xAI Invests $300 Million in Telegram Deal Boosting Toncoin 7.5%

Elon Musk's AI company, xAI, has struck a significant deal with Telegram, investing $300 million in exchange for the integration of Grok AI into Telegram's messaging platform and apps. This partnership will see Telegram receive 50% of all Grok subscription revenue generated through its platform, providing substantial funding for future growth and expansion.

This deal is expected to have a positive impact on Toncoin (TON), the cryptocurrency used by numerous apps hosted on Telegram. The integration of Grok AI could attract more users to Telegram, potentially increasing the adoption of TON and driving its price higher. Despite a recent dip of 0.5% in the past 24 hours, TON has shown strong performance this week, benefiting from the $300 million deal and rising by 7.5% in the past seven days and by 5% in a fortnight.

However, TON remains in a relatively weak position, with a 48% loss in the past year. Its 30-day average has been below the 200-day average since the end of January, indicating that it is overdue for a rebound. The Relative Strength Index (RSI) has shown some signs of recovery but has not enjoyed a sustained period of growth since December. This suggests that a rally may not be too far away, with the potential for the Toncoin price to hit $4 by the end of July and reach $5 by the end of the year.

Fundamentally, TON is in a good place, with total accounts standing at 152.8 million and daily active wallets at 128,000. Its total value locked stands at $158 million, although this represents a 52% decline in the past year. This decline in total value locked may be a concern for some investors, who might prefer to look at alternative altcoins, including new tokens that could surge soon.