Telegram Launches Crypto Wallet on TON Blockchain
Telegram has announced the launch of its crypto wallet on The Open Network (TON) blockchain. The wallet will be available to Telegram’s 800 million users worldwide. The news of the launch has caused a significant increase in the price of TON tokens. Elite Crypto, a popular crypto Twitter account, confirmed the announcement and highlighted the boost in TON token price.
Inverted Head-and-Shoulders Pattern Indicates Bullish Sign
CoinGape previously reported on the formation of an inverted head-and-shoulders pattern in the TON price movement. This pattern is considered a bullish sign, indicating a potential uptrend. Breaking above the immediate resistance at $2 could lead to the 50-day Exponential Moving Average (EMA) crossing above the 100-day EMA, further supporting the positive price movement.
The Difference Between TON Wallet Bot and Dedicated Crypto Wallet
Earlier announcements regarding the Telegram crypto wallet bot were made in collaboration with The Open Network (TON). This recent unveiling introduces a dedicated crypto wallet, separate from the wallet bot. The TON Foundation had previously stated that the wallet bot would enable users to purchase, store, and send cryptocurrency directly through Telegram chats.
Hot Take: Telegram’s Crypto Wallet Launch Brings Excitement to the Market
Telegram’s launch of its crypto wallet on the TON blockchain has generated excitement among crypto enthusiasts. With a user base of 800 million, the wallet has the potential to bring cryptocurrency adoption to a wider audience. The surge in TON token price following the announcement indicates a positive market response. As more users join the platform and utilize the wallet, it is likely to have a significant impact on the crypto market and further promote the integration of cryptocurrencies into everyday transactions.
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