TON price doubles after Telegram made a move critics say cuts against crypto’s core promise

What happened

TON has doubled as traders bet Telegram is turning the blockchain into the financial layer of its messaging empire. Toncoin (TON) surged from roughly $1.32 on May 1 to an intraday high of $2.90 by May 7, pushing its market cap to approximately $7.8 billion. The catalyst was.