April 2, 2024
Latest Cryptocurrency News

Telegram Adopts Toncoin for its Cryptocurrency Ads

The messaging giant Telegram has unveiled a new feature enabling users to purchase advertisement services using cryptocurrency. The platform, known for its commitment to innovation, has selected the Toncoin (TON) token for this initiative, citing its advantageous attributes such as low fees and high transaction speeds.

“We chose the TON Blockchain because it has low fees, and high transaction speeds – and holds a record for the number of transactions it can process per second. Anyone can now promote their bot or channel – with budgets as low as a handful of Toncoins. When creating a Telegram ad, you choose the exact channels where you’d like it to appear, so you have full control over their context.”

Statement from Telegram

Fair Reward System for Channel Owners

This move marks the next phase of Telegram’s ad revenue distribution program, initially discussed in late February. Channel owners on Telegram will now receive a significant 50% share of the total revenue generated from ads run on their channels, provided they have over 1000 subscribers. Importantly, there are no hidden withdrawal charges or fees, enabling users to access their rewards seamlessly.

Toncoin Prices Surges After Telegram Announcement

Toncoin, the chosen cryptocurrency for Telegram’s payment and withdrawal services, witnessed a surge in price following the announcement. The token surged to a high of $5.49, reflecting a 7% increase. Over the last month, Toncoin has experienced a substantial 90% surge, reaching $5.28. Despite a slight 4% drop from the previous day, the token remains strong at $5.08.

Toncoin’s association with Telegram has historically influenced its market performance. The recent surge in Toncoin’s value underscores the positive market sentiment following Telegram’s endorsement. Currently ranked 11th in terms of market capitalization, Toncoin’s value stands at $17,637,4799,717, with a notable trading volume of $240,554,849.

Toncoin Price Analysis. CoinMarketCap

Pavel Durov’s Vision

Telegram’s founder, Pavel Durov, emphasized the importance of fast and secure transactions for ad payments and withdrawals, explaining why Toncoin was the preferred choice for the platform. Durov outlined the platform’s commitment to creating a virtuous circle, wherein content creators can either cash out their Toncoins or reinvest them in channel promotion and enhancements.

Telegram’s adoption of cryptocurrency for ad payments and its fair revenue-sharing model represent significant strides in the integration of blockchain technology into mainstream platforms. As Toncoin continues its upward trajectory, propelled by Telegram’s endorsement, the cryptocurrency market anticipates further developments in this dynamic partnership.

Image by Vectonauta on Freepik

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