Toncoin (TON) Soars 97% Through Collaboration with Telegram, Competing with CORE (CORE) and KangaMoon (KANG)

Bittime - The crypto world is abuzz again with the significant price spike experienced by Toncoin (TON) . This price increase occurred after Telegram, a popular instant messaging application, announced the integration of Toncoin as a payment method for advertising.

Through this integration, Telegram channel owners now have the opportunity to monetize their content using Toncoin, Telegram's native crypto asset. Apart from that, this step also aims to provide incentives for content creators and will ultimately integrate crypto assets into the platform's economic model.

Reporting from CoinDesk, the price of Toncoin (TON) soared by 97.4% in the last month. This increase is even more impressive if you look at the price movement since the beginning of the year (YTD), which reached 125%. In fact, in the last week alone, the price of Toncoin was recorded to have increased from $4.81 to $5.47. With this positive trend, the Toncoin price prediction at the end of 2024 is estimated to reach $7.19.

Telegram and the Future of Toncoin (TON)

The integration of Toncoin as a means of payment for advertising on Telegram is actually nothing new. Telegram itself had planned to launch its own crypto token, named Gram, in 2018. However, this plan failed due to a lawsuit filed by the United States Securities and Exchange Commission (SEC) .

However, the developer community that supports TON continues to develop the TON blockchain which is separate from Telegram. The results of their hard work paid off with the presence of Toncoin (TON) which is currently used on Telegram.

Telegram's decision to use Toncoin as the official crypto asset of their platform is a breath of fresh air for TON's future. Apart from potentially increasing widespread adoption of Toncoin, this integration can also encourage the development of the TON ecosystem as a whole.

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Toncoin (TON) vs Core (CORE) and KangaMoon (KANG)

The increase in Toncoin prices has certainly attracted the attention of crypto investors. However, keep in mind that Toncoin (TON) is not the only crypto asset that has experienced a price spike recently. Core (CORE) and KangaMoon (KANG) also recorded fantastic price increases of 365% and 290% respectively in the last month.

So, which crypto asset should you choose for investment? Deciding on investment options in the crypto world is not easy. Apart from considering historical price movements, investors need to conduct in-depth research regarding the project's fundamentals and future prospects.

Toncoin has the advantage of direct support from a platform as large as Telegram. This of course has an impact on increasing brand awareness and utilization. Meanwhile, CORE and KangaMoon are still relatively new players so information about their project fundamentals may still be limited.

Conclusion

The integration of Toncoin as a payment method on Telegram was the main catalyst for its price increase. With the potential for wide adoption and support from large platforms, Toncoin (TON) has bright prospects going forward. However, investors still need to carry out careful analysis before deciding to invest in Toncoin or other crypto assets.

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How to Buy Bitcoin (BTC) on Bittime

You can buy and sell Bitcoin (BTC) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Bitcoin (BTC) is available on Bittime with the market pair BTC/IDR . To be able to buy BTC/IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn the complete guide on how to buy Bitcoin (BTC) on Bittime. 

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

DISCLAIMER: This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.