Bittime - Toncoin (TON), a cryptocurrency integrated with the Telegram messaging app, is experiencing a rapid rise. TON Foundation, the Toncoin development organization, reports that the TON ecosystem in Telegram is growing rapidly, even outperforming the movement of the crypto market as a whole.
What happened?
TON price surged 54% in the past month, hitting a record high above $7. This is in contrast to Bitcoin which fell 8% in the same month. TON also managed to enter the top 10 cryptocurrencies based on market capitalization.
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Justin Hyun, Investment Director of the TON Foundation, attributed this growth to TON's integration into Telegram which has more than 800 million users, as reported by CoinDesk.
In February, Telegram started an advertising revenue sharing system where payments are made using TON.
The Open League program announced on April 1 also helped encourage the growth of the TON ecosystem. The program will distribute 30 million TON, worth $188 million, to the community through a special program, airdrop, and liquidity pool on the TON decentralized exchange.
Also read: Toncoin (TON) Becomes a Payment Tool on Telegram
Hyun explained further, "Telegram has launched their advertising platform, which only accepts Toncoin and not fiat currency. This is in accordance with Web3 principles, where they share 50% of advertising revenue to Telegram channel owners."
Why Is This Important?
TON Foundation recently collaborated with HashKey Group to make it easier for their wallet users in Asia Pacific to convert fiat currency into digital assets.
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Hyun believes, "TON is the greatest hope for mass adoption of Web3 technology. TON will be what the Apple Mac was to personal computing for Web3 technology. There may not be crypto in every home, but it could be in every wallet."
Also read: TON Continues to Innovate: First TON Hacker House Held in Hong Kong
The TON cryptocurrency has recently attracted a lot of attention following the introduction of a new identity verification system in early April and other significant developments such as the palm scanner project with Human Code.
What next?
The impact of altcoins and Bitcoin as institutional class assets is expected to be a topic discussed in depth at Benzinga's upcoming Future of Digital Assets event on November 19.
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How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on 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 Complete Guide How to Buy Crypto 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.
Also read:
Telegram Distributes Toncoin (TON) to Channel Owners
Getting to know Toncoin (TON): Definition, History, Advantages, and How to Buy It
Toncoin (TON) Price Prediction: In-Depth Analysis 30% Upside Chance
Toncoin (TON) Skyrockets: Surpassing Dogecoin and Cardano, Telegram IPO Coming Soon?
DISCLAIMER: This article is informational in nature and is not an offer or invitation 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.
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