In 2025, Telegram reportedly sold over $450 million worth of Toncoin (TON), sparking controversy and debate within the cryptocurrency community. This move has raised questions about the motivations behind the sale and its impact on Toncoin’s value in the market.
Why Did Telegram Sell Toncoin?
According to a report from the Financial Times, Telegram’s decision to sell a significant portion of Toncoin was primarily aimed at funding its operational expenses. While this may have helped sustain Telegram’s services, it also generated concerns among investors. Critics argue that such sales undermine long-term value creation for Toncoin holders.
It’s worth noting that the Toncoin sale amounted to roughly 10% of its circulating market capitalization, contributing to a significant decrease in price. Toncoin lost more than 65% of its value in 2025 and is down over 75% from its 2024 peak.
Investor Reactions and Market Impact
The cryptocurrency community has expressed mixed reactions. Some investors have criticized the move, citing the lack of clear strategies to support the TON ecosystem. Others, however, believe it’s part of a necessary balancing act to ensure decentralization.
For example, Manuel Stotz, Executive Chairman of TON Strategy Co., defended Telegram’s approach. He emphasized that the sold Toncoin is subject to a four-year vesting period, ensuring controlled distribution rather than a sudden market dump. Furthermore, TON Strategy Co., one of the largest buyers of Toncoin, is focused on holding and staking the cryptocurrency long-term.
Decentralization vs. Centralization
A key argument from Telegram’s defenders is that controlled sales of Toncoin help promote decentralization. By distributing tokens to long-term buyers with lockups and vesting mechanisms, Telegram avoids excessive centralization of the cryptocurrency. This aligns with the ethos of blockchain technology, which prioritizes decentralization and transparency.
However, critics remain skeptical, pointing out that these sales coincide with Telegram’s financial struggles, including reports of frozen Russian bonds. Although Telegram’s CEO Pavel Durov denied financial dependency on Russia, the allegations have added to investor concerns.
Is This a Setback for Toncoin?
While Toncoin’s price has stagnated in the short term, some experts believe the project’s long-term potential remains intact. Telegram continues to integrate Toncoin into its platform for features such as in-app payments, user upgrades, and premium services. This steady adoption could drive demand for Toncoin as Telegram scales its services to millions of users worldwide.
One potential solution for investors concerned about cryptocurrency volatility is diversification. If you’re interested in exploring blockchain-powered payment ecosystems, consider investing in stablecoins as part of your strategy. Additionally, you might explore Ton Wallet, a tool that simplifies storing, sending, and receiving Toncoin securely.
Conclusion
The future of Toncoin depends on Telegram’s ability to maintain investor confidence while promoting decentralization. Although the recent $450 million sale has stirred controversy, it remains a step in balancing ecosystem development with financial sustainability. Investors should carefully monitor market trends and Telegram’s long-term plans for Toncoin in 2026 and beyond.
