Toncoin (TON), the native cryptocurrency of Telegram’s blockchain ecosystem, posted a powerful breakout on May 28 following the announcement that former Visa executive Nikola Plecas has joined the TON Foundation as Vice President of Payments.
Plecas is expected to lead the strategic development of TON’s payment infrastructure, a move that has sparked strong bullish sentiment across the market.
TON Price Jumps Nearly 10% on Heavy Volume
According to CoinDesk Research’s technical analysis model, TON jumped from $3.00 to $3.27, registering a 24-hour range of 9.7%. The token exhibited exceptional buying momentum, highlighted by:
- Two-minute price spike from $3.18 to $3.29 between 10:53 and 10:55 UTC.
- Single-minute volume exceeding 2.1 million TON, nearly 20x the average minute volume for the period.
- Hourly volume spikes of 19.7M and 15.4M TON, signaling strong market conviction.
Technical charts show support forming at $2.97-$2.98, with new resistance at $3.27, suggesting the potential for further upside if volume sustains.
Strategic Appointment Boosts Market Confidence
The appointment of Nikola Plecas is widely seen as a validation of TON’s growing ambitions in the global payment space. Plecas brings years of expertise from Visa’s Central and Eastern Europe division, where he led innovation in cross-border payments and digital asset integration.
His role will focus on building scalable payment rails within the TON ecosystem, aligning with Telegram’s long-term plan to become a leader in decentralized applications and financial tools.
“Nikola’s leadership will be key as we continue to scale TON for real-world use,” said a TON Foundation spokesperson.
Altcoin Rally Supported by Broader Crypto Developments
The TON rally also coincides with broader positive sentiment in crypto markets after Trump Media and Technology Group announced a $2.5 billion capital raise to purchase Bitcoin. The move is interpreted by some analysts as a bullish macro trigger, potentially spilling over into stronger altcoin flows.
Technical Outlook: Breakout Validated, Watch $3.27 Resistance
Key Levels:
- Support: $2.97–$2.98
- Resistance: $3.27
- Volume Breakout Zone: $3.18–$3.29
Technical indicators show an ascending channel with higher lows, validating the breakout structure. While some profit-taking was observed after the initial rally, the sustained high volume and institutional headlines suggest continued upside is possible, particularly if TON can close above the $3.27 resistance in the coming sessions.
Conclusion
With a seasoned executive from Visa now shaping TON’s payments strategy and a surge in trading activity, Toncoin is increasingly positioned as a major altcoin to watch in 2025. The rally reflects both renewed investor confidence and growing use-case legitimacy, especially as the token expands beyond speculation into real-world finance.