TON price analysis Archives

13th March 2024

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.

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

28th February 2024

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.

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

20th September 2023

Toncoin (TON) Continues To Shine, Is $3 Mark Possible?

TON has gained 1% today, September 20. It trades at $2.47 with a 30% seven-day price increase. Also, TON’s price gains confirm the entrance of buyers and an accumulation phase, which will likely continue to push the rally.

TON’s price gains in the past week are likely a result of its integration with Telegram. This integration exposes TON to approximately 800 million users on Telegram, leading to a spike in its price.

TON Faces Resistance At $2.58; Will The Buyers Trigger A Breakout?

TON is on an uptrend today, building on its gains from September 19 to rally to the $2.58 resistance level. After briefly slipping off the $2.5 price on September 16, TON found support at $2.3, preventing a decline. And as the bull returned, the asset pushed closer to the $2.58 resistance level.

As buyers vie to surmount barriers to further uptick, TON trades near the upper band of the Donchian Channel (DC), expressing a strong bullish sentiment.

Additionally, the Relative Strength Index (RSI) is firmly in the overbought zone, displaying a value of 76.6. The RSI’s value implies that the buyers are not yet done with the accumulation phase and will likely rally above the closest resistance level.

Moreover, the Moving Average Convergence Divergence (MACD) still displays a strong buy signal. The MACD is above its signal line, and its green Histogram bars confirm an ongoing massive accumulation.

Based on past price action, TON will likely repeat its September 12-16 uptrend to record more gains. However, it is already in the overbought region, and a retracement for consolidation will likely occur in a few days.

Nevertheless, the exciting developments in the Toncoin ecosystem will likely result in a bull run in the last quarter of 2023.

TON Records Massive Price Surge Following Telegram Update

Exciting ecosystem developments could be responsible for Toncoin’s performance over the past few days. According to a recent tweet, social media giant Telegram extended its support to Toncoin and introduced a new wallet called TON Space.

According to sources, the unveiling happened last week at the Token 2049 conference in Singapore. Also, the CEO of Telegram, Pavel Durov, shared this exciting news on his official Telegram account, confirming that TON is the preferred blockchain network for their crypto integration.

Durov said: “Starting this November, TON Wallet will be included in the settings and attachment menus for all our users outside the US and some other countries.” This integration helps them expand Telegram’s Web3 infrastructure.

Interestingly, users who installed the latest version of Telegram can access the wallet option from the app menu. Toncoin developers say the upgrade aims to integrate the token within Telegram Mini-Apps.

In addition, Toncoin projects could utilize these mini-apps to increase their reach and adoption. Moreover, TON-based users get priority access to Telegram Ads, exposing the projects to over 37,000 communities and millions of Telegram users.

Consequently, the TON wallet will operate The Open Network (TON) blockchain. Also, the wallet will be available to over 800 million Telegram worldwide users.

This development bodes well for Toncoin, which has been bullish since September 4, 2023, following the announcement. By riding on these bullish waves, the cryptocurrency will likely attain $3 in the coming weeks.

16th August 2023

Toncoin (TON) Investors Load Up Their Bags As Majority Of Cryptos Nosedive

Toncoin (TON) has showcased healthy market status since the end of last week. According to historical data from TradingView, it witnessed a consecutive bullish trajectory from August 11, 2023, until today, August 16.

The upward movement drew the attention of investors, resulting in a price increment of over 12% gain in the past seven days. Notably, the latest developments within Toncoin’s ecosystem could be the reason for the market uptick in the past few days.

However, TON’s market value today, August 16, is $1.44, representing a price drop of over 2% in the last 24 hours. With this current price, the asset is almost 19.7% up in the past 14 days, 7% in 30 days, and 17% in the past year.

Recent Development Within Toncoin Ecosystem Pushes TON’s Value

There have been a lot of events on Toincoin’s ecosystem attracting massive investor attention and investment. Today August 16, Toincoin shared a post on X about its Indonesia event in Bali slated for August 23, inviting the crypto community to join.

Also, on August 14, Toincoin shared another update on expanding its ecosystem globally through the X platform. Toincoin shared that it has taken another step to increase its global reach by launching the network’s website in Ukraine.

This move shows the project’s commitment to increasing the asset’s adoption. Also, the team behind the TON projects wants to discover how Web3 teams could easily sign documents in Telegram.

In its X post, the team behind TON wrote:

For those who will be in Lisbon this Thursday, August 17, TON Society Europe is kicking off its journey with an exciting offline event.

TONUSD price chart

Earlier on August 11, the TON community, via its X handle, shared a tweet from a known payment gateway for cryptocurrencies, NOWPayments.

The report noted that the payment service had incorporated TON into its technology to enable a seamless non-fungible token checkout from different marketplaces.

This announcement triggered a rise in the market value of TON, verifiably from historical data on TradingView. From the data, the digital asset kick-started its bullish trend on the same day the news was announced.

It recorded a price gain from $1.259 to $1.302, reflecting a positive price change of about 3.4% in 24 hours. As the news spread, investors filled their portfolios with TON, despite the price decline of some other crypto assets.

Toncoin entry into the NFT sector could have been the reason for the continued purchase of more TON tokens. Investors are hopeful that the digital asset’s value will appreciate in the future because of NFTs.

These new updates contributed to the positive market sentiment after the association with NOWPayments triggered the price gains.

18th November 2022

Toncoin (TON) Continues To Shine With 13% Gains

Telegram’s own blockchain, TON, continues to enjoy impressive gains despite current market volatility. The open-source protocol has been one of the few ecosystems to stay afloat following the FTX saga. Specifically, TON posted a 3.28% gain intraday with a week-on-week rise of over 13%.

TON also gained ground against the top two cryptocurrencies, Bitcoin and Ethereum. The token was seen holding up gains of 2.22% against BTC and 3.09% above ETH. Its intraday price movement is still bullish, despite dropping below its floor mid-day.

Very few tokens have successfully kept substantial gains as the FTX case unfolds. However, TON has confidently left traders smiling all week and isn’t looking to stop anytime soon. The main catalyst behind TON’s rise is still Telegram’s new username auction feature. Furthermore, a leading blockchain market maker has pledged a huge amount to support the TON ecosystem.

A Telegram User Paid $500,000 For The ‘Dogecoin’ Username

The Telegram username auction has seen enormous trading volume despite just launching this week. Many users have struggled to get the best usernames, with some costing higher than others. However, one username has caught the attention of many members of the crypto community. As per data retrieved on November 17th, an unknown user purchased the username of the meme coin ‘Dogecoin’ for 350,000TON. This price is roughly $546,000 when converted.

The username is one of the most expensive sold on the blockchain’s Fragment NFT marketplace. Specifically, it’s the 8th most expensive Telegram profile username sold on the blockchain. Its price is higher than those of @alfa, @cash, @amazon, @adidas, @gold, @armani, @dior, and even @elon. Topping the list is @auto, which a user bought for 900,000 TON. This is worth approximately $1.43 million.

Ton’s price is currently hovering above $1.42. | Source: TONUSD price chart from TradingView.com

TON Getting $10 Million In Support From Market Maker

Popular market maker DWF Labs has entered a new partnership with the TON blockchain. This new deal will see the open-source protocol getting support in the form of investments, token and market development, and exchange listing. The Durov brothers, who founded Telegram Messenger, first conceptualized The Open Network in 2018. Later, they gave it to the open TON Community, who have been sustaining and expanding it ever since. TON was created with user-friendliness and scalability in mind for quick and inexpensive transactions.

DWF Labs’ investment will consist of 50 seed investments planned over the next 12 months and $10 million to support the ecosystem. All of these are intended to hasten the expansion of TON and its initiatives.

DWF Labs’ involvement is anticipated to boost TON’s volume across supporting platforms. This will further help to expand the number of ecosystem users. The blockchain’s trading volume is also expected to see a significant boost. As of writing, the token’s 24-hour volume was at $11,956,672, a 26.92% increase. The market maker plans to expand the trading volume further by creating an OTC market. This will enable buyers and sellers to conduct large transactions with ease.

Featured image from Pixabay and chart from TradingView.com

16th November 2022

Toncoin (TON) Records Positive Moves As Major Cryptos Recover

Toncoin, Telegram’s official blockchain token, has printed positive gains as the overall market tries to recover. TON saw a price increase of 1.52% on the day while gaining ground against BTC and ETH. It also reached an intraday high of $1.71. However, it has retracted, sitting at $1.69 press time.

The blockchain’s native token has also had a positive week. Despite falling to $1.33 at the start of the week, it recovered quickly and posted a 5.57% increase. Toncoin’s positive moves can be attributed to its parent company, Telegram’s latest username feature.

Telegram Allows Users To Buy Unique Usernames

This week, Telegram officially launched a new feature that enables the auctioning off of usernames. Users of Telegram now have the ability to auction off their usernames for their accounts, public groups, or channels, as stated by Telegram. The feature is quite similar to the ENS domains on the Ethereum network.

The auction was hosted by Fragment, a free marketplace for trading collectibles between users. According to Telegram, it’ll use the TON blockchain to secure the ownership and uniqueness of each username. The company also mentioned that users could create many aliases for their accounts, groups, and channels.

Telegram added:

For the first time in the history of social media, people have full ownership of their usernames. Long-time Telegram users who have been using short usernames they registered for early on can now benefit from the platform’s growth by selling their usernames in fair, transparent, fully decentralized auctions.

TON’s price currently hovers around $1.42. | Source: TONUSD price chart from TradingView.com

Toncoin Surges As New Accounts And Wallet Holders Increase

TON has also enjoyed surges in other areas, including the number of new accounts and wallets holding the token. As per data from CoinMarketCap, the number of wallets holding TON increased by over 12% in the last 7 days. On November 10, the number of unique wallet addresses was 2,546. However, it surged sharply on the 13th, adding over 200 unique addresses between then and today, the 16th.

The number of new account registration on the blockchain has also increased since the start of November. Data obtained from the TON official Telegram channel noted a 1% rise between November 6th and 12th. This increased the number of new accounts to 1,421,079, up from 1,406,699. These increases don’t come as a surprise, given the launch of the Telegram username auction and Fragment marketplace. As of writing, TON’s market cap had jumped 1.46%, though trading its 24-hour trading volume was down over 30%.

The latest features on Telegram are a big step forward for Web3. In August, Pavel Durov, founder of Telegram, first introduced the concept of username ownership being recorded on the blockchain. When Durov talked about the idea earlier this year, he said that “a little bit of Web 3.0” could be added to “Telegram in the coming weeks.” His comments at the time reflected his admiration for the TON Foundation’s successful domain name auction.

Featured image from Pixabay and chart from TradingView.com