On May 20, 2025, the 4-hour chart of TON Coin (TONUSD) displays the formation of a falling wedge pattern. A falling wedge is a bullish reversal structure where the price moves between two downward-sloping, converging trendlines, often indicating weakening selling pressure.
If the pattern confirms, the price may surge approximately 19% from the current level, targeting the $3.6278 resistance zone.
Meanwhile, the 50-period Exponential Moving Average (EMA) stands at $3.1287, acting as near-term dynamic resistance. TON Coin has tested this EMA several times during the wedge formation but has yet to break above it.
At the same time, the Relative Strength Index (RSI), a momentum indicator, reads 44.67 and remains close to the neutral 50 line. This suggests that bearish momentum is fading, which often precedes an upward move.
In addition, the narrowing structure shows declining volatility, a classic sign that a breakout may be nearing. If TON closes above the wedge’s upper red trendline with strong momentum, it could confirm the reversal and trigger the projected rally toward $3.6278.
Telegram Shuts Down Two Black Markets Linked to $35B in Illicit Trades
On May 13, 2025, Telegram shut down two major Chinese-language digital black markets—Huione Guarantee (also known as Haowang Guarantee) and Xinbi Guarantee—citing violations of its terms of service related to scamming and money laundering. These platforms had collectively facilitated over $35 billion in transactions since 2021, significantly surpassing infamous dark web markets like Silk Road.
Following Telegram’s action, Huione Guarantee announced its closure, stating that all its Telegram channels and groups had been blocked. The crackdown was prompted by investigative findings from blockchain research firm Elliptic and inquiries from media outlets. Elliptic’s reports highlighted the enormous volume of illicit transactions taking place on these platforms, which offered services such as money laundering, stolen data sales, and tools for online fraud.
In the aftermath, Toncoin (TON), the native cryptocurrency of the TON blockchain closely associated with Telegram, experienced a rebound. After a sharp decline that began on May 14, TON bounced off the $3.00–$3.05 demand zone, confirming strong buyer interest at that level.
The 4-hour chart shows TON trading at $3.0499 as of May 20, 2025. It continues to hold above the key support zone while attempting to recover within a rising channel. The price now faces immediate resistance at the 50-period Exponential Moving Average (EMA), which sits at $3.1262.
If buyers manage to push the price above this EMA, the next short-term target could be the $3.25–$3.35 range. The recent recovery follows Telegram’s move to shut down two major digital black markets, which may have helped stabilize sentiment across the TON ecosystem.
This sequence of events underscores Telegram’s commitment to enforcing its terms of service and the potential impact such actions can have on associated digital assets like Toncoin.
TON Foundation Names MoonPay Co-Founder Maximilian Crown as New CEO
Before that the TON Foundation has appointed Maximilian Crown, co-founder of crypto payments company MoonPay, as its new Chief Executive Officer. The move follows a recent internal restructuring.
Crown joins TON as the foundation aims to scale blockchain adoption by tapping into Telegram’s massive user base. His background in fintech and crypto payments positions him to lead this next phase of growth.
Just weeks before the announcement, TON secured a $400 million funding round from global venture capital firms. This funding sets the stage for more aggressive expansion and institutional partnerships.
With Crown now leading the foundation, TON plans to increase its focus on ecosystem integration. The foundation said he will oversee efforts to onboard 30% of Telegram’s active users to the TON blockchain by 2028.
