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The 61% Rise In Toncoin During Telegram’s IPO Talks

Toncoin’s 61% Surge Amid Telegram’s IPO Consideration

Toncoin’s value goes through the roof by 61% as Telegram thinks about going public (IPO) 

Toncoin (TONNE), the native token of the TONNE Network, has gone up more than 60% in just two days since Pavel Durov, the creator of the chat app Telegram, said he was going to start an IPO.

The Tonne Network started out as a branch of Telegram, and work on it began in 2018. After the SEC sued Telegram, they stopped working on the Tonne Network in 2020. A year later, many people in the community got together to handle the project.

In September, Telegram chose the TONNE network as their chosen blockchain for Web3 infrastructure. However, the two companies are no longer at all the same.

In a talk with the Financial Times, Durov said that he “sees value” in an IPO as a way to “democratize access” to Telegram’s assets. He also said that Telegram has 900 million users and is almost making money.

The price of TON has recently gone up from US$2.72 to US$4.38, and CoinGecko says its market value has grown from US$9.5 billion to US$15.5 billion.

This is the same amount of time that the CoinDesk 20 Index (CD20) has gone up by 7.8%. This is because bitcoin led the market up and hit a record high of US$73,707.

TONNE is very close to its all-time high of US$4.50, which it hit in November 2021.

The market value of Toncoin went from US$9.5 billion to US$15.5 billion, which shows that investors are positive about the token’s future.

As Toncoin gets closer to its all-time high, people who are interested in cryptocurrencies are closely following what’s happening with Telegram’s possible IPO.

An IPO could make it more acceptable to use blockchain technology in everyday life, which could help Toncoin become more popular.

The fact that Toncoin’s value went up while Telegram was thinking about going public shows how volatile the cryptocurrency market is. It shows how big of an effect big tech companies can have when they use blockchain technology.

As the lines between digital currencies and social media continue to blur, the future of coins like Toncoin looks bright. They could grow even more and become more common in everyday digital life.

More: Top IPOs To Look Out For In March 2024

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