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- 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.
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.