The TON Token Surges as Telegram Endorses TON Blockchain for Web3
The native token of the Open Network (TON) Blockchain, TON, experienced a significant surge of 12.6% overnight following Telegram’s endorsement of the blockchain platform for its Web3 initiatives. At the Token2049 conference in Singapore, Telegram’s Chief Investment Officer, John Hyman, and the TON Blockchain team announced the official integration of the TON Web3 wallet with Telegram. As a result of this announcement, the price of TON reached a three-month high of $1.97, with the token currently trading at $1.92.
The TON Web3 wallet is already available as a standalone bot on Telegram, with 3 million registered users. However, it will now be accessible to all 800 million users through their settings. Moreover, Telegram’s vast user base will also have access to the TON Space digital wallet. TON-based projects will enjoy privileged access to Telegram’s advertising platform as well.
To promote the TON platform, the TON team released a QR code that grants users one free TON token valued at $1.92. However, the overwhelming demand for this feature led to server issues. Consequently, the TON Blockchain team temporarily paused the TON giveaway via the public QR code on Twitter.
Hot Take: Telegram’s Endorsement Boosts TON Token
The endorsement of the TON Blockchain by Telegram has had a significant impact on the price of the TON token. With the integration of the TON Web3 wallet into Telegram and the introduction of the TON Space digital wallet, the TON platform now has access to Telegram’s massive user base, providing extensive exposure and potential adoption for TON-based projects. Additionally, the privileged access to Telegram’s advertising platform further strengthens the marketing capabilities of TON. However, the overwhelming demand for the TON giveaway promotion via a QR code on Twitter caused server issues, leading to a temporary pause in the giveaway. Despite this setback, the endorsement by Telegram has undoubtedly bolstered the TON token’s position in the crypto market.
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