Toncoin (TON) has significantly declined from its 2024 peak, with investors attributing the slump to Telegram selling a substantial amount of the cryptocurrency. Critics claim Telegram’s sales, reportedly over $450 million in 2025, were primarily for corporate funding, hindering TON’s long-term value. Some investors highlight the negative impact on TON’s price.
However, defenders argue Telegram remains committed to the TON blockchain, emphasizing that sold TON is subject to vesting. They claim sales help decentralize the ecosystem, preventing Telegram from accumulating too much TON. Furthermore, Telegram CEO Pavel Durov denies dependence on Russian capital. The credibility of these defenses hinges on TON’s price recovery and restored investor confidence.
