Telegram’s Ton Coin Surging Rapidly Despite The Market Downturn, Here Is Why?
Ton coin surged 22% within 24 hours despite a huge downfall in the trade price of the majority of the flagship crypto assets.
Ton coin is the principal cryptocurrency of the TON (The Open Network) blockchain. The Open Network blockchain was initially developed by the Telegraph team but in May 2020 distanced from this project, following a legal conflict with the United States Securities and Exchange Commission (SEC).
As we recently reported Ton Foundation confirmed that its Ton crypto wallet is now available to Telegram’s 800 million customers, which is available in the Telegram setting to customers.
Telegram planned to roll out its crypto wallet feature for users globally, except in the US jurisdiction.
Following this news the trade price of this token surged by nearly 12% on the same day but days after the trade price of this token kept surging.
The current trade price of this token is $2.15 & this trade price is 12.5% high over the last 24 hours trade price.
It is worth it to note that in the last 24 hours, the lowest & highest trade price of the Ton coin was $1.9 & $2.3 respectively. That means the trade price of Ton coin surged by nearly 21%+, which is impressive because in the same time period, the majority of the crypto assets saw only a small increment by upto 2%.
Last month Binance crypto exchange also published a blog post about crypto trading services under Telegram’s umbrella via telegram bots.
According to Binance, the surging crypto-related activities in Telegram’s ecosystem are impressive & it will be better for Telegram to keep the development activities continuing, to compete against the existing dominant players in this innovative sector.