In a stride toward advancing in the cryptocurrency realm, Telegram has recently unveiled a groundbreaking feature. Users of the renowned messaging platform can now promote their channels through advertisements, harnessing the capabilities of blockchain technology. Telegram’s move allows users to purchase ad space using Toncoins (TON), the platform’s native digital currency operating within the TON blockchain.
Capitalizing on Viewing Power
Telegram recognizes the significant potential for channel owners to generate ad revenue. The company’s latest announcement highlights the staggering statistics, revealing that channels collectively amass over a trillion views monthly. To capitalize on this immense viewing power, Telegram has introduced a revenue-sharing model. Channel owners with a minimum of 1000 subscribers are entitled to claim 50% of the ad revenue from ads displayed on their channels.
Integration of TON Blockchain
Several compelling factors have driven Telegram’s integration of the TON blockchain into this feature. The platform cites benefits such as minimal fees and swift transactions as primary reasons for this strategic decision. Additionally, the TON blockchain holds the record for processing the highest number of transactions per second, emphasizing its suitability for facilitating efficient transactions. This decision underscores Telegram’s commitment to offering users the full spectrum of blockchain advantages, including security, transparency, and speed.
CEO’s Vision
Pavel Durov, CEO of Telegram, emphasizes the importance of facilitating seamless ad payments and withdrawals. He envisions the TON blockchain as a comprehensive platform for these transactions. Durov envisions a “virtuous circle” where the platform sells ads and shares revenue with channel owners in Toncoin. This process enables content creators to either cash out their earnings or reinvest them to enhance their channels further.
TON Token Performance
Following the introduction of these innovative features, the TON token has experienced a bullish trend. In the past 24 hours alone, the digital currency has surged over 5%, reaching a trading price of $5.30. This increase is a significant addition to the remarkable 100% price surge witnessed in the previous month. The surge in trading volume, exceeding $234,869,370 in the last 24 hours, represents a surge of over 74% compared to the previous day’s figure.
Potential for New Highs
Approaching its all-time high (ATH) record of $5.69, set on March 25th, the recent price surge coupled with increased trading volumes could propel the TON token to new ATHs if demand remains high. However, the token must first overcome the significant resistance level of $5.45, which has proven to be a formidable obstacle thus far.
Technical Analysis
Analyzing the current TON/USD 4-hour chart, the support level is identified at $5.26. This critical level is expected to mitigate any potential price corrections following the recent upward trend, indicating promising prospects for the TON token in the near future.