- TON experienced a 138% surge year-to-date, reaching an all-time high, coinciding with Telegram’s revenue-sharing initiative.
- The surge was propelled by Telegram’s endorsement and consideration of an IPO, driving a rapid 61% increase within two days post-announcement.
- The introduction of The Open League community rewards program, valued at over $115 million, fueled further growth.
Toncoin (TON) has been making waves in the cryptocurrency market, experiencing an impressive surge of 138% since the beginning of the year, with its value hitting an all-time high of $5.69.
This surge coincides with Telegram’s recent implementation of a revenue-sharing initiative, allowing channel owners to earn 50% of advertising revenue through Toncoin.
The remarkable rise of TON can be attributed to various factors. In the past month alone, TON has seen a staggering 101% increase in value, reaching its peak on March 27. This surge was particularly significant following the revelation on March 12 that Telegram was considering an initial public offering (IPO). Investors responded enthusiastically, driving TON’s value up by 61% within two days of the announcement.
The connection between the Ton network and Telegram dates back to 2018 when the former was spun off from the popular messaging platform. Despite their separation, Telegram endorsed the Ton network last September as its preferred blockchain for developing Web3 infrastructure.
Telegram’s recent announcement of a revenue-sharing feature further propelled TON’s value. Channel owners were thrilled by the opportunity to earn Toncoin through displaying ads, leading to a 25% surge in TON’s value following the CEO’s announcement in late February.
Read CRYPTONEWSLAND on
google news
With the introduction of the Toncoin community rewards program, known as The Open League, valued at over $115 million, TON’s growth trajectory shows no signs of slowing down. The pilot season of The Open League reported impressive metrics, including a 70% increase in Total Value Locked (TVL) and a remarkable 370% surge in daily active wallets.
Read also:
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
