Telegram recently announced a significant change in its revenue model, leading to a surge of over 30% in the TON token within just one week, reflecting a positive trend in the cryptocurrency market.

Key Highlights:

  • Channel owners to receive 50% of ad revenue in Toncoin (TON)
  • TON price increased by 30% to $2.75 in the past week
  • Market cap of TON now at $9.5 billion, ranking 18th in the world
  • Limitations set on TON holdings to 10% per investor to address concerns

In an announcement on his channel, Telegram founder Pavel Durov revealed that channel owners will now receive 50% of ad revenue exclusively in Toncoin (TON). This shift aims to create a “virtuous circle,” allowing creators to either cash out or reinvest in channel promotion.

Following this announcement, TON experienced a significant uptick, with its price reaching $2.75, marking a remarkable 30% increase over the past seven days. The circulating supply of 3.5 billion TON has propelled the cryptocurrency to a market cap of $9.5 billion, making it the 18th largest cryptocurrency globally.

To address concerns about concentration and centralization, Telegram co-founder Pavel Durov announced limitations on TON holdings to 10% per investor. This decision aims to tackle worries about Telegram’s significant share of Toncoin due to exclusive advertising sales for TON. Additionally, surplus TON holdings will be sold at a discounted rate to long-term investors to promote stability and reduce volatility.

The integration of TON as the exclusive payout currency for ad revenue sharing on Telegram marks a significant milestone. With Telegram channels collectively amassing a trillion views monthly, the potential volume of TON distributed through this program is noteworthy.

Despite facing setbacks in 2020 due to an SEC lawsuit, Toncoin has resurfaced with increased demand and is endorsed by Pavel Durov. Available on major exchanges, Toncoin has become a cryptocurrency worth monitoring.

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Binance’s TON perpetual contracts

Binance Futures to Introduce TON Perpetual Contracts

In a move that amplifies the excitement around the Telegram Open Network, Binance is expanding its futures lineup by introducing perpetual contracts featuring Toncoin on Binance Futures. The launch is scheduled for March 1 at 12:30 UTC, offering traders a maximum leverage of up to 50x.

While the spot trading platform on Binance does not currently support TON, the introduction of perpetual contracts provides traders with new opportunities for potential gains. Binance also offers valuable coin price tracking and market information on its platform, hinting at potential future additions to its TON offerings.

As TON experiences a surge, Bitcoin and Ethereum have also shown strength in the market. Bitcoin is nearing its all-time high at $67,000, while Ethereum has seen a 12.4% gain in the past week, reaching $3,550. Market dynamics, including the launch of new ETFs and the Grayscale Bitcoin Trust outflows, contribute to TON’s rise.

Bitcoin’s proximity to its all-time high has sparked speculation, but long-term investors remain optimistic about sustained demand driven by new U.S. ETFs and the upcoming April halving event.

For more updates and news on cryptocurrencies, visit Global Crypto News.

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