Telegram cuts TON fees; analysts say Toncoin may top $10 by 2029

Telegram reduced transaction fees on The Open Network (TON) by about sixfold and announced it has become the network’s largest validator. The company outlined forthcoming technical upgrades aimed at improving performance.

The fee cut coincided with higher on-chain activity. Memecoin trading volumes and broader transaction counts rose as users reacted to lower fees and Telegram’s increased operational role.

Market data show Toncoin jumped 22.4% in 24 hours in early May and about 75% over 30 days, with trading volume rising to roughly $1.03 billion. At the latest reported level Toncoin traded around $2.19 and had a market capitalization near $5.9 billion. The token’s all-time high is $8.24 on June 15, 2024; its all-time low is $0.3906 on Sept. 20, 2021.

Technical indicators are mixed. Daily moving averages across short- and long-term periods are signaling buy. Four-hour charts show higher highs and higher lows over recent sessions. The daily relative strength index reached about 90, an overbought reading that raises the chance of a short-term pullback. Traders are watching whether Toncoin holds support near $2.00 and clears resistance around $2.37.

Analyst models offer a range of forecasts. One projection puts a 2026 high at $3.35. Forecasts for 2028 range from $7.26 to $9.49, averaging about $7.60. Some models place 2029 averages above $10. A 2030 range in these forecasts is $17.71 to $20.42, averaging roughly $18.27. Forecasts include caveats that regulatory changes, market crashes or other adverse events could invalidate projections.

TON launched in 2018 as the Telegram Open Network and later became The Open Network after governance moved to the TON Foundation. A large portion of the token supply was distributed through Giver smart contracts; mining was open until June 28, 2022, with about 200,000 TON mined daily during the distribution period.

Industry participants are monitoring whether the planned upgrades proceed as scheduled and whether the recent rise in activity is sustained. Analysts flag short-term volatility as likely and note that longer-term price trajectories will depend on adoption, developer activity and the broader crypto market cycle.