Toncoin (TON) Volatility Spikes as Musk Denies Telegram-Grok AI Deal

Elon Musk has publicly denied any formal agreement between Telegram and xAI, contradicting Pavel Durov’s earlier announcement of a one-year partnership to integrate Grok’s AI across Telegram’s platform. The initial claim had sent Toncoin (TON) soaring over 10% to $3.45 before Musk’s rebuttal triggered a sharp reversal.

Market volatility spiked as TON plummeted from $3.45 to $3.27 within 30 minutes of Musk’s tweet stating "No deal has been signed." Despite the pullback, the token remains 8% higher on the day, reflecting lingering speculation about Telegram’s blockchain ambitions.

The conflicting narratives expose credibility risks for both projects. With neither party providing clarity, traders anticipate further downside if the proposed AI integration fails to materialize. Toncoin’s price action underscores its sensitivity to Telegram-related developments.