Telegram, the messaging giant boasting over 700 million users, has rolled out a game-changing feature called “Giveaways.” In a bid to revolutionize transparent and authentic giveaways, channel owners can now effortlessly conduct promotions, attracting and rewarding subscribers. The impact of this move was seismic, particularly for Toncoin (TON), Telegram’s native cryptocurrency.
Toncoin experienced an extraordinary surge, catapulting to its highest valuation in nearly a year, exceeding $9 billion, and securing a spot among the top ten major cryptocurrencies. The catalyst behind this surge was Telegram CEO Pavel Durov’s active participation, gifting $200,000 worth of TON to 10,000 Telegram users. This strategic move underscored Durov’s commitment to promoting TON within the Telegram ecosystem.
The immediate response was a 19.5% surge in TON’s price, peaking at $2.71. Durov’s initiative not only demonstrated his eagerness to expand TON’s reach but also positioned Toncoin as a major player in the cryptocurrency market.
Telegram’s influential backing and expansive user base provided a robust foundation for Toncoin’s growth. Beyond giveaways, strategic partnerships and regulatory approvals have further fueled interest among traders and investors. A significant development was the Dubai Financial Services Authority’s approval of TON and XRP within its jurisdiction, marking a crucial step forward for Toncoin’s development.
On October 31, TON achieved a groundbreaking milestone, with its blockchain operating at an astounding 104,715 transactions per second. This achievement positions TON as the world’s fastest and most scalable blockchain. TON’s architecture, designed to handle a vast number of transactions by adding more nodes, showcases its technical superiority.
In summary, the Telegram Giveaways feature has proven to be the catalyst for Toncoin’s rapid ascent. Coupled with regulatory approvals, technological milestones, and enthusiastic community engagement, TON emerges as a cryptocurrency poised for sustained growth and innovation in the ever-evolving blockchain landscape.