BitcoinWorld

Crypto News News

TON Rallies After Telegram Announced Ad Revenue Sharing Through Toncoin

TON Rallies After Telegram Announced Ad Revenue Sharing Through Toncoin
  • Telegram announced that starting Friday, channel owners will receive 50% of ad revenue generated in their channels in Toncoin (TON) and this triggers the TON rally.

Telegram, the privacy-focused messaging platform, has announced that starting Friday, channel owners will receive 50% of ad revenue generated in their channels, distributed solely in Toncoin (TON). 

This news propelled TON’s price by a staggering 31% within an hour.

The announcement, made by Telegram founder Pavel Durov on his channel, promises a “virtuous circle” where creators can either cash out their TON or reinvest it in promoting their channels. 

TON spiked from $2.15 to a high of $2.92, its highest level since February 2022, momentarily pushing its market cap above $9.8 billion. 

TON Price Chart | Source: Coinstats

 

It is currently trading at $2.67, and is ranked 15th in the top cryptocurrencies by market capitalization.

In 2018, Telegram launched the Telegram Open Network (TON) blockchain project, with its native currency, Gram, intended for facilitating transactions and network operations. 

See Also: The UK Introduces New Rules To Restrict Illicit Use Of Crypto Assets

However, due to regulatory hurdles from the SEC, Telegram ultimately withdrew from the project in 2020, refunding investors and leaving TON in the hands of its community developers.

TON has since evolved into an open-source blockchain platform and powers various projects, including the popular engagement-based game and meme coin “Notcoin.” 

Now, Telegram’s decision to integrate TON as its exclusive payout currency for ad revenue sharing marks a significant step for both the platform and the cryptocurrency.

Durov claims Telegram channels garner a collective trillion views monthly, raising questions about the potential volume of TON distributed through the new program. 

See Also: Crypto Sector Lost About $160M To Hack, Exploits, and Exit Scams In February: CertiK

While the exact financial details remain undisclosed, the announcement has undoubtedly injected excitement into the TON ecosystem.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

 

#Binance #WRITE2EARN

Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.