The native forex of the TON Network, Toncoin (TON), has skyrocketed greater than 60% in lower than 48 hours after information involving Telegram.
What relationship does TON have with Telegram? The communication software introduced, by way of its founder Pavel Durov, that it has plans to make an preliminary public providing (IPO).
In parallel, it is vital to make clear that Ton Network was initially a spin-off from Telegram (improvement started in 2018). Telegram stopped constructing the Ton Network in 2020 following authorized motion from the SEC.
Although the 2 firms are divided, Telegram endorsed the TON community as its favourite blockchain for Web3 infrastructure, in September 2023.
On the opposite hand, Durov admitted that the corporate at present has 900 million customers and that it is very near turning into worthwhile.
Toncoin and the evolution of its value
TON’s market capitalization jumped nearly $6 billion in slightly below three months, from $9.5 billion to $15.35 billion. This now locations it in twelfth place within the crypto rating, surpassing different extra “popular” altcoins comparable to TRON, MATIC, DOT, LINK and LITECOIN.
Furthermore, it accumulates a acquire of greater than 90% in 2024at present buying and selling at $4.42, slightly below its all-time excessive of $4.50 reached in November 2021.
