On Tuesday, July 22nd, the crypto market witnessed heightened volatility ahead of the U.S. market hours but maintained its overall bullish trajectory. In the daily chart, Toncoin displays this movement with a large price spread from $3.196 to $3.59, with an intraday gain of 2.38%. The buying pressure supporting this asset is the recently launched TON Wallet for Telegram users in the U.S. But will the news-driven rally hold?
TON Wallet Goes Live in the U.S. via Telegram
Telegram has officially launched the TON wallet features for its U.S. users, marking a significant expansion of its blockchain-based services. The integration allows users to send, receive, and manage cryptocurrency on the messaging platform without the need to download another app, extension, or separate login.
The wallet will support various features, including stablecoin transfers, token swaps, and zero-fee crypto purchases through a partnership with MoonPay. It also offers an on-ramp/off-ramp service via debit cards and connects to decentralized applications in Telegram’s “Mini Apps.”
One of the key aspects of TON Wallet is its self-custodial nature, meaning users retain control over their own private keys. This approach facilitates a split-key backup system using the user’s Telegram account and their email, eliminating the hassle of downloading a wallet and remembering the seed phrases.
The U.S. launch of the TON wallet was primarily delayed due to the regulatory uncertainty. However, with the change in leadership and the recent passing of three crypto bills by the House of Representatives, Telegram could continue to expand its crypto service in the U.S.
With the ability to serve 87 million U.S. users, this wallet could substantially increase transaction volume on the TON network, further enhancing the adoption of its native cryptocurrency, Toncoin.
Toncoin Price to Enter Post-Rally Correction
Over the past two weeks, the Toncoin price has shown a high momentum rally from $2.26 to a recent high of $3.59, projecting a growth of 31%. In the daily chart, the bullish recovery gave a decisive breakout from the resistance trendline of a symmetric triangle.
Since mid-March 2025, the coin price has been resonating strictly within two converging trendlines, signaling a long accumulation phase.
However, the Internet has pushed it on coin price to currently trade at $3.39, signaling a potential post-rally correction in the making. If true, the coin price could plunge 6.2% down to test the support region at $3.18, currently coinciding with the 100-day exponential moving average.
The bearish pullback could allow buyers to replenish the exhausted bullish momentum before kick-starting the triangle breakout rally. With sustained buying, the price could chase the overhead resistance of $3.7 for its next major breakout.
