Toncoin (TON) Drops 7% as Musk Denies xAI-Telegram Partnership Rumors

BTCC / BTCC Square / Global Cryptocurrency /

Author:

Release Time:

2025-05-31 12:55:15

[TRADE_PLUGIN]TONUSDT,TONUSDT[/TRADE_PLUGIN] Toncoin TON News -

Toncoin (TON) fell over 7% to below $3 after Elon Musk refuted speculation about a formal collaboration between xAI and Telegram. The cryptocurrency had initially jumped to $3.65 following hints of a partnership from Telegram CEO Pavel Durov, but is now trading 17% below its recent high.

Market sentiment reversed sharply when Musk stated no agreement had been finalized, despite Durov’s later assertion of an ’in principle’ arrangement. This volatility underscores how crypto markets can react swiftly to unconfirmed tech industry rumors.

Telegram’s massive 700 million-user network continues to present long-term potential for TON, with in-app cryptocurrency payments still being implemented. Traders are now monitoring the $3.00-$3.22 price range for the next market movement indicators.

By:

Log in to Reply

Elden Ring Nightreign Sees Strong Steam Debut with Over 2M Players

Articles on this site are sourced from public networks or curated by AI for informational purposes only and do not represent BTCC’s views. Original rights belong to the respective authors. For copyright concerns, please contact [email protected]. BTCC assumes no liability for the accuracy, timeliness, or completeness of this information, and disclaims all liability arising from reliance on such content. This content is for reference only and should not be taken as investment, legal, or commercial advice.