The blockchain cryptocurrency Toncoin has experienced a significant surge, reaching its highest level since January 2022 with a 12% increase in just 24 hours.

According to data from CoinMarketCap, the price of Toncoin (TON) has risen by almost 12% in the last 24 hours, reaching $3.12 at the time of writing. Trading volumes have also seen a substantial increase, soaring by 170% to $154 million over the past day, indicating growing interest among traders in this particular coin.

TON has grown by almost 50% over the past month, fueled by several high-profile announcements.

One of the key drivers of this growth was Telegram Messenger’s decision to start paying channel owners in cryptocurrency for advertising. Additionally, the cryptocurrency exchange Binance recently announced the introduction of trading in perpetual futures for the TON token, further boosting its market performance.

A recent development that has contributed to the surge in Toncoin’s value was Telegram founder Pavel Durov’s interview with the Financial Times regarding the company’s potential initial public offering (IPO).

In the interview, Durov revealed that Telegram’s user base has reached 900 million and that the platform is on track to achieve profitability, paving the way for a possible IPO in the near future. Potential investors, including global technology funds, have valued Telegram at over $30 billion, indicating strong market confidence in the company’s future prospects.

Durov emphasized that an IPO could democratize access to Telegram’s value and provide an opportunity for wider participation in the company’s growth.

While the exact timing and location of the IPO remain undisclosed, sources suggest that Telegram is likely to pursue a listing in the U.S. once the company achieves profitability and market conditions are favorable.

With Toncoin’s remarkable performance and Telegram’s strategic moves towards expansion and financial sustainability, the cryptocurrency market is witnessing a period of significant growth and potential opportunities for investors.

For more news and updates on cryptocurrencies and blockchain technology, continue exploring Global Crypto News.

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