Toncoin jumps ~10% as Telegram launches U.S. self-custodial wallet; usage rising but liquidity lags
Toncoin (TON) rose nearly 10% over the past week after Telegram launched its self-custodial wallet in the U.S., allowing American users to send, swap and store crypto (including TON and USDT) inside the messaging app. Price recovered from the $1.45–$1.50 zone and pushed toward $1.63, with RSI improving, MACD turning bullish and price moving to the upper Bollinger Band — indicating increased volatility and bullish momentum. On-chain activity shows steady usage: stablecoin supply on TON is near $960 million and daily app revenue/fees are consistent, but DeFi total value locked (TVL) remains modest around $85 million, well below previous highs. The takeaway for traders: the Telegram wallet rollout removed UX friction and has driven retail interest and price upside, but capital depth and long-term liquidity on Toncoin are still limited. Expect elevated short-term volatility and potential follow-through if liquidity and TVL pick up; absence of significant capital inflows could produce pullbacks despite positive sentiment.
Bullish
Telegram’s U.S. self-custodial wallet is a clear UX catalyst: embedding TON, USDT and other assets into a mainstream messaging app materially lowers onboarding friction and can drive retail usage. The near-10% price gain, improved RSI, bullish MACD and movement to the upper Bollinger Band indicate positive short-term momentum and heightened volatility — signals traders interpret as bullish. However, the network’s DeFi TVL (~$85M) remains small while stablecoin supply (~$960M) and consistent fees suggest active on-chain use without deep capital commitment. That combination points to a likely two-phase market response: an initial bullish phase driven by retail inflows and sentiment (short-term price appreciation and volatility), followed by a potential consolidation or pullback unless institutional or large DeFi liquidity arrives to sustain higher price levels. Similar past events — wallet integrations or major app listings (e.g., exchanges listing a token or major platform integrations) — often produce an immediate price bump and volume spike; longer-term price retention depended on sustained liquidity and TVL growth. For traders: consider momentum-based strategies and tight risk controls for short-term long positions, watch TVL and capital flows for confirmation of a durable trend, and be prepared for rapid reversals if liquidity stays shallow.