Toncoin (TON) has rallied nearly 10% over the past week, with its price climbing from the $1.45–$1.50 support zone to test the key resistance level of $1.705. This upward momentum coincides with a major development: Telegram has officially rolled out its TON-based self-custodial wallet to users in the United States.
The launch marks a significant milestone, as it is the first time American users can seamlessly send, swap, and store cryptocurrencies—including TON, Tether's USDT, and NFTs—directly within the mainstream Telegram messaging app. This integration is seen as a major step in reducing user friction and driving mainstream adoption of the TON ecosystem.
Despite the price surge and bullish technical indicators—including a bullish MACD crossover and the price approaching the upper Bollinger Band—the network's on-chain DeFi activity remains modest. Total Value Locked (TVL) stands at approximately $85 million, which is still below its previous highs. However, stablecoin supply on the network remains robust at nearly $960 million, and daily app revenue and fees show consistent user activity, indicating a solid base of utility even if long-term liquidity is building slowly.
Market sentiment is overwhelmingly bullish. Derivatives data shows Open Interest has increased by 7.27% to $103 million, with long positions outnumbering short positions by a ratio of nearly 3:1. While the Stochastic RSI suggests the asset may be overbought in the short term, potentially leading to a minor correction toward the $1.57 imbalance zone, the dominance of long positions signals strong trader confidence in a continued upward trajectory if the $1.705 resistance is decisively broken.
