TONX Becomes Main Buyer of TON Tokens Sold by Telegram for Long-Term Holding and Staking

Telegram has sold over $4.5 billion worth of TON tokens, with the main buyer identified as TONX, a Nasdaq-listed firm according to LookOnChain data. These tokens come with a four-year vesting period and will be used for long-term holding and staking as reported. The move highlights the growing importance of TONX within the TON ecosystem according to analysis.

The TONX-affiliated companies intend to hold and stake the tokens for the long term according to reports. This development aligns with Telegram's broader strategy to generate revenue from its TON ecosystem. In the first half of 2025, Telegram's revenue rose to $870 million, a 65% increase compared to the previous year according to Cointelegraph.

About a third of Telegram's revenue in 2025 came from exclusivity agreements related to TON according to Cointelegraph. The company's first-half revenue included $300 million from TON-related activities as reported.

Why Did This Happen?

Telegram has been monetizing its TON token through various mechanisms, including exclusivity agreements. The company has sold more than $450 million in TON to date according to Cointelegraph. This strategy has contributed to its growing revenue, despite TON's value declining by 69% in 2025 according to analysis.

The TON token sales represent roughly 10% of the TON market capitalization according to Cointelegraph. This has raised questions about the sustainability of the token's price and the long-term value of Telegram's holdings according to reports.

How Did Markets React?

Despite selling significant amounts of TON, Telegram's net holdings have not declined significantly and may have even increased according to LookOnChain data. TONX's long-term staking strategy may stabilize the token's price over time according to analysis.

The TON token has shown signs of recovery, with a 19% increase in the past month according to Cryptopolitan. This trend could indicate growing confidence in the token's future value and utility within the TON ecosystem according to reports.

What Are Analysts Watching Next?

Analysts are closely watching how Telegram's token sales and staking strategies affect TON's market dynamics. The vesting period for TON tokens is four years, which could delay the impact of selling pressure on the market according to LookOnChain data.

Telegram's bond exposure in Russia has also raised concerns. $500 million in bonds are frozen in Russia's central securities depository due to Western sanctions according to Cointelegraph. Telegram has denied significant exposure to Russian capital, stating that recent bond offerings excluded Russian participation according to reports.

The company is also preparing for a potential initial public offering (IPO) according to Cointelegraph. This could further influence TON's market perception and value according to analysis.

As TONX continues to acquire and stake TON tokens, investors will be watching for further developments in the TON ecosystem according to LookOnChain data. The long-term success of TON will depend on the token's utility, adoption, and the strength of its underlying platform according to analysis.