Toncoin (TON) has emerged as the standout performer among the top 100 cryptocurrencies by market cap, posting a 6% gain over the last 24 hours. The rally extends to 11.1% over two weeks and 8.2% for the month, though weekly and year-to-date figures remain in negative territory.

Whale accumulation appears to be driving momentum, with 189,730 TON tokens scooped up by large holders in Q1 2026. This buying spree coincides with network upgrades announced by Telegram founder Pavel Durov, including sixfold fee reductions and scalability improvements that have bolstered market sentiment.

Despite Arkham's recent termination of blockchain support, the project continues to attract capital. Market watchers are now speculating whether the $2 psychological barrier could be tested if institutional interest persists.