still down about 96% from its high, while Notcoin is about 98% below its all-time high of around $0.029, trading near $0.0004.
Small-cap tokens showed stronger movements. Morfey exploded by almost 1,000%. Resistance Duck jumped 645%. Cubigator rebounded 390%.