Toncoin Payments Now on Telegram — How has TON Reacted?
Telegram enables TON payments, causing a spike in token price. Will the increase continue?
Key Takeaways
- Toncoin now usable for Telegram ad purchases, shares 50% revenue.
- Toncoin payments promise fee-free withdrawals, low transaction costs.
- TON’s price uptrend may continue with positive market sentiment.
Telegram has introduced the option to use Toncoin for advertising purchases on its platform. The messaging service promises a generous revenue-sharing model where 50% of ad income goes to public channel owners. Meanwhile, the TON token price has struggled to surpass $5.50 today, April 1.
If this news positively affects market sentiment, we could see a further rise, because the price has been in an uptrend since March 29.
Toncoin Payments
This initiative not only enhances channel visibility through Toncoin transactions but also pledges fee-free withdrawals for channel earnings via Telegram’s own Fragment exchange. Emphasizing the efficiency of the TON Blockchain, known for its low transaction costs and high processing speed of up to 100,000 transactions per second, this update aims to boost the utilization of Telegram’s ad platform.
Pavel Durov, Telegram’s CEO, highlighted the platform’s vast monthly channel views. He also anticipates this new method will incentivize more content creators to engage with the ad system. The announcement led to a 2.32% uptick in Toncoin’s value, signaling market optimism towards Telegram’s deeper dive into crypto for content monetization and user engagement.
Toncoin (TON) Price Analysis
On March 25, the price of TON reached an all-time high of $5.70. Soon after, we saw a retracement to $4.70 on March 29. This was an interaction with the ascending support anchored at the March 17 low of $3.40.
According to our count, this was the wave four correction out of a five-wave impulse from March 17. This also meant the last uptrend from March 29 ended with wave five. On April 1, another interaction with ascending support resulted in a bounce.
We could now expect the TON price to head for another high to the ascending resistance at $6. After this ends, TON could face a downturn, but if it breaks $6, that would be prolonged.
Disclaimers
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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