Telegram's Crypto TON Surges 30% With $9.5 Billion Market Cap

The announcement of Telegram in a shift in its revenue model has propelled the TON token to surge by over 30% within just one week, aligning with the overall bullish trend in the crypto market.

Telegram's founder, Pavel Durov, made a significant announcement on his channel, unveiling a major development in the platform's revenue model. Channel owners will now receive 50% of ad revenue exclusively in Toncoin (TON), allowing creators to either cash out or reinvest in channel promotion.

TON's Remarkable Surge

Following the announcement, TON has witnessed a notable uptick, with its price skyrocketing to $2.75, marking an impressive 30% increase over the past seven days. With a circulating supply of 3.5 billion TON, the cryptocurrency now boasts a market cap of $9.5 billion, securing TON's position as the 18th largest cryptocurrency globally.

Addressing Concentration Concerns

Telegram's co-founder Pavel Durov announced restrictions on TON holdings to address concerns surrounding concentration and centralization, limiting them to 10% per investor. This decision alleviates worries about Telegram's disproportionate share of Toncoin resulting from exclusive advertising sales for TON. Additionally, the plan includes the sale of surplus TON holdings at a discounted rate to long-term investors, fostering stability and reducing volatility within the ecosystem.

Telegram's decision to integrate TON as the exclusive payout currency for ad revenue sharing marks a monumental stride for the platform.

According to Crypto News, with Telegram channels collectively amassing a trillion views monthly, the potential volume of TON distributed through this program ignites curiosity and anticipation among users.

The Evolution of Toncoin

Previously known as the token Telegram nearly launched, Toncoin faced setbacks in 2020 when the SEC lawsuit halted Telegram's crypto ambitions. However, driven by community developers, TON evolved into an open-source blockchain platform, nurturing projects such as the engaging game and memecoin called Notcoin.

Based on a Medium report, the forthcoming TONCoin cryptocurrency airdrop offers an exceptional chance to acquire complimentary tokens on a burgeoning new platform. The initial crucial step involves meeting the eligibility criteria for the $TON airdrop, which includes holding the necessary tokens and maintaining a registered account.

Toncoin has since resurfaced with heightened demand and gained endorsement from Pavel Durov. Available on major exchanges, Toncoin has garnered attention as a cryptocurrency worth monitoring closely in the evolving landscape of digital assets.

Photo: Dima Solomin/Unsplash

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