"The price went up quite a bit, whoever bought a TON here must have made a profit, right?"
Cryptocurrency Toncoin (TON) founded by The Open Network finally managed to show an extraordinary performance when its price broke through $4.58 causing investors to take more interest in it.
There is no denying that TON, which has been a trend for several days, has received a lot of attention, but there are several other factors that push the price to climb high and can continue to do so until it reaches an all-time high (ATH). Here is the list:
Telegram IPO
Since TON was launched by Telegram, its founder and Chief Executive Officer (CEO) Pavel Durov plans to do an initial public offering (IPO).
His firm rejected an investment offer of more than $30 billion as Durov was more interested in continuing with the IPO to ensure that Telegram was not burdened by venture capital (VC).
Whales & Community Support
Whale who collected over 209,000 TONs worth $858,000 has been instrumental in seeing an upward trend in the community following the same buying action.
Many people buy more after seeing the rise in value of a crypto which in turn leads to an increase in price.
Advertisement Platform Launch
Launching Telegram ads on the TON network, its channel owners in 100 countries have started receiving financial rewards for displaying ads on their channels since early March 2024.
The owner will earn a profit of 50% of all total advertising revenue.
When making transactions, the Telegram platform has prioritized the TON network for payments.
All in all, the three factors mentioned above are very important for the TON community to examine as they are not only able to have a positive effect on TON but the price can reach ATH by the end of March 2024.
As of this writing, the price of TON trading at $4.09 has fallen slightly by 6.53% in the last 24 hours with a market capitalization of over $14 billion but still gained 50.34% over the last week.
