Toncoin, an open network blockchain cryptocurrency, has reached its highest level since January 2022, rising 12% in 24 hours.
As of this writing, the price of Toncoin (TON) has surged nearly 12% in the past 24 hours to $3.12, according to data from CoinMarketCap. In the last 24 hours, trading volume has surged by 170% to $154 million, indicating increased interest from traders in this coin.
TON has grown nearly 50% over the past month amid a number of notable announcements. The first catalyst for growth was Telegram Messenger’s announcement that it would start paying channel owners for cryptocurrency advertising. The Binance cryptocurrency exchange subsequently announced the launch of perpetual futures trading for the TON token.
A recent boost was Telegram founder Pavel Durov’s interview with the Financial Times about the initial public offering (IPO).
Durov told the Financial Times that Telegram has reached 900 million users. He also noted that the platform is approaching profitability and could conduct an IPO on the stock exchange in the near future.
Durov, who owns Telegram, said the company had received a valuation of more than $30 billion from potential investors, including global technology funds. At the same time, Durov has ruled out the possibility of selling Telegram and is considering the possibility of an IPO in the future.
“In general, we see (the IPO) as a means to democratize access to the value of Telegram.”
Telegram founder Pavel Durov
The businessman did not disclose the time and location of the stock offering. But two of my interlocutors said Telegram would likely explore a U.S. listing once the company reaches profitability and market conditions improve.