Toncoin (TON) Plummets 52% in 2025 – Is This a Buying Opportunity or the End for the Telegram-Linked Token?

Toncoin ($TON) has experienced a severe 67% drop over three months, crashing from $7.20 to $2.34 and becoming one of crypto’s worst performers in Q1. Despite a slight 4.86% rebound last week, the token remains down 52% year-to-date, leaving traders cautious about further declines.

The downturn was fueled by eroding confidence and extreme volatility. Major triggers included the arrest of Telegram CEO Pavel Durov in August, raising doubts about The Open Network’s future, and Elon Musk’s denial of a rumored $300 million partnership between Telegram and xAI. Musk’s contradiction of Durov’s revenue-sharing claims caused a 7% single-day plunge.

Investors now face a critical decision—whether to see this weakness as a chance to buy low or as a sign of a failing project with unclear governance. The coming weeks will reveal if Telegram’s ecosystem can maintain developer and user interest amid these challenges.