TON experiences a surge of more than 30% within a week

Telegram has made a significant announcement that has caused the TON token to surge by more than 30% in just one week, in line with the overall bullish trend in the crypto market.

Pavel Durov, the founder of Telegram, revealed in a message on his channel that there has been a major development. Channel owners will now receive 50% of ad revenue exclusively in Toncoin (TON). This shift is expected to create a “virtuous circle” by giving creators the option to either cash out or reinvest in promoting their channels.

The price of TON has experienced a significant increase, reaching $2.75, which is a remarkable 30% rise in the past seven days. With a circulating supply of 3.5 billion TON, the cryptocurrency now has a market cap of $9.5 billion, making it the 18th largest cryptocurrency in the world.

To address concerns about concentration and centralization, Telegram co-founder Pavel Durov has announced a limit on TON holdings to 10% per investor. This decision comes in response to worries about Telegram’s overwhelming share of Toncoin due to exclusive advertising sales for TON. The plan includes selling surplus TON holdings at a discounted rate to long-term investors, with the aim of promoting stability and reducing volatility.

Telegram’s announcement to integrate TON as the exclusive payout currency for ad revenue sharing is a significant step forward. With Telegram channels collectively accumulating a trillion views every month, the potential volume of TON distributed through this program is generating interest.

Known as the token that Telegram nearly launched, Toncoin faced obstacles in 2020 when the SEC lawsuit halted Telegram’s crypto ambitions. However, TON has since been taken up by community developers and has evolved into an open-source blockchain platform, supporting projects like the game and memecoin called Notcoin. Toncoin has now resurfaced with increased demand and is endorsed by Pavel Durov. It is available on major exchanges and has become a cryptocurrency worth keeping an eye on.

In another exciting development, Binance, a major player in the cryptocurrency exchange market, is set to expand its futures lineup by introducing perpetual contracts featuring Toncoin on Binance Futures. This move highlights the growing excitement surrounding the Telegram Open Network. The TON/USDT perpetual contract is scheduled to launch on March 1 and offers traders maximum leverage of up to 50x, providing them with an expanded playing field for potential gains. Although Binance’s spot trading platform does not currently support TON, it does provide valuable coin price tracking and market information, indicating the potential for future additions to its TON offerings.

Amidst TON’s surge, Bitcoin has also shown strength and is edging closer to its all-time high of $67,000. Ethereum has also experienced a 12.4% gain in the past seven days, reaching $3,550. These market dynamics, along with the launch of new ETFs and the outflows from the Grayscale Bitcoin Trust, contribute to the overall backdrop of TON’s rise.

While there is speculation about Bitcoin’s proximity to its all-time high, long-term investors remain confident in sustained demand driven by new U.S. ETFs and the upcoming April halving event.