Subscribe our newsletter and get updated with latest news

Subscribe

Crypto News Media

Can Toncoin Reach $10? Telegram’s $300M xAI Deal With Elon Musk Sparks Price Surge

James Gathecha Avatar
James Gathecha
  • Toncoin (TON) surged after Telegram’s $300 million partnership with Elon Musk’s xAI, integrating the Grok chatbot into the app.
  • While the deal boosts long-term potential, analysts predict a short-term correction before any chance of reaching $10.

Toncoin (TON) is back in the spotlight following a high-profile partnership between Telegram and Elon Musk’s artificial intelligence firm, xAI. On May 28, Telegram CEO Pavel Durov revealed a one-year agreement with xAI, granting Telegram users direct access to xAI’s Grok chatbot. The deal will bring Telegram $300 million in cash and equity, plus 50% of all xAI subscription revenue generated within the app.

The market responded swiftly. TON surged 9.2% in a single day, with gains of 6.7% over the week and 3% over the past 14 days. While these figures reflect growing optimism, TON remains 48.9% below its late May 2024 high—raising the question: can this momentum push Toncoin to the coveted $10 mark?

Also read: $121M Saudi Royal Investment Boosts XRP Price Prediction Ahead of Key SEC Decision

Much of TON’s recent price action is tied not only to the Musk-fueled excitement but also to the broader crypto rally earlier this month. Bitcoin (BTC) reached a new all-time high, and Ethereum (ETH) followed with double-digit gains after its Pectra upgrade. That rally appears to have cooled, with BTC falling back to the $107,000 level.

According to CoinCodex, a correction may be on the horizon. The platform projects TON to drop to $2.29 by June 6, a potential decline of over 31%.

So, is $10 realistic? In the short term, probably not. For TON to hit double digits, it would need sustained bullish momentum across the broader market, a continued influx of Telegram users, and further integration or adoption of the TON ecosystem.

However, the Telegram-xAI deal does put Toncoin in a strong position. If Grok gains traction on Telegram and drives significant user engagement, TON could see a new wave of demand. For now, the road to $10 is more hopeful than inevitable—but with Elon Musk in the mix, crypto has learned to expect the unexpected.