Telegram recently announced changes to its revenue model, resulting in a surge of over 30% in the price of its TON token in just one week. This increase comes as part of a bullish trend in the crypto market.
The founder of Telegram, Pavel Durov, shared the news on his channel, revealing a major development. Channel owners will now receive 50% of ad revenue exclusively in TON. This shift will create a “virtuous circle,” giving creators the option to cash out or reinvest in promoting their channels.
As a result of this news, the price of TON has experienced a significant uptick, reaching $2.75 and marking a remarkable 30% increase in just seven days. With 3.5 billion TON in circulation, the cryptocurrency now has a market cap of $9.5 billion, making it the 18th largest cryptocurrency in the world.
To address concerns about concentration and centralization, Telegram co-founder Pavel Durov announced a limit of 10% on TON holdings per investor. This decision was made in response to worries about Telegram’s dominant share of TON due to its exclusive advertising sales.
In addition, Telegram plans to sell surplus TON holdings at a discounted rate to long-term investors, promoting stability and reducing volatility.
The decision to use TON as the exclusive payout currency for ad revenue sharing is a monumental step for Telegram. With a trillion views amassed by Telegram channels monthly, the potential volume of TON distributed through this program is intriguing.
TON, previously known as the token Telegram almost launched, faced setbacks in 2020 when a lawsuit by the SEC halted Telegram’s crypto ambitions. However, the token has now resurfaced with increased demand and is endorsed by Pavel Durov. TON is available on major exchanges, making it a cryptocurrency worth keeping an eye on.
In a significant move that further amplifies the excitement surrounding TON, Binance, a major player in the cryptocurrency exchange space, is set to expand its futures lineup. This development involves the introduction of perpetual contracts featuring TON on Binance Futures.
Scheduled to launch on March 1 at 12:30 UTC, the TON/USDT perpetual contract is expected to have a significant impact. With maximum leverage of up to 50x, traders have a larger playing field for potential gains.
Although Binance’s spot trading platform does not currently support TON, the exchange provides valuable coin price tracking and market information, setting the stage for potential future additions to its TON offerings.
Amidst TON’s surge, Bitcoin (BTC) has also shown strength, inching closer to its all-time high of $67,000. Ethereum has also experienced a 12.4% gain in the past seven days, reaching $3,550. Market dynamics, such as the launch of new ETFs and outflows from the Grayscale Bitcoin Trust, contribute to TON’s rise.
While there is speculation about Bitcoin’s proximity to its all-time high, long-term investors remain confident in sustained demand driven by new U.S. ETFs and the upcoming April halving event.
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