While the world's eyes are fixed on Washington, The Open Network (TON) is experiencing one of its strongest rallies in months. In recent days, the coin has jumped from $1.30 to $2.89, achieving gains of over 115%!
What's happening behind the scenes? Is this just a technical rally? Or are Trump's decisions igniting a true "altcoin season"?
📈 The Core Reasons Behind TON's Rise
Two fundamental drivers stand behind TON's strong performance — one related to the coin itself, the other to the regulatory environment:
1. Telegram Takes the Lead (MTONGA):
On May 4, 2026, Telegram founder Pavel Durov announced that the app would replace the "TON Foundation" to become the network's largest validator, while reducing transaction fees sixfold to nearly zero.
· Immediate result: Sharp 36% rally within just 24 hours.
· Long-term impact: Integrating 950 million active Telegram users with a single blockchain means TON transforms from just another coin into the "fuel" for the world's largest messaging app.
2. Liquidity and Upcoming Upgrades:
Despite this rally, TON still suffers from relatively shallow liquidity (Total Value Locked was only ~$70 million in early May 2026). Investors are betting that upgrades like TON Teleport and TON Pay 2.0 will attract more liquidity from Bitcoin, potentially creating real demand that supports the price.
📊 Trump's Real Impact on TON
Here's the core question: Does Trump actually move TON?
The answer is: Yes, but indirectly and through two main channels:
🇺🇸 Channel One: The Regulatory Promise (Blessing or Curse?)
After Trump's victory, there was significant market optimism that his administration would be "crypto-friendly," prompting the TON Foundation to expand into the US market and appoint Manuel Stotz as its new president in anticipation of a regulatory upswing.
But! Anthony Scaramucci (former White House Communications Director) warns that Trump's current policies could be "poison" for legislation. Scaramucci pointed to three main reasons:
1. Stalled legislation: Trump launching his own memecoin before inauguration made Democrats unwilling to hand him any legislative victory, effectively stalling the CLARITY Act that would have provided regulatory clarity for TON.
2. War focus: Massive spending ($200 billion) on the military campaign in Iran consumes all political attention, pushing crypto files to the back burner.
3. Partisan gridlock: Without this regulatory clarity, Layer-1 coins like Solana, Avalanche, and TON remain in the "grey zone," unable to fully grow in America.
🌐 Channel Two: Geopolitical Calm
This factor connects back to your earlier question about BNB. Just like with BNB, any easing of tensions in the Strait of Hormuz (thanks to Trump's promises of free navigation) reduces inflationary pressure and lowers "fear" in the markets, pushing capital toward high-risk assets like TON. Global stability is an altcoin's best friend.