Toncoin's price dropped sharply, and investors attribute this to large-scale token sales by Telegram in 2025. Analysts are trying to understand what exactly prompted the company to sell such a significant volume of coins.
Telegram supporters claim everything is part of a well-thought-out strategy: vesting, gradual network decentralization, and long-term Toncoin accumulation, which, in their view, justify controlled sales.
Nevertheless, $TON has already lost more than 75% of its value from the 2024 peak and over 65% from the 2025 peak values. Many investors consider Telegram's actions the main factor behind the decline, which, according to estimates, involved selling tokens worth approximately 10% of the current circulating market capitalization of TON.
There is no consensus among experts regarding the consequences of such sales, but it is clear that the Toncoin price is reacting more strongly than ever to any news related to Telegram.
