After a sharp decline since May 14, Toncoin (TON) has bounced off the $3.00–3.05 demand zone and is currently in a rising channel.
This sudden trend reversal can partly be attributed to Telegram’s move to restrict two sprawling digital black markets that operated on Telegram, which is closely tied to Toncoin.
Xinbi and Huione’s removal from Telegram spurs Toncoin price
On Thursday, Telegram announced that it had removed two Chinese-language digital black markets from its platform.
These markets, named Xinbi Guarantee and Huione Guarantee, blatantly violated Telegram’s terms of service. Reportedly, the two actively engaged in criminal activities such as scamming and money laundering.
Collectively, Xinbi Guarantee and Huione Guarantee facilitated over $35 billion in transactions since 2021.
Blockchain research firm Elliptic emphasised the critical importance of this removal, stating that the action delivers a significant blow to online fraudsters.
These fraudsters heavily relied on the markets for stolen data and money laundering services.
While Huione Guarantee, a key part of the Cambodia-based Huione Group, has officially confirmed its closure, Xinbi Guarantee is desperately attempting to relaunch as “Xinbi 2.0” on new Telegram channels.
Although the markets primarily used Tether (USDT) for transactions, their removal markedly improves Telegram’s reputation and boosts TON’s image, given the blockchain’s deep ties to Telegram.
By proactively cleaning up its ecosystem, Telegram may attract more legitimate users to the TON network.
Consequently, this shift could significantly increase demand for Toncoin and bolster its price recovery.
Toncoin price prediction: can TON reach $4?
Currently, Toncoin is trading at approximately $3.15, after impressively rebounding from the $3.00–$3.05 demand zone.
As it steadily rises within a rising channel, technical analysis distinctly shows a symmetrical triangle pattern on the daily chart. This pattern strongly suggests a potential significant price breakout.
Notably, the price is rapidly approaching the apex of the triangle, and Crypto expert Ali has noted that a breakout could trigger a 47% price surge.
Ali
@ali_charts
·Follow
#Toncoin $TON is consolidating within a triangle pattern, and a breakout could trigger a 47% price move!
6:36 pm · 15 May 2025
88
Reply
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Read 19 replies
Specifically, a bullish breakout above $3.55–$3.60 could propel TON toward $4.40–$5.50.
While reaching $4 would demand a substantial upward move, support levels are firmly established at $3.00 and $2.85–$2.90, offering a reliable safety net.
Additionally, traders are closely monitoring volume trends for confirmation. A breakout accompanied by increasing volume would solidly confirm the move’s strength.
Conversely, low volume could ominously signal a false breakout.
Therefore, while not guaranteed, TON holds the potential to reach $4 if bullish momentum persists.
The post Toncoin (TON) rising after Telegram restricted two sprawling digital black markets appeared first on Invezz
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Toncoin (TON) rising after Telegram restricted two sprawling digital black markets
This sudden trend reversal can partly be attributed to Telegram’s move to restrict two sprawling digital black markets that operated on Telegram, which is closely tied to Toncoin.
Xinbi and Huione’s removal from Telegram spurs Toncoin price
On Thursday, Telegram announced that it had removed two Chinese-language digital black markets from its platform.
These markets, named Xinbi Guarantee and Huione Guarantee, blatantly violated Telegram’s terms of service. Reportedly, the two actively engaged in criminal activities such as scamming and money laundering.
Collectively, Xinbi Guarantee and Huione Guarantee facilitated over $35 billion in transactions since 2021.
Blockchain research firm Elliptic emphasised the critical importance of this removal, stating that the action delivers a significant blow to online fraudsters.
These fraudsters heavily relied on the markets for stolen data and money laundering services.
While Huione Guarantee, a key part of the Cambodia-based Huione Group, has officially confirmed its closure, Xinbi Guarantee is desperately attempting to relaunch as “Xinbi 2.0” on new Telegram channels.
Although the markets primarily used Tether (USDT) for transactions, their removal markedly improves Telegram’s reputation and boosts TON’s image, given the blockchain’s deep ties to Telegram.
By proactively cleaning up its ecosystem, Telegram may attract more legitimate users to the TON network.
Consequently, this shift could significantly increase demand for Toncoin and bolster its price recovery.
Toncoin price prediction: can TON reach $4?
Currently, Toncoin is trading at approximately $3.15, after impressively rebounding from the $3.00–$3.05 demand zone.
As it steadily rises within a rising channel, technical analysis distinctly shows a symmetrical triangle pattern on the daily chart. This pattern strongly suggests a potential significant price breakout.
Notably, the price is rapidly approaching the apex of the triangle, and Crypto expert Ali has noted that a breakout could trigger a 47% price surge.
Ali
@ali_charts
·Follow
#Toncoin $TON is consolidating within a triangle pattern, and a breakout could trigger a 47% price move!
6:36 pm · 15 May 2025
88
Reply
Copy link Read 19 replies
Specifically, a bullish breakout above $3.55–$3.60 could propel TON toward $4.40–$5.50.
While reaching $4 would demand a substantial upward move, support levels are firmly established at $3.00 and $2.85–$2.90, offering a reliable safety net.
Additionally, traders are closely monitoring volume trends for confirmation. A breakout accompanied by increasing volume would solidly confirm the move’s strength.
Conversely, low volume could ominously signal a false breakout.
Therefore, while not guaranteed, TON holds the potential to reach $4 if bullish momentum persists.
The post Toncoin (TON) rising after Telegram restricted two sprawling digital black markets appeared first on Invezz