Telegram Implements Toncoin Payment Integration For Ads, TON Price Sees Impact
01 Abril 2024 - 7:00PM
NEWSBTC
Telegram, the renowned messaging platform, recently unveiled a new
feature that allows users to promote their channels through
advertising. With the launch of this feature, users can now
purchase ad space using Toncoins (TON), the native cryptocurrency
powered by the TON blockchain. Telegram Implements TON Blockchain
For Ad Payments Acknowledging the potential for channel owners to
generate advertising revenue, Telegram’s announcement highlighted
that channels collectively accumulate over 1 trillion views each
month. Realizing this opportunity, Telegram has implemented a
revenue-sharing model, enabling channel owners with a minimum of
1000 subscribers to receive 50% of the ad revenue generated from
ads displayed on their channels. Related Reading: Bitcoin Flash
Crash Washes Out 81,000 Crypto Traders For Over $220 Million The
decision to integrate the TON blockchain into this feature was
driven by various reasons, as noted in the social media platform’s
announcement on Sunday: We chose the TON Blockchain because it has
low fees, high transaction speeds – and holds a record for the
number of transactions it can process per second. Anyone can now
promote their bot or channel – with budgets as low as a handful of
Toncoins. When creating a Telegram ad, you choose the exact
channels where you’d like it to appear, so you have full control
over their context. Telegram CEO Pavel Durov had previously
emphasized the importance of fast and secure ad payments and
withdrawals, expressing that the TON blockchain would be the
exclusive platform for these transactions. Durov stated: To ensure
ad payments and withdrawals are fast and secure, we will
exclusively use 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. TON Shows Bullish Momentum As Telegram unveils these new
features and developments that can significantly boost the adoption
and usage of the TON token, the cryptocurrency has responded
positively. Over the past 24 hours, TON has surged by more
than 5%, reaching a current trading price of $5.30. This surge adds
to its impressive 100% price increase over the past 30 days alone.
Notably, the announcement has also caused a substantial increase in
the trading volume of TON, which has soared to $234,869,370 in the
past 24 hours. This represents a rise of over 74% compared to
Sunday’s trading volume, according to CoinGecko data. Related
Reading: Traders Not Showing Dogecoin FOMO, Good Sign For Rally?
Furthermore, the TON token is approaching its all-time high (ATH)
mark of $5.69, reached on March 25. With the introduction of these
new features in Telegram and the notable increase in trading
volume, the token appears to be on the verge of setting a new ATH
in the coming days if the demand continues to rise. However, the
token must surpass the significant resistance level of $5.45 for
this scenario to unfold. This price level has proven to be a hurdle
for the token, as it has attempted three times to break through and
consolidate above it to reach a new ATH but has failed. Overcoming
this resistance level is crucial before the token can approach new
ATH levels. On the TON/USD 4-hour chart, the support level that
could potentially halt a price correction following the recent
uptrend is $5.26. This support level acts as a buffer to prevent a
significant downward correction in price. Featured image from
Shutterstock, chart from TradingView.com
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