#Stablecoin Payments Hit $94.2B

On May 28, Toncoin (TON) updated its maximum since early April, rising to $3.69. The native token of the TON blockchain surged sharply amid a series of news regarding the ecosystem's plans and its closely related messenger Telegram.
After soaring to a local maximum, the price of Toncoin has corrected. As of 14:00 MSK on May 29, the price of the coin is hovering around $3.33. Over the past day, it has increased by 2%, but TON is trading at a rate that is 59% lower than its maximum of $8.24, which was recorded nearly a year ago, in June 2024.
The interest of large investors in Telegram bonds, issued for $1.5 billion, and strong financial results for 2024 indicate that the company is on solid ground, investors are ready to support the project, and thus the associated token receives additional demand, says ENCRY Foundation co-founder Roman Nekrasov. Moreover, according to him, the development of payments in the TON ecosystem, which will be overseen by new top manager Nikola Plecas, can directly increase the utility and demand for TON.
And finally, he noted that Pavel Durov announced a partnership between Telegram and Elon Musk's AI startup xAI. The messenger promises to integrate the chat bot Grok, while Telegram will receive $300 million and the right to half of the subscription revenue. The expansion of services based on artificial intelligence will further invigorate the network and attract new users, the expert believes.
# TON