The Reason Toncoin (TON) Price Exploded by 25%

TL;DR

• Telegram will allow advertising in 100 new countries, sharing 50% of ad revenue with channel owners in Toncoin via the TON blockchain.
• Toncoin’s value increased by 25%, reaching a market cap of nearly $10 billion, coinciding with a general upswing in the crypto market.

The CEO of the messaging application Telegram – Pavel Durov –  said  the platform will officially open to all advertisers in around a hundred new countries in March. 

Channel owners in these nations will start receiving 50% of any revenue that Telegram makes from displaying ads. Durov explained that payments and withdrawals will be utilized on the TON blockchain.

“Similar to our approach with Telegram usernames on Fragment, we will sell ads and share revenue with channel owners in Toncoin. This will create a virtuous circle, in which content creators will be able to either cash out their Toncoins — or reinvest them in promoting and upgrading their channels,” the exec added.

Toncoin (TON) – the native cryptocurrency of the TON network – skyrocketed by 25% mere minutes after the announcement. Its market capitalization soared to almost $10 billion, briefly making it the 15th largest digital asset.

TON’s uptick comes amid an overall resurgence of the crypto sector. As CryptoPotato  reported , Bitcoin (BTC) hit the $60K milestone for the first time since November 2021. Ethereum (ETH) also charted a multi-year high of over $3,300.