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Toncoin Price Jumps 17% As Tether Widens Payment Choices On Telegram’s TON Network

Tether, the company behind the largest stablecoin in the market, USDT, has made a significant expansion move that has propelled the Toncoin price, the native token of The Open Network (TON), by 17% in the past 24 hours. 

Tether Expands Reach To 15 Blockchains

On Friday, Tether announced the launch of its USDT dollar-pegged token and Tether Gold (XAUT), a gold-backed digital token, on The Open Network. This development marks a significant move for Tether, expanding its presence to 15 blockchains. 

The integration of TON with Telegram, which boasts over 900 million global users, is expected to provide a “seamless and borderless” experience for peer-to-peer (P2P) payments within Telegram’s user base.

With the introduction of USDT and XAUT on TON, Tether aims to facilitate the easy transfer of value between users in the TON ecosystem and other blockchain networks while increasing the transfer speed and reducing costs. 

Paolo Ardoino, CEO at Tether, expressed excitement about the launch, emphasizing their support for The Open Network’s vision of an open and “decentralized internet.” Ardoino stated:

We’re excited to bring USD₮ and XAU₮ to The Open Network because we support its vision of an open and decentralized internet and a borderless financial system. The launch of USD₮ and XAU₮ on TON will allow seamless value transfer, increasing activity and liquidity while offering users a financial experience that can match those found in the traditional financial system. This furthers our mission of powering open financial infrastructure across the blockchain space.

11 Million TON Tokens To Drive Adoption Of USDT, XAUT

Meanwhile, The Open Network claims to “revolutionize” global peer-to-peer payments, allowing Telegram users to send money instantly without needing a blockchain address or downloading a new app. 

Notably, USDT on TON will be complemented by fully integrated on-ramps supporting most fiat currencies globally. Additionally, integrated global off-ramps will facilitate users’ withdrawal of supported fiat currencies directly to their bank accounts or cards.

The TON Foundation has allocated 11 million TON tokens as incentives to drive adoption. Five million TON will be utilized to boost rewards in USDT/TON liquidity pools across TON decentralized exchanges (DEXes) like StonFi and Dedust. 

Another 5 million TON will be distributed to users who deposit USDT to the Earn campaign of Telegram’s wallet. Furthermore, withdrawals to TON from supporting exchanges such as OKEx, Bybit, and KuCoin will be free for all users until the end of June 2024.

Ultimately, the introduction of USDT and XAUT on TON, coupled with the incentives provided, is expected to accelerate the adoption of TON and establish it as a “faster, easier and more cost-effective” cross-border payment system compared to traditional financial services, according to The Open Network’s announcement.  

Toncoin Price Rallies

Following the disclosure of the partnership, the Toncoin price surged, reaching a high of $8.02 on Friday. This marked the end of a sharp decline over the past week since the token achieved its all-time high (ATH) of $8.79 on April 11. After reaching the new ATH, the Toncoin price dropped to a low of $5.42 on Saturday, April 13.

However, with the recent partnership announcement, the Toncoin price has regained its bullish momentum and is currently trading at $6.59. 

It aims to surpass the price resistance level of $7.70, which will pave the way for reaching and surpassing the $8 mark. This would provide a favorable trajectory for the Toncoin price to conquer and exceed its current ATH.

Toncoin price

Featured image from Shutterstock, chart from TradingView.com

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Toncoin Unleashes DeFi Monster Growth: TVL Soars 300% In A Month

Toncoin, of the TON network, has captured the attention of the cryptocurrency community as its Total Value Locked (TVL) surpasses a staggering $148 million, marking a historic milestone. This meteoric rise, reported by DefiLlama, showcases an almost threefold increase in just one month and a jaw-dropping tenfold surge over the course of a year. As of the latest update, TON’s TVL stands firm at slightly over $146 million, underscoring its growing prominence in the decentralized finance (DeFi) landscape.

Unprecedented Growth And Leading Projects

Within the TON ecosystem, standout performers in TVL include the Tonstakers liquid staking protocol and the STON.fi decentralized exchange. Together, these projects boast a combined total value of locked assets exceeding $283 million.

Toncoin Surges As Market Dynamics Shift

Amidst the flurry of activity, Toncoin emerges as the darling of the crypto market, experiencing a remarkable surge in value. Over the past month, Toncoin has skyrocketed by over 60%, propelling it to new all-time highs multiple times throughout April. Currently trading at around $6.25, Toncoin’s ascent shows no signs of slowing down.

Speculation And Partnership Buzz

Fueling Toncoin’s ascent are rumors swirling within the crypto community regarding a potential partnership between the TON Society developer community and HumanCode, an AI development firm. While details remain scarce, speculation abounds, with many anticipating a major announcement that could further propel Toncoin’s price up.

Toncoin Overtakes Cardano in Market Capitalization

Meanwhile, Toncoin has surpassed Cardano (ADA) in market capitalization, firmly establishing itself as a force to be reckoned with in the crypto market. With a market capitalization of over $22 billion, Toncoin now holds the coveted 8th position, relegating Cardano to the 11th spot.

Market Analysis And Price Consolidation

Despite its meteoric rise, Toncoin is currently navigating a period of consolidation, with traders and analysts closely monitoring key price levels and volume dynamics. As the cryptocurrency hovers between $6.50 and $6.75, both bulls and bears are poised for potential shifts in market sentiment. Crypto trader Paxton emphasizes the importance of volume in determining Toncoin’s trajectory, urging caution amidst the market’s ebbs and flows.

Related Reading: Historical Data Sparks Excitement: VeChain Price Poised For A Bullish Breakout?

As the TON network continues to defy expectations and Toncoin reaches unprecedented heights, all eyes remain fixed on this thriving ecosystem. With its innovative projects, strategic partnerships, and surging value, TON is poised to reshape the future of decentralized finance and redefine the possibilities of the crypto market.

Featured image from Amazon, chart from TradingView

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Toncoin Defies Market Turmoil, Surges 25% To Tally All-Time High – Details

Toncoin (TON) has defied recent market turbulence, reaching a new milestone with its price surging to an all-time high of $7.0. This nearly 25% increase has propelled Toncoin to become the eighth largest cryptocurrency by market cap, surpassing Dogecoin (DOGE) with a market cap of nearly $25 billion.

Toncoin: Powered By Strategic Partnership

Toncoin’s recent momentum can be attributed in part to its partnership with HashKey, which has bolstered investor confidence. Since March, Toncoin has sustained considerable momentum, witnessing a surge of approximately 35% in the past week and a remarkable 136% increase over the past month.

Technical Indicators Signal Potential Growth

Technical analysis indicates a bullish trajectory for Toncoin, with its price following an ascending channel pattern. Despite brief downward movements, strong buying activity near the support line suggests resilience among investors.

Analysts predict a potential breakthrough of the $7.50 resistance line, potentially paving the way for a rally towards $10. Both moving averages are trending upwards, and the Relative Strength Index (RSI) remains positive, signaling favorable conditions for buyers.

Toncoin has had a significant and rapid increase in value since the beginning of the year. The year-to-date (YTD) growth of this entity stands at 205%, surpassing the growth of Bitcoin (BTC) which is recorded at 57%.

Catalysts Behind TON’s Growth

There are numerous driving forces behind Toncoin’s explosive growth. Its distinct technology aids in the scalability of decentralized services constructed upon it, and its tight relationship with Telegram serves as an additional catalyst for its expansion.

All told, the Toncoin ecosystem is home to a large number of aspirational users who have contributed to the development of a tight-knit community that powers and encourages network innovations.

Telegram’s Influence Adds Momentum

The influence of messaging app Telegram has also contributed to Toncoin’s momentum. Rumors of Telegram’s impending IPO and plans to integrate Toncoin into its platform have heightened investor optimism.

Telegram’s CEO, Pavel Durov, recently disclosed the company’s receipt of offers totaling $30 billion, further fueling excitement. Additionally, Telegram’s decision to introduce advertisements within its channels, with rewards distributed in Toncoin, underscores the platform’s commitment to cryptocurrency integration.

Toncoin’s surge represents a significant development in the cryptocurrency landscape. As the cryptocurrency continues to challenge established players and forge strategic partnerships, investors are reminded of the inherent volatility in the market.

Even though Toncoin’s present path looks good, it is still important to be careful with risks. As people keep an eye on what’s going on, Toncoin’s path to continued growth stays a central issue in the world of digital assets, which is always changing.

Featured image from Pexels, chart from TradingView

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“Where It Should Be”: Crypto Analyst Remains Firm On $1.7 Prediction For Cardano (ADA)

Investors and analysts are trying to predict Cardano’s (ADA) price’s future performance. As the price continues to show red numbers, a top crypto analyst considers that ADA is “right where it should be.”

Cardano Loses 10th Spot Against Telegram’s Toncoin

Cardano’s recent spotlight has highlighted its disappointing price performance and lack of appeal for traders. Despite its technology and strong community, the ecosystem lacks the activity and demand of other chains like Solana.

Recently, Charles Hoskinson defended the project, stating that “Cardano always wins,” referencing a poll ranking the best Layer-1 networks. Moreover, Hoskinson took another jab at Solana’s network problem after its recent transaction failure rate reached 75%.

Nonetheless, on Tuesday, ADA lost its spot in the top ten cryptocurrencies after being flipped by Toncoin (TON). According to CoinGecko data, Cardano’s market capitalization of $20.1 billion was surpassed by TON’s $23.3 billion market cap. As a result, ADA’s spot as the 10th largest cryptocurrency by this metric was taken by TON.

Cardano, ADA, Toncoin, TON, Dogecoin, DOGE

Per CoinMarketCap data, ADA remains in the top ten cryptocurrencies, ranking ninth on the website’s list before being flipped.

ADA Is “Where It Should Be”

Last week, crypto analyst Ali Martinez revealed that ADA’s whale activity was “experiencing a lull.”  To the analyst, whether this was a signal of further price consolidation or a drop remained to be seen.

Some believe that TON’s overtaking of Cardano’s place on the list highlights some of the ecosystem’s problems. Martinez reiterated his prediction made around the time Bitcoin registered its latest all-time high (ATH) of $73,373. At the time, the analyst considered that ADA resembled the pattern observed from 2018 to 2021.

During the period observed by Martinez, Cardano’s token went through a long consolidation period, with the price hovering between $0.026 and $0.082. After breaking out of this resistance level, ADA’s price surged to $0.35 in the following weeks before continuing its upward trajectory to its ATH of $3.09.

According to the analyst, if that fractal continued during the following weeks, investors should “anticipate ADA consolidating in the $0.55 to $0.80 range. This would be followed by a surge to the $1.7 support level.

After another consolidation period, the stage would be set for the token’s price to “breakout to $5,” the analyst considered.

cardano ada adausdt

Almost a month later, the analyst considers that “nothing has changed for Cardano.” Martinez reaffirmed the price consolidation between the $0.55-$0.80 range and subsequent breakout, as “ADA is exactly where it should be.”

Despite the analyst’s optimistic forecast, ADA’s price of $0.5762 remains 81.5% below its 2021 ATH. At writing time, the token dropped 5.4% from the previous day. Additionally, its performance has decreased by 3.6% and 22.3% in the weekly and monthly timeframes.

However, the token’s market activity has surged 6.6% in the last 24 hours, with a daily trading volume of $502.1 million.

ADA, ADAUSDT, CArdano

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Telegram Implements Toncoin Payment Integration For Ads, TON Price Sees Impact

Telegram, the renowned messaging platform, recently unveiled a new feature that allows users to promote their channels through advertising. With the launch of this feature, users can now purchase ad space using Toncoins (TON), the native cryptocurrency powered by the TON blockchain.

Telegram Implements TON Blockchain For Ad Payments

Acknowledging the potential for channel owners to generate advertising revenue, Telegram’s announcement highlighted that channels collectively accumulate over 1 trillion views each month. 

Realizing this opportunity, Telegram has implemented a revenue-sharing model, enabling channel owners with a minimum of 1000 subscribers to receive 50% of the ad revenue generated from ads displayed on their channels.

The decision to integrate the TON blockchain into this feature was driven by various reasons, as noted in the social media platform’s announcement on Sunday:

We chose the TON Blockchain because it has low fees, high transaction speeds – and holds a record for the number of transactions it can process per second. Anyone can now promote their bot or channel – with budgets as low as a handful of Toncoins. When creating a Telegram ad, you choose the exact channels where you’d like it to appear, so you have full control over their context.

Telegram CEO Pavel Durov had previously emphasized the importance of fast and secure ad payments and withdrawals, expressing that the TON blockchain would be the exclusive platform for these transactions. Durov stated:

To ensure ad payments and withdrawals are fast and secure, we will exclusively use the TON blockchain. Similar to our approach with Telegram usernames on Fragment, we will sell ads and share revenue with channel owners in Toncoin. This will create a virtuous circle, in which content creators will be able to either cash out their Toncoins — or reinvest them in promoting and upgrading their channels.

TON Shows Bullish Momentum

As Telegram unveils these new features and developments that can significantly boost the adoption and usage of the TON token, the cryptocurrency has responded positively. 

Over the past 24 hours, TON has surged by more than 5%, reaching a current trading price of $5.30. This surge adds to its impressive 100% price increase over the past 30 days alone.

Notably, the announcement has also caused a substantial increase in the trading volume of TON, which has soared to $234,869,370 in the past 24 hours. This represents a rise of over 74% compared to Sunday’s trading volume, according to CoinGecko data.

Furthermore, the TON token is approaching its all-time high (ATH) mark of $5.69, reached on March 25. With the introduction of these new features in Telegram and the notable increase in trading volume, the token appears to be on the verge of setting a new ATH in the coming days if the demand continues to rise.

However, the token must surpass the significant resistance level of $5.45 for this scenario to unfold. This price level has proven to be a hurdle for the token, as it has attempted three times to break through and consolidate above it to reach a new ATH but has failed. Overcoming this resistance level is crucial before the token can approach new ATH levels.

On the TON/USD 4-hour chart, the support level that could potentially halt a price correction following the recent uptrend is $5.26. This support level acts as a buffer to prevent a significant downward correction in price.

Telegram

Featured image from Shutterstock, chart from TradingView.com

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Toncoin (TON) Hits New Yearly Peaks, Surging 60% On Buzz Surrounding Potential Telegram IPO

Toncoin (TON) has experienced a notable uptrend in recent weeks, driven by significant news and announcements surrounding the popular social media platform Telegram, the latest being a potential initial public offering (IPO). 

Telegram User Base Surpasses 900 Million

According to his latest appearance, aside from his constant announcements through his channel on the social media platform, Pavel Durov, the CEO of Telegram, shared that the messaging app has amassed over 900 million users, up from 500 million in 2021, and is steadily approaching profitability. 

In an interview with the Financial Times, Durov revealed that Telegram’s introduction of advertising and premium subscription services two years ago has enabled the company to generate “hundreds of millions of dollars” in revenues. With yearly expenses at less than 70 cents per monthly user, Telegram’s financial growth is gaining momentum.

Telegram is implementing various strategies as part of its ongoing efforts to generate revenue. As reported by NewsBTC, the company is planning to introduce revenue sharing with channel creators, offering them a 50% share of the marketing budget. 

Additionally, Telegram is launching business accounts and a “social discovery” feature, which will reportedly facilitate user interaction and help connect individuals nearby. These initiatives aim to diversify Telegram’s revenue streams and provide additional value to its user base.

Potential Valuation Exceeds $30 Billion

Telegram has reportedly garnered significant interest from potential investors, with offers exceeding $30 billion in valuation. However, during the interview with the Financial Times, Durov emphasized that the company’s priority is to remain independent, and an IPO would serve as a means to “democratize” access to Telegram’s value. Durov stated:

The main reason why we started to monetize is because we wanted to remain independent. Generally speaking, we see value in [an IPO] as a means to democratize access to Telegram’s value.

While Durov did not provide a specific timeline or venue for the potential IPO, two people familiar with the matter told the Financial Times that Telegram may pursue a US listing once profitability is achieved and market conditions are favorable. 

Notably, the messaging app platform has already raised approximately $2 billion in debt financing through bond offerings, providing flexibility for future financial decisions.

In the event of an IPO, Telegram is considering selling an allocation of stock to loyal users, similar to Reddit’s recent announcement. This approach aims to involve the community and foster a sense of ownership. 

Furthermore, Telegram is exploring the possibility of a smaller equity raise to fuel its artificial intelligence (AI) ambitions, including introducing an AI-powered chatbot. The company also plans to enhance its moderation processes and deploy AI-related mechanisms to address potential issues, particularly during global elections.

TON Climbs The Ranks

With Telegram’s endorsement and integration of TON into the app’s user interface and introducing a new ad revenue-sharing system, Toncoin has surged 97% in the past month, marking new yearly highs for the token. 

In addition, Telegram’s potential initial public offering has further bolstered Toncoin’s upward trajectory, with a 20% spike in the past 24 hours, resulting in a current trading price of $4.40.

Telegram

On top of that, TON has climbed into the top 13 largest cryptocurrencies on the market with a capitalization of $15 billion, surpassing other major coins such as Polkadot (DOT), Polygon (MATIC) and Chainlink (LINK). 

Featured image from Shutterstock, chart from TradingView.com 

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Telegram CEO Responds To Concerns, Offers Solution To Restrict Company’s TON Stake To 10%

The popular messaging platform Telegram has revealed its plans to sell its surplus holdings of The Open Network (TON) tokens at below-market prices. This move comes after concerns were raised about the potential centralization of TON supply due to ad payments being exclusively accepted in TON tokens. 

Telegram Addresses Concentration Concerns

As NewsBTC reported on February 28, starting in March, channel owners will have the opportunity to receive financial compensation for their content. All transactions, including payments and withdrawals, will be handled on the TON blockchain.

Telegram’s advertising platform will be available to advertisers in nearly one hundred new countries. With this expansion, channel owners will receive 50% of the revenue generated from ads displayed on their channels.

In response to concerns about the concentration of TON tokens with this new feature, Telegram CEO Pavel Durov announced plans to sell the company’s surplus holdings. 

With ad payments in TON tokens potentially accounting for more than 10% of the TON supply at Telegram, Durov acknowledged the need for a solution to avoid centralization. 

Telegram aims to limit its share of TON by selling the surplus holdings to long-term investors, ensuring a “healthier distribution” and a decentralized ecosystem. The tokens sold will be subject to a lockup and vesting plan ranging from 1 to 4 years.

To ensure a streamlined process for selling TON tokens, Telegram has set up a dedicated email address where interested large investors (with investments of $1 million or more) can express their interest, aiming to maintain stability and decentralization within the TON ecosystem. 

TON Ecosystem Thrives

Despite the growing concerns, the TON ecosystem is showing encouraging signs of growth, as evidenced by recent data provided by Token Terminal. Market capitalization, trading volume, fees, and revenue have all increased significantly over the past 30 days. Additionally, active users have consistently grown daily, weekly, and monthly. 

Over the past 30 days, the fully diluted market capitalization of the TON ecosystem has reached $13.83 billion, marking a significant 31.0% increase. Moreover, the token’s trading volume has seen a modest but steady 1.4% rise, reaching $1.21 billion. 

Fees generated within the ecosystem have also experienced substantial growth, with an 80.9% increase over the past 30 days, totaling $860,490. The annualized fees have also surged, reaching $10.47 million, reflecting a 45.3% growth rate.

Furthermore, revenue generated within the ecosystem has followed a similar trajectory, with a significant 80.9% increase over the past month, amounting to $430,250. The annualized revenue stands at $5.23 million, indicating a promising revenue stream for the ecosystem.

Last but not least, the TON ecosystem has seen consistent growth in its user base over different periods. Daily active users have increased by 1.5%, reaching 33.66k, while weekly active users have experienced a growth rate of 19.6%, reaching 178.62k. Monthly active users also showed a positive trend, with a growth rate of 10.3%, reaching 412.39k. 

Telegram

TON is trading at $2,735, up 3% over the past 24 hours and extending its 34% rise over the past 30 days.

Featured image from Shutterstock, chart from TradingView.com 

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TON Skyrockets 25% As Telegram Unveils New Revenue Sharing Feature, Crossing $3 Mark

In a notable development for the cryptocurrency world, Telegram, the popular social media platform, has introduced an ad revenue-sharing system for channel owners on its native blockchain TON. This move has resulted in a significant 25% price spike for TON, surpassing the $3,016 mark.

Previously known as Gram, TON is the native cryptocurrency of The Open Network (TON), a decentralized Layer 1 (L1) protocol. With the introduction of this new feature, Telegram aims to create a mutually beneficial ecosystem where channel owners can be financially rewarded for their efforts.

Telegram Introduces TON For Channel Monetization

According to Pavel Durov, CEO of Telegram, channel owners on the platform will be able to receive financial compensation starting next month. This announcement has generated considerable excitement among content creators eagerly awaiting an opportunity to monetize their channels.

With a significant one trillion monthly views generated by broadcast channels on Telegram, the potential for revenue generation is immense, Durov believes. However, only 10% of these views are monetized using Telegram Ads, a privacy-focused promotion tool.

Telegram’s ad platform will be available to advertisers in nearly one hundred new countries in March. This expansion will allow channel owners in these countries to receive 50% of the revenue generated from ads displayed on their channels, incentivizing content creators and driving the growth of Telegram’s ad ecosystem. Telegram CEO Durov further noted: 

To ensure ad payments and withdrawals are fast and secure, we will exclusively use the TON blockchain. Similar to our approach with Telegram usernames on Fragment, we will sell ads and share revenue with channel owners in Toncoin. This will create a virtuous circle, in which content creators will be able to either cash out their Toncoins — or reinvest them in promoting and upgrading their channels

As announced, all transactions, including payments and withdrawals, will be settled on the TON blockchain, built by the same company that created Telegram, which reported 800 million monthly users as of July 2023.

TON Bullish Momentum Points Towards Potential New ATH

When the announcement was made in the early hours of Wednesday morning, TON experienced a significant spike, sending its price as high as $3.172. This level had not been seen since November 2023, when the token hit its all-time high (ATH) of $3.215.

The current bullish sentiment surrounding TON, coupled with the potential for wider adoption and use, suggests the possibility of a new ATH shortly. This is further supported by the overall market entering an aggressive bullish phase.

Telegram

Despite the volatility exhibited by TON, as seen on the weekly TON/USD chart, there are no significant resistance levels ahead. Therefore, the outcome of a potential new ATH depends on the ability to sustain the current bullish trend.

Featured image from Shutterstock, chart from TradingView.com