🌎 Toncoin Declines Despite Telegram’s New Gift Feature Announcement

Toncoin has not experienced a price increase following Telegram’s recent announcement of new features.

Telegram’s New Features

Telegram has introduced a gift feature along with several other updates to their app. Despite these additions, Toncoin has not shown a positive price movement. At the time of writing, TON is trading at $5.22, marking a 2.7% price drop in the last 24 hours. Over the past week, the coin has decreased by over 10%.

Typically, major announcements lead to a price increase, but even with slightly positive market conditions, TON has not reversed its downward trend.

New Gift Feature

The latest update from Telegram allows users to send gifts to their friends. These gifts can be displayed on profile pages or converted into stars. Telegram CEO Pavel Durov mentioned that some gifts will be in limited supply and announced plans to introduce a feature to convert these gifts into TON-based NFTs.

Additionally, Telegram has unveiled a platform for businesses to verify customer phone numbers and improved its reporting interface. The app’s moderators now have enhanced capabilities to manage content violations.

iOS and Android Updates

Telegram has rebuilt video chats on iOS devices to enhance battery life and performance, ensuring devices remain cooler during long calls, even with multiple video feeds. Android users now have support for livestreaming with RTMP, a feature previously available on iOS and desktop platforms.

Despite these new features, TON’s performance remains lackluster. The coin was trading above $8 in mid-2024 but saw a decline following the arrest of Durov. The price is now showing slow signs of recovery.